Oireachtas Joint and Select Committees
Thursday, 5 May 2022
Public Accounts Committee
2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020
9:30 am
Mr. Seamus McCarthy:
We were calculating on the basis of the average cost of debt rather than the specific debt that was put in place, because there is an argument that until State borrowing goes under approximately €140 billion, we are still paying the banking debt, or some of it. In effect, it is perpetual.
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