Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

-----much as he might like to do so.

It is four years since the IBRC commission of investigation was first established. It was established for a very good reason, namely the real and increasing public concern at information emerging about IBRC's sale of public assets at rates which appeared to be well below what should have been sought and other related issues. It is now an issue of concern that an inquiry can drag on for so long and at such expense. The Taoiseach is now estimating that the commission will cost €30 million, which is extraordinary, particularly when compared to inquiries in other countries which do not take the same length of time or incur the same level of costs.

There simply must be something wrong when a commission can take years to focus on a single transaction. To put it in perspective, there appears to be little more than three months involved between the decision to put Siteserv's assets up for sale and the conclusion of that sale. We will soon be in the fifth year of investigating a transaction that took three months, which I am sure the Taoiseach will agree is absurd by any definition.

Does he have any idea what the obstacles that have been put in the path of the commission are? As it is a private rather than a public commission, we do not know if it has been delayed by lack of co-operation, legal issues or simply bad procedure driven by acting as though it were a court with powers beyond those held by a commission. What can be done to get to the bottom of this? We are owed some detailed explanations, given that we are the body charged with establishing it along with the Government. We worked in consultation with the Taoiseach's predecessor and the Taoiseach in this regard. Does he accept that it is not good enough merely to express frustration and that he has a responsibility to seek a detailed statement on why we are entering the fifth year of investigation into a transaction which took approximately three months?

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