Oireachtas Joint and Select Committees

Thursday, 22 September 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

I have asked the question. A few issues stand out. First, there was an old or outdated valuation; second, there was no second valuation; third, the land cost almost €30,000 an acre; fourth, 7 acres of land were swopped for only €10,000, which is almost one third of the original price of an acre; fifth, all this happened at the same time as land prices increased; and, sixth, there is location.

I do not know the exact location and I have not stood in the field but I am trying to draw a mental picture of it. Land adjacent to transport hubs has huge potential, particularly given Government policy, which correctly targets high-density developments, although sometimes too high for my liking, close to transport hubs. Ms Eades will be aware aware that there is a housing shortage and that the land is in close proximity to the third largest city in the State. Given those factors, does she not think that the outcome is awful in view of the use made of public moneys? Does she agree that there has not been a good outcome?