Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Mr. Ciarán Breen:

In the case of a brain-damaged child, he or she is made a ward of court. The moneys we pay in compensation are paid directly into court and are managed by an investment committee in the wards of court system. That committee will be looking for the best return it can get on the moneys. Investment is subject to provisos, such as the one to which the Deputy referred. I spoke about the real rate of return. There is pressure in that regard. As the Deputy may know, the real rate of return in respect of Northern Ireland, Scotland, England and Wales is lower than it is in the Republic right now. We are facing the prospect of litigation on that particular point in the months ahead.

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