Oireachtas Joint and Select Committees
Thursday, 30 November 2023
Public Accounts Committee
Appropriation Accounts 2022
Vote 7 - Office of the Minister for Finance
Finance Accounts 2022
Report on the Accounts of the Public Services 2022
Chapter 1 – Exchequer Financial Outturn for 2022
Chapter 2 – Reporting Ireland’s EU Transactions
Chapter 24 – Performance of the Ireland Apple Escrow Fund
Chapter 25 – Irish Fiscal Advisory Council
9:30 am
Mr. John McCarthy:
Indeed. The first thing to say is there is no segregated amount within our €223 billion that is just bank debt. It is all fungible. Of the €64 billion, however, and I am talking in ballpark terms here, €30 billion due to Anglo Irish Bank is forever on the debt. Obviously, as we sell AIB shares - I think Bank of Ireland is fully disposed of at this stage - that will come in and will be used to repay the debt. The net cost of debt, therefore, will really be the net cost of Anglo Irish Bank, but Mr. Carville might speak to this further.