Yes, but the interest bill if we borrowed on the open market would be at least 3 times as high. That would be bigger than all of the repayment s we are currently being asked to make.
Understood.
So, is it accurate to state that the Government income is being used to repay (the loans incurred as a consequence of the decision to stand over the debts arising from) the bondholders ?
Trying to claim causality between the Household Charge and the debts of bondholders is a matter of opinion. It would be equally accurate, or inaccurate, to link the Household Charge with the Croke Park Agreement and salary increments (see what I did there) ?