Oireachtas Joint and Select Committees

Wednesday, 18 June 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming ECOFIN Council: Minister for Finance

5:25 pm

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour) | Oireachtas source

That is the key issue. We need to know those data the Commission has taken into consideration in its projections and the need to cut by €2 billion. I do not know what access the Minister has to that.

The Minister mentioned possible excess profits from the Central Bank and dividends being paid to the Exchequer. There is a profile for the sale of the IBRC promissory notes to the market and there is pressure to sell them into the market earlier. Currently, the notes are effectively recycled and the State receives the interest coupon. Is it the view of both the Minister and the Central Bank that they should be sold at the slowest pace possible to make sure that is of most benefit to the State?

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