Oireachtas Joint and Select Committees

Wednesday, 27 November 2013

Public Accounts Committee

Business of Committee

3:15 pm

Photo of Áine CollinsÁine Collins (Cork North West, Fine Gael) | Oireachtas source

I have a concern in regard to NAMA. I have got some information from people who are supplying some services to NAMA and they have advised that NAMA is very slow to pay the SME sector for any business those in the sector have done on finishing off properties and so on. Also, it is very hard to get information from NAMA. The people who are dealing with NAMA versus Ulster Bank, ACC or the other banks which are managing out a book say it is far quicker to deal with those than it is to deal with NAMA and that its commerce decisions are not the best that could be done for Ireland, especially as we are coming out of the recovery programme and NAMA is the largest asset holder in the State.

I also have a concern about the fact that NAMA is receiving VAT payments in respect of rent on behalf of people and that money is not being paid over to the Revenue Commissioners, rather it is being kept as a liability personally for the individual concerned. I was not here on the day NAMA appeared before the committee but this has only come to light to me in the past two weeks. Should NAMA be brought back in before the committee or should we talk to people who are in NAMA or bring them in and ask them some questions because this is big concern?

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