Oireachtas Joint and Select Committees

Thursday, 5 November 2020

Public Accounts Committee

2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund

11:30 am

Mr. Derek Moran:

One way we could regularise it would be to pay NTMA the money, but that would seem to be a circular transfer. If they meet the costs we would just be transferring it on to the Exchequer to pay them. I suppose that when we started down this road the expectation that 12 years after the financial crisis the State would still have bank holdings was probably not what we expected. We do need people who have experience and expertise in this area who supplement the existing staff within the Department.