Oireachtas Joint and Select Committees

Thursday, 19 September 2013

Public Accounts Committee

Annual Report and Accounts 2012: Discussion with IDA Ireland

12:00 pm

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I see the accounts have a 41% provision for impairment against costs in respect of the IDA's industrial property holdings. The total cost of the IDA's land, site development, industrial property and industrial property for accommodation is €463 million, and there is a total impairment of €190 million. Is that just for a pure reduction in value of that property of over 40%?

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