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

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

At the end of 2018, bank debt stood at €41.7 billion and the State received €300 million in dividend payments in 2019. It seems that the taxpayers have taken a substantial hit, if all the State received was €300 million from the three banks from which it should receive dividends, when the annual cost of servicing the debt, according to the Comptroller and Auditor General, is somewhere between €1.1 and €1.3 billion, and the overall debt is approximately €40 billion now. Does the Government or the Department have any plans to sell the shares that the State has in the banks?

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