Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

To make it clear, there is no question of the Minister having acted inappropriately. He met a former US Secretary of the Treasury who happened to be an employee of Cerberus. He had no hand, act or part in the decision of NAMA, which is established independently under statute to make decisions on its own. Its decisions and decision-making process are what are under scrutiny, as the Deputy rightly recognised. The Minister for Finance has not been involved in that decision-making process, either about the selection of tenderers or any of the other matters about which the Comptroller and Auditor General has raised questions.

The issue that is before the Committee of Public Accounts is whether the approach taken by NAMA was adequate. The Minister for Finance has been open with the committee and participated fully in its discussions.

It is clear that we have set up legislation that ensures that NAMA makes its decisions independently of any politician.

That is operating. The Committee of Public Accounts, which is an independent body, has a right to scrutinise the outcome of that and if we, in this House, decide the commission of inquiry, which has been agreed in principle, ought to go ahead, we will make that decision but it is entirely to make sure there is proper public accountability for decisions made, on a delegated basis, by NAMA, which was entirely delegated to make those commercial decisions independent of the Minister for Finance or any other politician.

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