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 Catherine ConnollyCatherine Connolly (Galway West, Independent) | Oireachtas source

I welcome what Mr. Lynch says but it is not happening in practice. I hear about three aspects of this. The first is when an incident happens. I hear about learning from that incident. Then I hear about how cost-effective the State Claims Agency programme is at minimising the cost of dealing with something that happens inevitably. It could be something that should not happen. Many of the incidents and accidents should not have happened. Some were inevitable and some were not. There are different aspects to it.

The first aspect is the extraordinary liability. A sum of €3.15 billion is the liability for this year. Can Mr. Breen tease that out somewhat? He mentioned some of the reasons, including the Russell case and one or two others. Can he tease out why that figure is so large? What methodology was used to calculate it? Could it be more or could it be less?

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