Peter Burke (Longford-Westmeath, Fine Gael)
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Does the Comptroller and Auditor General accept that it is reasonable to have a debate on the 5.5% discount rate being overambitious? We have examined the composition of the rate and listened to the commentary on it. Other highly reputable experts in the field were involved. This is obviously a very difficult area to assess. As Mr. McCarthy set out, the methodology applied to cashflows and discounting is straightforward. However, the issue becomes complex when one is changing and assessing business risk. It is reasonable to have that debate. We cannot say the probable loss is set in stone.