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Committee on Housing and Homelessness: Business of Committee (31 May 2016)

John Curran: Good morning. We have a quorum and are now in public session. I remind colleagues again that mobile phones must be put in flight mode or switched off completely, as should any other device that might interfere with the broadcast of proceedings. In accordance with standard procedures agreed by the Committee on Procedure and Privileges for paperless committees, all documentation for the...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I draw the witnesses' attention to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of the evidence they are to give to this committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to qualified...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I thank Mr. O'Kelly. I know there will be a number of questions, in particular regarding the off-balance-sheet aspect of funding. Before we take questions, I invite Mr. Dorgan to speak.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I thank Mr. Dorgan. Before I open the meeting to questions, perhaps Mr. O'Kelly would clarify two or three technical points specifically in relation to issues he mentioned. He mentioned the possibility of funding student accommodation in, say, DCU. What progress has been made on that issue and is that deemed to be an off-balance sheet investment? Second, he referred to an infrastructure...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: What is the potential outturn for Activate Capital?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: We hope the fund will be successful this year and next year in particular because we need a catalyst in the market.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I will take the answers as we go along. Deputy Durkan's question on procurement might be better directed to the relevant Minister and his departmental officials, although it can also be directed to those who are here today. Representatives from the Department in question will be before the committee later in the week.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I support the point the Deputy made about the Housing Finance Agency, HFA, which stated in its recent report that, based on current rates, it expects that it will be able to offer rates at less than 1.75%, fixed for 25 years, to local authorities for development finance. I believe that is the figure the Deputy sought.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: When the Deputy is directing-----

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: The Deputy should put questions to both sets of witnesses and they will answer those which are relevant to them..

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Individually. When it is her turn, the Deputy should direct the question to either person and both will answer, one after the other.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: There is an element of crossover on some issues and members were not sure who would have responsibility. That is why both sets of witnesses are present. The Deputy should direct her questions to one or both.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: We will get to the Deputy in due course. Mr. O'Kelly might reply to Deputy Durkan.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: There were a number of specific questions there, so the representatives can decide among themselves who will take them.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Do the witnesses wish to comment?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: We will start on the deliberations next week and some of those will be the recommendations. Do the witnesses want to comment on anything Deputy Cowen said?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: That is fair enough. I call Deputy Brophy.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I thank the Deputy. Is the Department aware of the situation in Austria?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: In a bid to be helpful to the committee, the last time the Minister for Finance was at this committee, he spoke about the French model and Mr. Dorgan subsequently sent on some information. If Mr. Dorgan has any further information regarding the measures referred to by Deputy Collins, he might forward them on by correspondence.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I will ensure Deputy Collins receives it also.

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