Oireachtas Joint and Select Committees

Thursday, 10 October 2024

Public Accounts Committee

Financial Statements 2023: Land Development Agency

9:30 am

Photo of Mairéad FarrellMairéad Farrell (Galway West, Sinn Fein) | Oireachtas source

I understand that profit is not the agency's main motive. It is in my head the fact that we have identified that its funding is off-balance sheet, it is reliant on State subsidies and that we do not have a date in terms of being sure when it will be able to borrow. That raises a bit of a flag here because all the agency's capitalisation realistically is coming from State sources. It seems we have identified a bit of black hole that we know exactly where we will get potentially from borrowing at this moment in time. We are not 100% sure because they are only going into the conversations about that in 2025. Has any Irish official or European official ever raised concerns about their operating model?

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