Peter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

The critical point in this regard is that was retrospective. If one is trying to examine what was happening, which is difficult at this stage, when the process was ongoing, it is difficult to ascertain the work that was carried out to justify the 10% rate at the time. I questioned Mr. McEnery previously in a robust exchange. He alluded to a HSE property with a 30-year lease being sold at a discount rate of approximately 7.5%. That is all well and good retrospectively but when someone is evaluating that process at that particular time, Mr. Rooney would have to agree that it is strange to see a lower discount rate than 5.5% being used in the evidence presented to the Comptroller and Auditor General in terms of events and board papers when NAMA was trying to argue that 10% was justifiable.