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Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: It was mentioned in the Deloitte report. I mentioned it in the context of questioning.

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: I asked previously about the amount being spent on the reports by Deloitte and Grant Thornton. Will Mr. Neavyn provide the figure?

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: How is it split between the two companies?

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: In summary, having listened to all of the proceedings today, what happened in WIT prior to Dr. Neavyn taking over from the former president, Professor Byrne, has echoes of the Rody Molloy FÁS scandal, where there was abuse of taxpayers' money. I thank Mr. McFeely for being here today. That is extremely important in terms of public confidence in the education area and the spending of...

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: Before we continue, can we take it that Dr. Neavyn and his companions will come back before the committee again?

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: It is important they do.

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: Is there no line-by-line itemisation for the office of the president?

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: Yes.

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: I suggest that not only should we write to him concerning a right of reply but we should also invite him to come before the committee to give his viewpoint on the matter, although he may not wish to.

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: Who requested it then?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: To see a Labour man-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: Do you feel lucky?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I welcome the members of the council. I have a few short questions. First, how much is the bank guarantee worth to the State? What is the figure? They made reference to it. If the bank guarantee was effectively to be withdrawn, what level of tax revenues would the Exchequer forsake per annum? Professor McHale states there is an implicit guarantee regardless of whether there is a direct...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: What is the estimate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: Quite significant.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: If the bank guarantee was to be withdrawn, would it have an impact on Ireland's cost of borrowing? Would the cost of borrowing come down for the State? Ultimately, our objective is to come out of the programme and that is predicated on Ireland's bond yields internationally coming down to sustainable levels.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: The is the point I am making.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: It could be a gain to the ordinary taxpayer in the context that we must make fiscal adjustments. Obviously, we are dealing with people on the ground. Certainly, if one pulls out that banking revenue, it must be plugged somewhere.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I want Professor McHale's viewpoint on it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I tried to tuck it in under the radar.

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