Derek Nolan (Galway West, Labour)
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I welcome Mr. McDonagh and his officials. To pick up on his final point, the contrast between the situation for those operating under the personal insolvency regime and those working on a commercial basis with NAMA is that under the former regime, there are very strict limits on what people can spend and the lifestyle they can lead is very tight, whereas in the case of three people working with NAMA, they are earning over €200,000 a year. To compare the NAMA system with the personal insolvency regime and say they are similar is pushing it, in my view.

I wish to ask about the issue of NAMA staff, which has come up in the press quite frequently lately. Mr. McDonagh mentioned the fact that NAMA lost a lot of staff this year and last year. I was going to ask how many staff were lost in 2013, but Mr. McDonagh gave us the figure for two years. A total of 50 staff have been lost, which equates to one quarter of the staff. How is NAMA coping with the loss of talent every year and is it impacting on business operations?