Oireachtas Joint and Select Committees

Thursday, 5 November 2020

Public Accounts Committee

2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund

11:30 am

Mr. Derek Moran:

At the end of the day, it may make a profit even with a conservative mandate. Let us say interest rates change next year and we no longer have a negative interest rate but a small positive interest rate, one can expect it to start earning money. At the end of the day, it is whatever is in the fund that is surrendered on either side. It either goes back to Apple or it comes to the State. That is the key amount and, in real terms, that amount of money has been preserved.

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