Oireachtas Joint and Select Committees

Thursday, 5 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Permanent TSB

11:50 am

Mr. Jeremy Masding:

Sorry, I make this slight error all the time. The sum of €4 billion was then, on a net basis, reduced when we sold Irish Life to Canada Life. I argue that the net taxpayer injection into the Permanent TSB Group Holding is €1.7 billion. We were given €4 billion when we owned Irish Life. That was sold by the Minister so one can make the argument that the net taxpayer investment is €2.7 billion.

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