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Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: Since the new board and new chair came in, there has been a lot of firefighting over previous issues. Mr. Meany said things are beginning to change a little bit regarding the €1.2 million. How does he envisage this in five years? Is the board thinking that far ahead or is it on a year-on-year basis? Does Mr. Meany believe that less taxpayers' money will be going in in five years?...

Written Answers — Department of Agriculture, Food and the Marine: Agriculture Scheme Payments (2 Dec 2015)

Paul Connaughton: 75. To ask the Minister for Agriculture, Food and the Marine when payment under the Areas of Natural Constraint Scheme and the Basic Payment Scheme will issue to a person (details supplied) in County Galway; the reason for the delay; and if he will make a statement on the matter. [43122/15]

Topical Issue Debate: Garda Vetting Applications (3 Dec 2015)

Paul Connaughton: I thank the Ceann Comhairle's office for allowing me the opportunity to raise this issue. I was contacted by one school in County Galway which offers a post-leaving certificate, PLC, course in child care. Part of the course involves students gaining work experience which requires Garda vetting. Two students who started the course in September have still not received their vetting...

Topical Issue Debate: Garda Vetting Applications (3 Dec 2015)

Paul Connaughton: I think the Minister of State for his response. The problem is that it is claimed the average waiting time for vetting clearance is four weeks. I can, however, give the Minister of State an example of two students who applied at the end of September but who have still not received clearance and it is early December. I might not be a mathematician, but that is more than four weeks. It is...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Does Ms Nolan know the date of the election?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: The witnesses are very welcome. I have a few very brief questions. Deputy Costello referred to the credit rating organisations. Does the Department meet with their representatives regularly?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: When the recession occurred the rating agencies got it just as wrong as anyone else. Why do we put so much meas in the ratings?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Is there not an issue with the fact that there are so many different ratings agencies? Someone is calling it wrong somewhere. Standard & Poor's give us an A+ and Moody's give us Baa1.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: It is good that we are going in the right direction but if the ratings are going the other way, is there not a point at which we say they do not know what they are talking about?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: The fiscal advisory council is a welcome development. It is good to have someone outside looking in. What is the Department's engagement with it on a regular basis or is there any?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: At what point does the Department tell the Irish Fiscal Advisory Council what we are going to do and does it have an input into the decisions taken?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: I think it raised issues to do with the sustainability of the gain from corporation tax. It was said earlier that when large volumes of money come in, the new rules mean that one does not spend it straightaway. Is it just used to pay down debt?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Yes.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: One other area to which reference was made is to the credit union sector. Reference was made in the opening statement to the Credit Union Restructuring Board, ReBo. A total of €250 million was put up in this regard. Has the sector used approximately €64 million to date?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Was it the belief in the Department of Finance that the hole that existed was of the order of €250 million? How was the figure arrived at and how come there is such a difference between it and what has been drawn down? There were two funds, the fund for the resolution, which was €250 million, and a second fund of €250 million for the Credit Union Restructuring Board,...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: I know the regulator is based in the Central Bank, but would there be any concerns within the Department that there is over-regulation of the credit union movement at present?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: There is no fear of over-regulation at the moment?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: My final question is that in terms of the figures announced yesterday, it is good news.

Written Answers — Department of Education and Skills: Schools Building Projects Status (8 Dec 2015)

Paul Connaughton: 465. To ask the Minister for Education and Skills when the conveyancing process for a school (details supplied) in County Galway will be concluded so that work can begin on providing a new school; and if she will make a statement on the matter. [43514/15]

Written Answers — Department of Education and Skills: School Accommodation (8 Dec 2015)

Paul Connaughton: 507. To ask the Minister for Education and Skills if additional capacity will be provided at a school (details supplied) in County Galway to cater for the many students who wish to enrol there from September 2016, especially as it is planned to commence a new school building in 2018; and if she will make a statement on the matter. [43837/15]

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