Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

On the arrears, the explanation is that they concentrate on the larger accounts. If one looks at the percentages, they are high on the larger accounts. It is the smaller accounts where they are falling behind but that is because of the method of allocating the work. In value terms, they deal with a very high proportion of them.

On the NAMA question, when NAMA commenced it had liabilities of €30 billion, that is, the quantum of public money that is in play. At the end of the last quarter, however, NAMA fulfilled its first repayment obligation by paying back €7.5 billion. In the course of 2014, with the cash it has in hand and with foreseeable transactions, NAMA will go close enough to €7 billion again in transactions. The NAMA portfolio, at the end of 2014, will have reduced substantially.

The quantum that is under the control of the special liquidator is approximately €12.6 billion. On the special liquidator's sale of assets, it looks as if he will sell at least half of that, perhaps more. That is a rough estimate because one never knows what one will sell until it is bought but the expectation with the level of interest there is that €6 billion of that will be bought before it is transferred to NAMA at all. When one takes approximately €16 billion and adds another €6 billion to it, one will see that the NAMA portfolio will still be substantially below what it was at its starting point three years ago.

Nobody has brought to my attention that there is any particular additional requirement from the Comptroller and Auditor General's office to deal with NAMA but he will get whatever resources he needs because it is important. I do not deal with the staff or the Estimate. I am responsible for these Estimates but they are negotiated with Deputy Howlin's Department and he controls staff. As far as I know, as a near neighbour, I do not think there are issues of staff or resources outstanding with the Comptroller and Auditor General's office. Certainly, they have not been brought to my attention. The practice would be to give the Comptroller and Auditor General what he needs within reason and, usually, there is not a conflict about these matters.