Oireachtas Joint and Select Committees
Thursday, 12 February 2015
Public Accounts Committee
2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
IDA Ireland - Financial Statement 2013
Enterprise Ireland - Financial Statement 2013
10:00 am
Shane Ross (Dublin South, Independent) | Oireachtas source
The fortunes of taxpayers' money depended on the performance of UTV, because that was the biggest investment it had. It must have been, given the way the share prices were going to move, a very unsuitable investment for Enterprise Ireland to have. It probably diverted from its original purpose. Should Enterprise Ireland not have sold those shares a lot earlier once it was not fulfilling its mandate? It was there in cash and it was there in UTV and it had profits on things likes Dalata and a few other things like that. Basically, Enterprise Ireland was sitting there and it had millions of euro invested in a vehicle which was basically in cash in UTV. That is what it was and it took five years to get out of it.
No comments