Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Brian Stanley (Laois-Offaly, Sinn Fein)
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Can Ms Donnery see this from the public's point of view? One of the largest companies in the State was allowed to run this situation to where it did without having the necessary reserves. Mr. McCarthy has just clarified that the full liability was actually €1.5 billion. The taxpayer had to step in. The committee has given that process a good airing. We understand how that works and I thank the witnesses for the information but the taxpayer had to come up with that money.