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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: I welcome the Minister for Finance, Deputy Noonan, and thank him for coming before the committee. I presume he had no issue with appearing before the PAC today?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Both.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: So it actually took 24 hours, that was all?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Was there an issue? That is all I am trying to establish.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: What was the precedent?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: But many other Ministers-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Okay.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: I thank the Minister, as I wanted to clarify that point. As he is aware we are all stuck to certain time limits so précis answers will be appreciated. There was a bit of a controversy here last week with regard to selective briefings. The Minister agreed to come before the committee on 20 September. It is now 6 October and I presume there have been no briefings with regard to any...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Okay. I just wanted to get that technicality out of the way because we will be asking that of everyone who will appear before this committee on this matter. We have a fairly detailed report here and the committee has to get to the facts. The Minister will be able to help us get to the facts but the report is quite incredible. Does the Minister accept the report?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: So the Minister has confidence in both organisations?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: How does the Minister tally that, given the organisations are at odds with regard to £190 million?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: But again-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Okay, we will come back to that point but-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: I know but the Minister should be conscious that-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: We have time constraints, which is the issue here.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Okay.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: I know but once we get the gist of it I am not going to pursue the Minister on it.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Do not worry, if I need to I will. With regard to dealing with NAMA, it has quoted the Department as saying that the standard of expertise and experience of staff at the Comptroller and Auditor General's office is questionable with regard to how they performed when looking at this sale. How does the Minister feel about that and is it reflective of the Department's view? Has the Department...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: Why would NAMA, in that reference to the Department of Finance, feel there was not that level of competence, expertise or staffing in the Office of the Comptroller and Auditor General to carry this out to the level required?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Alan Kelly: But they are not in charge.

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