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

We disagree on the interpretation of what happened and the benefit. When the board bought the site, it should have set out legally or via an agreement who was responsible for filling it in. If that was the board, it should have included the cost in its budget. If that was someone else, it was his or her responsibility. Instead, people decided to do their best and see what happened and hoped to be able to do it. Had there been an agreement in place when the property market declined, the board would have benefited exclusively from that decline and the inevitably cheaper costs. Instead, the board was caught.

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