Results 4,121-4,140 of 11,255 for speaker:Colm Burke

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Therefore, in real terms, AIB cost us €4.3 billion. The big one was that IBRC was over €37 million in real terms.

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: We have now sold all the shares in Bank of Ireland meaning that we have nothing left to recover from Bank of Ireland, but the net cost to the State is around €2.1 billion in real terms.

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: I want to clarify. We put in over €74 billion in real terms in the amount of loans that were owed by people to the banks where the State as such took responsibility. Then we had a net cost to the State. I am talking about the net cost of Bank of Ireland to the State at the end of the day.

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Therefore, we made a gain on Bank of Ireland, but what about AIB?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Okay. I move to a different issue. At the end of 2021 we had €237 billion in borrowings in real terms. While interest rates are low, looking at servicing that borrowing in the future, when will there be an increase in the cost of interest on that borrowing over the next three to four years? What is the calculation on that?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: What was the net interest on that borrowing in 2021?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Is that likely to increase for 2022 and 2023? I am talking about the immediate-----

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: The debt was at €237 billion at the end of 2021. From here on in if we have a surplus and we do not have to borrow extra money, how much of that will be paid back over the next four years?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Therefore, we are reasonably secure regarding the borrowing we have. We will not have a sudden increase in rates as happened ten or 15 years ago.

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: I wish to ask about two other issues. Our contribution to the European Union has increased substantially in the past 12 months. I believe it is about €3.5 billion now. Will that increase over the next three to four years or is it set at the same rate?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: We need to plan to take into account that the contribution will increase.

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Regarding the changes that will come on taxation as regards the 15% corporation tax, over what time period will that come into place?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: My understanding is that the forecast for corporation tax yield is approximately €21 billion or €22 billion. Am I correct in that?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Regarding the 15%, I know there will be a variation because we will not be able to collect the same level of tax from companies here because of the new rules. By how much is the yield expected to change by 2025, even if the production and export levels of these companies remain the same?

Public Accounts Committee: 2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund (17 Nov 2022)

Colm Burke: Could we see a substantial drop in corporation tax as a result of the alignment in how we deal with taxation?

Public Accounts Committee: Business of Committee (17 Nov 2022)

Colm Burke: I apologise for being late and I may go off the point a bit. Are people employed through Departments being looked at? I know RTÉ is separate from any Department but I have an issue with one aspect of the Department of Education.

Public Accounts Committee: Business of Committee (17 Nov 2022)

Colm Burke: Yes.

Public Accounts Committee: Business of Committee (17 Nov 2022)

Colm Burke: It is but the issue is the Department pays home tutors but also deducts tax. At the same time, home tutors are limited in what they can do outside of providing home tuition and what other work they can take on. It seems to be a difficult one from the point of view of the limitations the structure imposes on home tutors. All the indications are that the Department of Education is dictating...

Written Answers — Department of Culture, Heritage and the Gaeltacht: Arts Policy (17 Nov 2022)

Colm Burke: 45. To ask the Minister for Culture, Heritage and the Gaeltacht the way in which funding provided by her Department in the arts sector is helping revitalise rural Ireland; and if she will make a statement on the matter. [56911/22]

Written Answers — Department of Children, Equality, Disability, Integration and Youth: Early Childhood Care and Education (17 Nov 2022)

Colm Burke: 116. To ask the Minister for Children, Equality, Disability, Integration and Youth if he will confirm that consideration will be given to immediately increasing the ECCE capitation paid to service providers from €69 per child to €76 per child to assist in meeting costs; and if he will make a statement on the matter. [56368/22]