Oireachtas Joint and Select Committees

Thursday, 8 December 2022

Public Accounts Committee

2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 19 - Exchequer receipts from National Lottery ticket sales

9:30 am

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

When I looked at the summary of the 2018 accounts, and some material attached to them, I was puzzled as to why a loan would be taken out at a 9% interest rate in 2014. If I had wanted to, I would have been able to get a loan at 0.5% interest in 2014. Other entities would also have been able to do that if they had wanted to. Why did the board draw down a loan at a 9% interest rate? It is extraordinarily high.

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