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

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

That does not take from the fact that retention money is being paid, that there is a risk that other banks will use the same excuse to do the same thing and the Department is allowing the pressure to appear at a time when the economy, regardless of its growth, is still in a fragile state. We have not worked out all our problems in this economy. I was recently asked about whether a pension levy is being paid. There was a question mark over whether some employees were escaping that and not paying it for some reason or other. These are the questions that are now being asked. Permission is being given for this payment. I think we are heading down a road that will be hard to control once that precedent is set.

Where will the €4 billion that will be repaid by AIB and the different payments coming in from the bank be paid to? Will it be paid directly off the loan or will it go into general receipts?

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