Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018

9:00 am

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

We can all rightly be angry at the mountain of debt we have and at the massive social cost for citizens associated with it but it is also important to point out that we do not often have Accounting Officers before the committee who give us the level and quality of detail we have got today. The quality of the work of the NTMA is recognised across the political divide and outside it. It is very professional. It has managed our assets very well and has managed our debt as well as is possible. I put on record my appreciation of that work. The mountain of debt is of concern.

I may elaborate on my final point. Towards the end of his presentation, Mr. O'Kelly talked about risks. One was corporate tax but the other was Brexit. Will he talk us through the risks presented by Brexit in respect of the debt and the other elements of the NTMA's remit? What solutions are being put in place by the organisation to mitigate these risks and protect the State from Brexit as best it can?

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