Loans to Ireland Bill

The debt is matched by an asset, which is the amount we expect to get from Ireland, and it does not impact on our deficit. We will actually make a return on the interest that will be paid. Let me deal with three very brief points. First, there is no expectation that we will have to make further loans to Ireland in the future. Secondly, there is no reason to presume that full repayment will not be met over the term of the loan. Thirdly, ensuring Ireland's stability is overwhelmingly in our national interest. That is why we are making the loan and this exception for Ireland. It is in our economy's interests to ensure that the Irish economy is stable and we need to do all that we can to deliver that. Question put, That the Bill be now read a Second time. The House divided: Ayes 523, Noes 7.