Oireachtas Joint and Select Committees
Thursday, 3 December 2015
Public Accounts Committee
2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
10:00 am
Mr. Derek Moran:
It is at the higher end. In 2001 it was 14.9%, in 2002 it was 16.4% but in recent years it fell to 10% and 11%. Perhaps that is recovering but it has not gone beyond the bounds of that movement, which goes with the cycle. I agree with the Deputy it is a very aggregate level comfort. There are always risks. Mr. McCarthy spoke about the concentration risk. We did some work on that in 2015 and published it with a budget around that, but that has not changed. It is within the bounds of the payments we have seen over a 15 or 20-year period.
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