Results 10,501-10,520 of 20,099 for speaker:Brian Stanley

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: That is right.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: What is it at this point?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: At this point, what does the Department reckon it is? It obviously has a figure for what the bank section of the debt stands at now.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: What is it roughly?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: We will say €40 billion or just below it. We will take that. What is the annual cost of servicing that section of it at this point?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Hold on a moment. If the national debt is at €230 billion - it is a bit higher now, in particular after Covid - how much is it costing to service that in 2021? Could it be calculated on that basis?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Would it be €500 million a year?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Okay.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Please do that?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: The can was kicked down the road in terms of the schedule of payments. The first big refinancing happened at the time Michael Noonan was Minister. When do we see ourselves out of the bank debt completely? When will we have it finally paid off?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: It is fungible. We have mixed it in that much that we do not know now. I remember there was talk at the time in the Chamber that there was a period of decades where part of it would not be paid at all. The can was kicked down the road, so to speak. It probably made sense at the time. What I am trying to ascertain is for the public to know when we will finally be relieved of this...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: What we are looking at is something in excess of €500 million a year to pay back the bank section of the debt.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Around €1 billion.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: The bank debt is costing the taxpayer €1,000 million a year to service it, but that is likely to increase at some point down the road, if I recall correctly the way the repayments were scheduled.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: Could I ask for a note in plain English rather than economist-speak that the public would understand on where matters stand? I understand the witnesses do not have the information with them, but it is an issue we must address. It is better housekeeping to keep different debts separate. However, I can see the logic of mixing it all into the one, in that the debt can be refinanced at lower...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020 (5 May 2022)

Brian Stanley: I thank the witnesses for joining us today and the Department for the work involved in preparing for the meeting. I thank Mr. Seamus McCarthy, Mr. McKeon and the staff in the Office of the Comptroller and Auditor General for assisting us. Is it agreed that the clerk will seek any follow-up information and carry out any agreed actions from the meeting? Agreed. Is it also agreed that we...

Public Accounts Committee: Business of Committee (5 May 2022)

Brian Stanley: The business before us is as follows: minutes, accounts and financial statements; correspondence; work programme; and any other business. The first item is the minutes of our meeting of 28 April, which have been circulated to members. Do members wish to raise any matters in respect of the minutes? Are they agreed? Agreed. As usual, the minutes will be published on the committee's web...

Public Accounts Committee: Business of Committee (5 May 2022)

Brian Stanley: Okay. Since no member wishes to comment, can we agree and note the accounts and statements? Agreed. As usual, the listing of accounts and financial statements will be published as part of our minutes. We will move on to correspondence. As agreed previously, items that were not flagged for discussion at the meeting will continue to be dealt with in accordance with the proposed actions...

Public Accounts Committee: Business of Committee (5 May 2022)

Brian Stanley: My sense is that it is, but I cannot say for certain.

Public Accounts Committee: Business of Committee (5 May 2022)

Brian Stanley: Yes, we could ask for clarification on that. There certainly is a wide variation in it. We can seek that clarification. No. 1207B, correspondence from Mr. Peter Walsh, chief executive, Transport Infrastructure Ireland, TII, dated 22 April 2022, provides further information requested by the committee arising from our meeting with TII on 3 February 2022. It is proposed to note and publish...