Oireachtas Joint and Select Committees

Thursday, 27 November 2014

Public Accounts Committee

Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon

11:10 am

Mr. Brendan Gleeson:

We have a plan with a set of timelines, with projections for improvement in the financial situation over 2015, 2016 and 2017. There are proposals for disposal of assets.

Deputy Costello mentioned earlier the risk of relying on increased revenue streams for reducing debt. Indecon came to the same conclusion and felt that really it was not possible to reduce the debt without some programme of asset disposal. Harold's Cross, I suppose, was the most valuable of the potential assets for sale.

In terms of the detailed management of the sale of Harold's Cross, those details remain to be worked out; we do not have a detailed plan. What we have is a programme of actions which follow on from the Indecon recommendations, and we would expect that an amendment to the strategic plan of the board would be required, but we do not have the details of the proposals for the sale of Harold's Cross at this point.

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