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

Okay. The Comptroller and Auditor General has helped to explain this from the public's point of view. The discount rate is something that you manage and it is what you are going to earn. People when they hear about the discount rate think it is the interest rate. That may sound strange. For the public watching, the State Claims Agency is looking at this from its point of view and using the terminology, which we understand. Somebody watching who hears that the discount rate goes down will not get it. The rate goes down from the perspective of the State Claims Agency.

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