Oireachtas Joint and Select Committees

Tuesday, 1 July 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

National Treasury Management Agency (Amendment) Bill 2014: Committee Stage

5:45 pm

Photo of Fergus O'DowdFergus O'Dowd (Louth, Fine Gael) | Oireachtas source

The issues the Deputy is raising form part of a debate in which we do not agree with each other's points. I am sorry if my previous reply upset him, but I am not in a position to read his mind and see what he learned from whatever parliamentary questions he submitted. I am happy to give replies to his questions and do not mean to upset him.

The Deputy's question is on how to benchmark the NTMA's work, what to pay people for what they do and, as they are not State employees, whether the public sector pay caps apply. The labourer must be worthy of his or her hire. As the Deputy acknowledges, the NTMA's performance has been exceptional. I hope it continues to be so. The country's future demands on the people we can attract to this field. The knowledge, experience and skills that they could otherwise be applied at much higher salary rates in the private sector will instead be used on behalf of the Deputy and me.

The legislation empowers a better way of doing business than heretofore. NewERA has no executive powers. It will effect Government decisions, not make those decisions itself.

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