Oireachtas Joint and Select Committees

Thursday, 6 July 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

What if NAMA completes its task much sooner? It is on target. It was set up with a ten-year term. The Minister encouraged the quick big sales to the vulture funds. We have had special reports on that and a commission is looking at Project Eagle, which was the first big sale. That was all in an effort to get NAMA to wrap up a little sooner. What if it does? It sounds as if the Department has not made a case yet. I am disappointed to hear that. While there is certainly a minimum surplus of €3 billion, which is a conservative estimate, because we think it is not coming to us any sooner, we are not making a case as to how those funds could be utilised. This is known as planning ahead. Ms Nolan is also saying - in light of current thinking - that NAMA's projected surplus of at least €3 billion will sit there until 2020 and all the good things-----

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