Richard Bruton (Dublin North Central, Fine Gael)

Given that just 6% of the land and development bank is performing, whereas the business plan forecasts that 80% of it will produce a full refund, can the Minister understand the scepticism of some people? Similarly, does he understand why people are dubious about the use of a risk discount rate of just 5% for highly risky projects, not to mention the expectation that the administration costs of this operation will be just 0.4%? In light of such dubious assumptions, will the Minister agree that someone should vet the soundness of this plan on behalf of the taxpayer? If he does not believe the Comptroller and Auditor General should perform such a function, who does he believe should be responsible for protecting taxpayers from rushing into decisions without a proper foundation?

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