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Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: Is that question directed at the Department of Public Expenditure and Reform or the Department of Finance?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: I ask the Deputy to hold that question. Does he have specific questions for the Department of Public Expenditure and Reform on the opening statement of the Comptroller and Auditor General? We will come back to the witnesses from Department of Finance after the witnesses from the Department of Public Expenditure and Reform have left to get answers to those questions.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The Deputy has used about half of his opening time.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: Before Mr. Beausang leaves, I will put a number of questions to him and then we will take the opening statement. Does anyone else wish to come in on this chapter?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: I call Deputy Connolly, and the rest of the speakers can come in when we finish this topic.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: Two years.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: It was consolidation of the finance statement and the appropriation accounts, paragraph 5.21 of the Comptroller and Auditor General's report.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The officials were saying that requires legislation.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The last speaker on this topic is Deputy Cullinane, after which we will move on the main business.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: There is mobile phone interfering with the recording. I ask members and witnesses to ensure their phones are switched to flight mode.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: Finally, to conclude this particular session, there are a couple of questions I want to put to Mr. Beausang. He just touched on one of them. When the IMF was in town it was here, in partnership with the EU, as the troika. Did they heavily consult the European Union and EUROSTAT about the recommendations?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: On the IMF's report, in fairness to people here, I have to put it in context with reference to the first paragraph of the chapter. It reads: "A team from the International Monetary Fund (IMF) visited Ireland in March 2013, at the request of the Secretaries General of the Departments of Finance and Public Expenditure and Reform, to evaluate". The witnesses invited them to give us some help....

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: I have quick questions on the document before us. It is good that we have it. I am looking at page 71, but the question is not specific to it. The witnesses mentioned the National Asset Management Agency, NAMA, and that in the recent accounts the contingent liabilities for it were taken off the balance sheet. Is the expected surplus of €3 billion included in the State's balance...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The witnesses can see from where the Committee of Public Accounts is coming. We know that €3 million is sitting there-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: Approximately €3 billion. It is not in the State system until such time as it comes in.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: It is nearly there.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The witnesses have confidently said the figure will be approximately €3 million. We are taking it, therefore, that there will be approximately €3 million.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: I should say approximately €3 billion. We were back to small figures for a few moments.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The valuation of the State's investment in the banks is not included-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 5 - Fiscal Transparency
(19 Apr 2018)

Seán Fleming: The witnesses can see the rationale for somebody saying everything should be consolidated. They are very big figures that are not included. On specific items, is the contingent liability not recorded in the HSE accounts of approximately €2 billion for medical negligence included?

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