Oireachtas Joint and Select Committees

Thursday, 10 October 2024

Public Accounts Committee

Financial Statements 2023: Land Development Agency

9:30 am

Photo of Mairéad FarrellMairéad Farrell (Galway West, Sinn Fein)
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I totally get that is what it says on the tin but the point that I am trying to make is that they would not be commercially viable without the State subsidies, which are significant. For example, last year the agency said that €5.7 billion was needed in capitalisation. At this moment in time all the capitalisation is coming either from the ISIF or the AIB shares sale. When the LDA was established, it was seen as a commercial State-owned enterprise but at present that commercial aspect really is not there.