Oireachtas Joint and Select Committees
Thursday, 28 June 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Sale of Promissory Note Bonds: Discussion
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
May I ask one final question? It is very short.
The promissory note has caused serious damage, as Mr. O'Flynn said. The Government does not intend to reclaim a penny of the €34.7 billion. As the injections went in, starting at figures of 12,000 in 2010, up to 34,000, not one debate or vote was required in this House regarding any of the promissory notes signed by the Minister. As we approach the tenth anniversary of the guarantee, does Mr. O'Flynn believe it would be appropriate to repeal the legislation that allows for a Minister solely to provide that type of financial commitment to financial institutions? This committee scrutinises every line of expenditure from Departments but the provision to which I refer allows a Minister to commit billions upon billions of euro of Irish taxpayers' money without any scrutiny or recourse to a vote within the House. Is legislative repeal something the delegates call for or support?
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