Oireachtas Joint and Select Committees
Thursday, 1 December 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Ulster Bank
9:30 am
Gerry Horkan (Fianna Fail)
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We have discussed GRG but what has happened in the UK has not happened here. Is it possible for what happened in the UK to happen here in terms of analysing those businesses and seeing which are entitled to compensation? We should go through them systematically and examine them all. I would be interested to know the breakdown of real estate versus non-real estate. Obviously, lots of non-real estate businesses were connected to people who had real estate problems, so they became real estate problems. However, I would be interested to see how many were not related to real estate, how many were a mix of viable businesses caught up in real estate and then pure real estate. Hundreds of millions of pounds in compensation is being paid to people who went through the GRG process, but a similar process has not happened here. Is it possible for that process to happen here?