Oireachtas Joint and Select Committees
Thursday, 24 January 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Economy and Funding Requirements: Discussion with NTMA
3:55 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
That is fair enough. I ask Mr. Corrigan to do as proposed. NewERA has valued our forestry lands at €500 per acre. Even I, as one who does not know very much about land valuation, can work out that this is a gross undervaluation, particularly in light of the widespread geological survey demonstrating what is under the forests. We have not seen the results, but they could mean some of the land is much more valuable. In that regard, is it not the responsibility of the NTMA to furnish us with the economic justification and advise the Government on whether there is good value. NewERA is dealing with State assets generally and the NTMA is involved in their management. Could we generate more revenue for and employment in the State if we operated differently or kept the assets in public ownership? The NTMA should set out the options that would result in the best value for the State. I appeal to it to do so. What is occurring is crazy in terms of achieving good value for the State and ensuring the good management of resources within the agency's remit.
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