Joan Burton (Dublin West, Labour)

With regard to the power of the Comptroller and Auditor General to institute value for money reports, a series of changes have taken place since the draft NAMA business plan was prepared. Property values have continued to fall. We have received information from various court cases and legal actions. We have learnt that the value of the Irish Glass Bottle site in Ringsend has decreased stupendously from over €400 million, at the last count, to between €60 million and €80 million at present. The draft NAMA business plan does not provide for any such falls in value. The Minister is trying to make savings on the ordinary budget. Does he agree he should try to cut the €54 billion cost that the taxpayer is undertaking? Does he accept that it would make sound business sense, in the national economic interest, to do so now?

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