Oireachtas Joint and Select Committees

Thursday, 12 July 2018

Public Accounts Committee

2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)

9:00 am

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

Given that the job of the NTMA is to manage the debt and part of the debt has been incurred by acquiring those shares, from Mr. O'Kelly's point of view - I am not talking about policy - is it economically advantageous to continue to sell those shares? I am not talking about the politics of doing so. People will have views on that. I agree with Deputy Kate O'Connell that the State should not be in this business any more but Deputy Catherine Connolly might have a different view. We will stay out of the politics. The job of the NTMA is to advise on the management of the debt. We have incurred a debt in acquiring the bank shares. From a professional financial advice point of view, should we continue to hold those shares or should we continue to sell them?

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