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Ceisteanna Eile - Other Questions: Small and Medium Enterprises (10 Nov 2020)

Brian Stanley: I recognise that there is some good work being done; it is a matter of trying to develop it further. There are many large companies that are still aloof in that they lack a connection with local suppliers and other small local companies. Many of the services and goods needed by various companies can be sourced in the country. If not, there are small firms that can work to provide them. ...

Ceisteanna Eile - Other Questions: Small and Medium Enterprises (10 Nov 2020)

Brian Stanley: 38. To ask the Minister for Trade, Enterprise and Employment if his Department will promote, through Enterprise Ireland and other State funded bodies, the need to strengthen the connections and interdependence between local businesses. [34936/20]

Ceisteanna Eile - Other Questions: Small and Medium Enterprises (10 Nov 2020)

Brian Stanley: My question is to ask the Tánaiste's Department to promote, through Enterprise Ireland and other State bodies, the need to strengthen the connection and interdependence between local businesses. I am not advocating isolationism. There is a good deal of trade in and out of this country, and that is as it should be, but if we strengthen those links we can generate more jobs within the...

Ceisteanna Eile - Other Questions: Departmental Communications (10 Nov 2020)

Brian Stanley: I thank the Tánaiste for his very comprehensive answer. There are many things beyond our control but a number of things are within our control. One of these is controlling the pandemic. Deputies on this side of the House are also active in telling people to obey the rules to try to push back the virus and reopen employment. We also encourage people to spend money locally in towns and...

Ceisteanna Eile - Other Questions: Departmental Communications (10 Nov 2020)

Brian Stanley: That campaign will be very welcome. We also need to get the message across to people that this is needed not just in the run-in to Christmas but beyond Christmas because we are probably facing a difficult 2021. It will be a difficult year. I hope that, as jobs start opening up and money starts circulating again, the position will improve. One issue that needs to be addressed is the...

Ceisteanna Eile - Other Questions: Departmental Communications (10 Nov 2020)

Brian Stanley: 35. To ask the Minister for Trade, Enterprise and Employment if his Department will actively promote shopping locally to retain money in local economies and sustain them during this very difficult period. [34935/20]

Ceisteanna Eile - Other Questions: Departmental Communications (10 Nov 2020)

Brian Stanley: My question is about the promotion of shopping locally and the retention of money in local economies. I have put the question forward in a constructive way because we are in a difficult situation at the moment. These matters are important at any time, as I am sure the Tánaiste will agree, but that is particularly true at the moment because of the difficulties of retaining money in...

Written Answers — Department of Rural and Community Development: LEADER Programmes (10 Nov 2020)

Brian Stanley: 844. To ask the Minister for Rural and Community Development the steps she is taking to provide for interim funding for the Leader programme for the period 2021 to 2023. [34940/20]

Written Answers — Department of Rural and Community Development: LEADER Programmes (10 Nov 2020)

Brian Stanley: 845. To ask the Minister for Rural and Community Development her plans for a new Leader programme; and the stage the programme is at regarding pillar 2 funding. [34941/20]

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I bid "Good morning" to the witnesses. I welcome Mr. Moran. It is his first visit to the current Committee of Public Accounts. We are joined remotely by the Comptroller and Auditor General, Mr. Seamus McCarthy, as a permanent witness to the committee. I remind all of those in attendance to ensure that their mobile phones are switched off or on silent mode. There are a number of matters...

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I thank Mr. McCarthy. I invite Mr. Moran to make his opening statement to the committee.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: The next speaker is Deputy MacSharry.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: Deputy Munster will have an opportunity for a second round of questioning.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I will let the Deputy in for a second round later in the meeting. I call Deputy Catherine Murphy.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I have a few questions, then I will let members in for a second round of questions. The cost of servicing the national debt was set out by Mr. John McCarthy. Could he remind me of that figure? Could he provide me with a figure for the cost of servicing what is referred to as the bailout part of the debt per annum?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I am mindful of time. In terms of the figure of €3.9 billion, a sizeable portion of that will be interest repayments on the bank debt. The Department of Finance must have some figure for that. Is it €1 billion, €500 million or €1.5 billion? What is it?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: So the figure would be just north of €1 billion pro rata.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: I will remain with the issue of banks for the moment. The State has shares in three banks. It has a 13.95% share in the Bank of Ireland, and as I understand it, there was a dividend payment of €24 million in 2019. In respect of AIB, the State has a share of just over 71% in the bank, and, in 2019, there was a dividend payment of just over €228 million. How much of a share...

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: To be polite about it, the bank is charging fairly healthy interest rates on mortgages and loans in comparison to other institutions.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Brian Stanley: At the end of 2018, bank debt stood at €41.7 billion and the State received €300 million in dividend payments in 2019. It seems that the taxpayers have taken a substantial hit, if all the State received was €300 million from the three banks from which it should receive dividends, when the annual cost of servicing the debt, according to the Comptroller and Auditor...

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