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

I thank the Deputy for his question. I was in the House when we established NAMA. One of the aspects that we took considerable care in ensuring was that there could be no possibility of the Minister for Finance of the day interfering in NAMA's commercial activities. I was on the Opposition benches at the time and that was written into the law for good reason, namely, to ensure that NAMA was established on an independent basis and would make its own commercial decisions. That has been the at bedrock of NAMA's operations. Clearly, this means that the Minister for Finance is completely cut off from the way in which NAMA makes decisions about Cerberus, Project Eagle or any other matter in which it has dealings. It is important that the House is aware of this important separation.

As to the idea of establishing a commission of investigation, I understand that the Taoiseach met the leaders of the Opposition and it was agreed in principle that such a commission would be established. As the Deputy averted to, however, we also know that the Committee of Public Accounts is undertaking a report on this issue as a follow-up to the report of the Comptroller and Auditor General. It is appropriate that we would hear the outcome of the deliberations of that committee, which is an organ of this House, before we make a decision in plenary on the terms of reference and the appropriate scope of any commission of investigation. That is the approach that is being taken and it is wholly appropriate. The results will fall where they may and the Government is fully open to such an approach.

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