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Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: Is it something NAMA could consider, or is it prevented from-----

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: Does NAMA still have that amount of money in its bank account after that?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: Is is something NAMA could consider? Is it prevented from looking at it?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: Yes, but it will have more income.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: It does not feel like it.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: Repaying a senior bondholder does not feel like a dividend to anybody. That is all I will say.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Seán Fleming: I will conclude. Mr. McDonagh and Mr. Daly can think about it. The taxpayer could do with getting something back in the meantime, as an interim payment. That is all I will say.

Written Answers — Department of Education and Skills: Schools Building Projects Status (6 Oct 2015)

Seán Fleming: 630. To ask the Minister for Education and Skills if adequate funding will be provided to complete a project (details supplied) in County Laois; and if she will make a statement on the matter. [34010/15]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: In the context of the framework for the forthcoming budget and changes to the new national fiscal framework, now that we have entered the preventative arm of the pact, one of the key rules is expenditure benchmark, which will allow expenditure to grow only with reference to potential GDP within the context of the medium-term economic strategy. That was based on a ten-year rolling figure up...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: I understand all that and why we moved from the ten year timeframe, but what is the financial space available as a result? My time is very limited.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Yes, when it occurred.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Was the Spring Economic Statement produced on the basis of this new three year basis?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: No.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Right.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Are we taking a three year average or a ten year average?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: So what years have dropped out of our average?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Did the Spring Economic Statement incorporate that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: I did not think people appreciated that point. The witness gave a figure of an extra 0.4%. Is this 0.4% of the €60 billion in spending? Is that the €140 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: On page 27, okay. I direct the witness to his own chart No. 13 where it is stated that the SME credit growth is strengthening. That intrigued me. What does the witness mean by SME? Is that based on the number of employees in an organisation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Macroeconomic Forecast for 2016: Department of Finance (6 Oct 2015)

Seán Fleming: Do these figures for SMEs include big aircraft leasing companies that might have only a small number of employees?

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