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Public Accounts Committee: Business of Committee (25 Oct 2012)

Kieran O'Donnell: Is the agenda in respect of the meeting at 2 p.m. on Wednesday, 31 October 2012 agreed? Agreed.

Public Accounts Committee: Department of Justice and Equality - Review of Allowances (25 Oct 2012)

Kieran O'Donnell: I welcome everyone to the meeting. Before we commence, I remind members and witnesses to switch off their mobile telephones as they cause interference with the sound quality and transmission of the meeting. I advise the witnesses that they are protected by absolute privilege in respect of the evidence they are to give to this committee. However, if they are directed by the committee to...

Public Accounts Committee: Department of Justice and Equality - Review of Allowances (25 Oct 2012)

Kieran O'Donnell: I welcome Mr. John Clinton, General Secretary of the Prison Officers Association, and ask him to introduce his officials.

Public Accounts Committee: Department of Justice and Equality - Review of Allowances (25 Oct 2012)

Kieran O'Donnell: I also welcome the officials from the Department of Public Expenditure and Reform. I now invite Mr. Purcell to make his opening statement. Is it in order for the committee to publish it?

Public Accounts Committee: Business of Committee (25 Oct 2012)

Kieran O'Donnell: Item No. 1 is the minutes of the meeting of 18 October.Are the minutes agreed? Agreed. The minutes of the meetings of 23 and 24 October will be dealt with at the meeting of 1 November 2012. Item No. 2 is matters arising from the minutes. A note has been prepared by the Office of the Comptroller and Auditor General on the accountability of State funding for CIE. Work is continuing on...

Public Accounts Committee: Business of Committee (25 Oct 2012)

Kieran O'Donnell: Item No. 3B is correspondence alleging waste of public funds. No. 3B.1 is correspondence received on 18 October 2012 from an anonymous source re public sector allowances paid to third level lecturers to mark examination papers. That is to be noted, and a note is to be sought on this from the Department. Item No. 3B.2 is correspondence dated 21 October 2012 from Mr. Daniel O'Mahonyre...

Public Accounts Committee: Business of Committee (25 Oct 2012)

Kieran O'Donnell: The Deputy is down as the second speaker.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: NAMA pays the banks a six-month EURIBOR rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: Do they get a margin?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: Is it €1.6 billion or €2 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: I am putting it very simply. There are shell buildings under the remit of NAMA. Does NAMA have the capacity-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: There is no impediment at this point-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: ----- for NAMA to invest, for example, €2 million to fit out a-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: No, I am just giving an example.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: That is not the point I was making. When NAMA was envisaged-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: -----it was proposed to clean the balance sheets of the banks to enable them to lend.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: The banks have not played their part in that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: Correct - NAMA bonds.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: It is not a criticism of NAMA.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Kieran O'Donnell: I have only one question which relates to my area and it is unlikely to have been covered. What funds does the agency have available for investment in capital projects? The issue of the lack of availability of suitable properties, particularly for inward investment, is pertinent in both Limerick city and county. I refer, in particular, to finishing fitted out units as distinct from core...

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