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

Next month, this inquiry into a small part of the transactions process by the IBRC will have taken longer than the entire period in which the IBRC existed. That is an extraordinary fact. It is quite shocking on any reasonable level that it would take so long to investigate a transaction with the objective of ascertaining whether value was achieved for the taxpayer.

When commissions of investigation were established originally they were meant to be an alternative to tribunals. They were meant to be a far more cost-effective way of getting the facts of any basic issue identified. In this context, we amended the legislation to create a particular model to facilitate this investigation and the Oireachtas agreed to that. To call a spade a spade, whatever one says and whatever one's views are, this has not worked in terms of the objective of investigating one transaction.

From a democratic and a financial perspective, something needs to be done because the public deserves answers. The Dáil and the Oireachtas deserve answers in terms of these issues. I do not know whether it is open to the Dáil to undertake an independent evaluation into the procedures being used and the extent of the areas being covered and whether the Oireachtas can then satisfy itself that it should continue to proceed or look at another way of getting answers to the basic questions that were put in regard to that transaction. After all, this is about the public having access to all of the information through the Oireachtas.

I appreciate the fact that the Taoiseach is not in a position to have access to what the inquiry is doing but it would be interesting to know whether core accounting and economic work has been undertaken in regard to the issue. I was not able to attend that last meeting but I am not clear about the Taoiseach's own views on how it should proceed from here onwards. I would be interested in his perspective on that.

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