Oireachtas Joint and Select Committees

Thursday, 7 November 2013

Public Accounts Committee

Bord na gCon - Annual Accounts 2011

11:10 am

Photo of Derek NolanDerek Nolan (Galway West, Labour) | Oireachtas source

I understand what Mr. Neilan is saying, but what he is really saying is that the board got hit with an extra cost and was lucky that building costs decreased as well, preventing it from being caught. That is not a saving. It means that the board lost out on the benefit that it should have received from cheaper prices in the construction industry, as it had not built this provision into its site price at the time.

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