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Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: The NTMA takes that money and manages and invests it.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: When Joe and Mary Bloggs lodge their money there, the NTMA manages it.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: Is it managed in liquid form or is it invested for them?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: Does it pay NTMA a dividend for doing that or does it do it for free as part of its role?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: They gather the money for NTMA and NTMA pays them a fee. I have a final question. It goes back to Deputy Cullinane's question about the escrow account. What does it mean if we are in negative interest in the context of the Apple money? Is it that we are putting in money and getting no return or losing some of the principle over the period?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: I know we agreed with Apple what we were going into, that there would be a three to five-year period and so on, but why would we not invest it where the principle was guaranteed and there was less risk?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: The NTMA could put it into the post office saving fund, could it not?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: If it goes on for ten years and we lose €16 million a year, that would be €160 million.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: And, of course, we may be in better shape in respect of it in five years. Who is managing the fund?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: Was the contract put out to tender?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: Are they paid by the NTMA, Apple or the fund?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: That is all done on pre-negotiated rates as per the contract and so on.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018
(4 Jul 2019)

Marc MacSharry: That is great. I thank Mr. O'Kelly.

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Rail Services Provision (9 Jul 2019)

Marc MacSharry: 53. To ask the Minister for Transport, Tourism and Sport if his attention has been drawn to capacity issues being experienced across the rail system; if additional capacity will be delivered within the next couple of years; and if he will make a statement on the matter. [29957/19]

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Rail Services Provision (9 Jul 2019)

Marc MacSharry: Is the Minister for Transport, Tourism and Sport aware of the considerable capacity issues being experienced across the entire rail network, from the commuter towns to Dublin and other major cities, and on intercity lines? The Minister is surely aware of the chronic overcrowding on services and the commuting misery suffered by many families. While we encourage people to use public...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Rail Services Provision (9 Jul 2019)

Marc MacSharry: The "live horse and get grass" approach is not working for us. The Minister says he expects a business case shortly. There is an administrative merry-go-round from the board of Irish Rail to the NTA, the Department, the Minister and Cabinet. What sort of timelines are we looking at? It will take 18 months to make rolling stock available for use after it is ordered. My understanding is...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Rail Services Provision (9 Jul 2019)

Marc MacSharry: The targets for Irish Rail are 75:25. It is at 48 million journeys and heading for 75 million journeys by 2025. The Minister said the procurement process for 300 carriages has started, albeit it is intended to be 600 new vehicles over ten years, but all that has been issued is a call for expressions of interest that it is hoped to receive by the end of July. At the snail's pace at which we...

Written Answers — Department of Transport, Tourism and Sport: Rural Transport Services (9 Jul 2019)

Marc MacSharry: 67. To ask the Minister for Transport, Tourism and Sport his views on whether there is sufficient public transport in rural Ireland; and the status of pilot projects in this regard. [29576/19]

Written Answers — Department of Transport, Tourism and Sport: Football Association of Ireland (9 Jul 2019)

Marc MacSharry: 68. To ask the Minister for Transport, Tourism and Sport his views on whether it will be appropriate for an organisation (details supplied) to alter its governance structure following an internal review of governance in advance of the completion of other external reviews into the organisation, including that being conducted by the Office of the Director of Corporate Enforcement. [29574/19]

Written Answers — Department of Transport, Tourism and Sport: Roads Maintenance (9 Jul 2019)

Marc MacSharry: 81. To ask the Minister for Transport, Tourism and Sport his views on whether local and regional roads are in a satisfactory and safe condition; and if he will make a statement on the matter. [29575/19]

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