Oireachtas Joint and Select Committees

Thursday, 19 September 2024

Public Accounts Committee

Business of Committee

9:30 am

Mr. Seamus McCarthy:

Yes, that is my understanding of it. You could look back at the chapter that I produced in previous years because I have had a chapter on this every year. There is more detail in the chapter on how the value of the account has moved. It was also because it was in a negative interest environment and there was not any interest to be gained. However, there was a significant interest gain in 2023. The bulk of the turnover figure that you see there, which is about €400 million, indicates the capacity of the account to generate a return.

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