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

Section 21 requires NewERA to prepare a report at least annually for the Minister responsible, the Minister for Public Expenditure and Reform, as well as other relevant Ministers, on the financial performance of each designated body. The amendment would require the Minister to lay such a report before the Oireachtas. We need to consider this provision in its full context. NewERA’s role is to provide financial and commercial advice for Ministers on the larger commercial semi-State bodies within their remit. Where it provides a report on financial performance, there may well be sensitive commercial information involved and it may be inappropriate for such a report to be published immediately. We would be better off without a broad requirement such as that proposed in the amendment. Such reports would, for example, be available under freedom of information legislation but would have the protection available in respect of commercially sensitive information. It should also be noted that the financial accounts of the commercial semi-States are publicly available. Accordingly, I will not accept the amendment.