Oireachtas Joint and Select Committees
Thursday, 19 September 2013
Public Accounts Committee
Annual Report and Accounts 2012: Discussion with IDA Ireland
12:00 pm
Seán Fleming (Laois-Offaly, Fianna Fail)
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I see the accounts have a 41% provision for impairment against costs in respect of the IDA's industrial property holdings. The total cost of the IDA's land, site development, industrial property and industrial property for accommodation is €463 million, and there is a total impairment of €190 million. Is that just for a pure reduction in value of that property of over 40%?