Oireachtas Joint and Select Committees
Thursday, 29 January 2015
Public Accounts Committee
Business of Committee
10:00 am
Joe Costello (Dublin Central, Labour)
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I understood the indemnification figure agreed to in 2002 when the redress issues arose and the legislation was introduced was well over €100 million. The figure for the 64 properties here worked out at €42 million. There are still 17 properties to be determined, but the figure is unlikely to reach another €42 million. Therefore, the total will be well short of the indemnification figure agreed to by the State with the Conference of Religious of Ireland, CORI, which was negotiating on behalf of the religious orders. There was a very considerable loss to the State on a matter which was the subject of agreement.