Seán Fleming (Laois, Fianna Fail)
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That is essentially the difference. Some people get lost on this. I will come to Mr. McDonagh in a minute on this exact topic. In Mr. McDonagh's opening statement, he talks about reliance on the rate of 5.5%. I would like Mr. McCarthy to comment and then I will come back to NAMA. The last sentence in page 4 of Mr. McDonagh's statement reads: "It was important that flexibility should be maintained". We are talking about whether the rate should be 5% or some other percentage. On the top of page 5, it states in bold: "In particular, 'care should be taken to ensure that both (a) alternative NPV scenarios are generated using alternative discount rates and (b) that qualitative information would be considered as part of the decision-making process'”. What evidence was presented to Mr. McCarthy, given that NAMA was saying care should be taken to ensure alternative NPV scenarios were generated using alternative discount rates? What did it present to Mr. McCarthy in terms of the alternative NPV scenarios using alternative discount rates as part of the Comptroller and Auditor General's audit?