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Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: How many of those are abroad?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: They are over and back.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: How many are in New York, for example?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: Let us say the IDA has to pay €10,000 a month in rent for an apartment for each of them.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: It would not be far off that. Let us say €8,000 to €10,000, which would be the market value over there. Would it be reasonable to ask the question as to what our 15 people are doing? Why do we need ConnectIreland to come up with 500 jobs in the various offices throughout the world? Can we do not do what they do?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: Yes.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: Why would we need ConnectIreland?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: I remember it.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: Sorry for interrupting but time is short. From a taxpayer's point of view, why would we pay €160 million to the IDA in taxpayers' funds to do a job and then have to pay €3 million or €4 million to somebody else to do the same job?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: ConnectIreland or the IDA?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: It has not worked out great.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: They are not the contractee any more anyway, so are we keeping going with this?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: Has the IDA made changes to training and the approach of staff who are abroad and, indeed, the 322 staff overall, to mimic whatever it is Connect does in order that we do not have to pay that kind of money to anybody in the future?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: It is the world champion at what it does, but it is not just about that. I am just wondering whether ConnectIreland was some superficial thing we entered into as a country that really produced nothing and which we now are going to stop or whether it was something good we will replicate. The natural follow-on question is what the 322 people are doing if we need another company to do the same...

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: If it was Mr. Shanahan's personal call, would he have put the €3 million into some other IDA activity?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: I know that.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: IDA owns the building which was leased to the Iranian Embassy at one stage. Is that correct?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: I am sure we are not engaged in renting to too many embassies, so Mr. Shanahan is probably right. Why were we doing that?

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: The IDA has it back now.

Public Accounts Committee: IDA - Financial Statement 2016 (5 Oct 2017)

Marc MacSharry: The IDA bought them out.

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