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
Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source
It is clear already that there are losses of that nature. It is €37 million in 2019 and €16 million in the half-year period. It is already losing money as a consequence of the negative interest rate environment. Other than that, the State would be liable at the end of whatever the period is for additional money in circumstances where the case goes the way the State would like it to go - we will take out the words "winning" and "losing" - in our overall best interests. It is not the case that there is an amount of money that can be tapped into in the interim. In circumstances where one tapped into that money for houses, coronavirus supports or whatever else, the State would ultimately be liable should the case go the way we want it to go. It would be additionally liable for those funds to Apple.
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