Oireachtas Joint and Select Committees
Thursday, 26 November 2015
Public Accounts Committee
Bord na gCon Financial Statements 2014
10:00 am
Mr. Brendan Gleeson:
We are still in a very difficult position and have noted the Comptroller and Auditor General's Note 25 in the accounts. A road map is in place in the Indecon report. As the Chairman said, they are the normal business arrangements that should be in place. However, the report has galvanised the industry. We are satisfied that Bord na gCon is implementing it. In order to move itself away from this very difficult financial position, something must be done about reducing the debt. There are various strands to the work, of which the sale of assets is a very significant strand. We cannot see a mechanism to reduce the debt through the normal business processes without significant asset sales.
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