Oireachtas Joint and Select Committees
Wednesday, 26 January 2022
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Estimates for Public Services 2022
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised)
Paschal Donohoe (Dublin Central, Fine Gael)
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When I was in front of the joint committee last week, I gave a statement regarding how much overall is outstanding. It will take longer than was expected to ensure we regain all the money invested in Bank of Ireland, AIB and Permanent TSB. The procedures under way with regard to Bank of Ireland and AIB are going well.
As to what happens to that money when it comes in, it does not represent new money for the Government. We have an asset that is defined by the value of the share and the nature of that asset is changing into cash when we receive that money. It does not represent new money that we are planning to spend.