Oireachtas Joint and Select Committees

Wednesday, 21 May 2025

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Dissolution of National Asset Management Agency: Discussion

2:00 am

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent)

I am going to come to develop that point. We know leasing is poor value for money for the State. Given that a key responsibility of NAMA is to work in the interests of the State - not to work solely in the interests of NAMA but rather for those interests of the State - does Mr. McDonagh think it may have been a poor decision to allow a situation in which the State continues to lease properties during a time, as he will be aware, where fiscal rules had been suspended and where there had been no barrier to the State purchasing properties? It would have been better value for the State to have been purchasing and owning properties and allowing local authorities to purchase and own properties. We had this suspension of the fiscal rules for a substantial time. Does the maintenance of leasing relationships not go against the interests of the State?

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