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Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: Will Mr. Scanlon take us through how the fund arose?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: There is €35 million in that fund as of 31 December 2018. Davy Asset Management brokers manage the fund but the Charities Regulator's office is the custodian. Who are the beneficiaries of that fund?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: And all of those charities who own that fund are still live charities. Are they all regulated by the Charities Regulator?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: If they seek a return of their funds, the Charities Regulator would presumably not do that if they were not registered or if there were compliance issues.

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: That would be of concern. I know that, very often, things cannot be done in retrospect. If an organisation is not in the area of compliance, however, that puts the regulator in a very precarious position, I would have thought.

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: How many entities are involved with the €35 million?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: It has gone from €35 million to €39 million, so there is €4 million from the investment because it has been closed.

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: When was he reappointed?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: How long is the term? Is it four years?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: I agree.

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: May I ask a tiny question on this point? Does the regulator look at the benefits in addition to the salaries?

Public Accounts Committee: 2018 Financial Statements of the Charities Regulatory Authority (21 Nov 2019)

Catherine Murphy: It is probably more of an issue for existing bodies.

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: There was much emphasis in the budget on the carbon tax increase being ring-fenced. I remember several years ago starting to ask about ring-fencing carbon taxes, which I did on numerous occasions. I was told we did not do hypothecation. I think that was the terminology used. There was much emphasis put on that because it was about changing behaviour. The €90 million was about...

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: If I may stop Mr. Carroll on that, it went into general tax receipts, so it was not about changing behaviour.

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: Can Mr. Carroll tell me what choices people have in terms of fuel, for example? Individuals do not have a choice. The big choices are about how electricity is to be generated. Probably the only choice people can make is how they move around - whether to use public transport as opposed to a car. They can use less energy but they cannot choose the type of energy that comes into their home....

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: We have fairly limited time because other members want to get in. I want to focus on why, if it is about behavioural change, it is only the increase in the carbon tax that is ring-fenced. Has the Department done any work on the relationship between behavioural change and carbon taxes?

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: Of the €3.35 billion that has been collected since 2010, how much has been spent on initiatives that change our behaviour and usage? Is it possible to tell us that?

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: Maybe Mr. Carroll would put that together and give it to us so we can actually see what the figures are. If we are spending all that money on changing behaviour and mitigation, we must be lousy at it because we are missing our targets. It seems like a sizable amount of money. Some of it is spent on purchasing credits, although not that much. It would help if we could see the balance...

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: Mr. Carroll told us that twice already. I regularly advise people on that point.

Public Accounts Committee: 2018 Annual Report of the Accounts of the Public Services
Chapter 9 - Greenhouse Gas-Related Financial Transactions: Discussion (Resumed)
(21 Nov 2019)

Catherine Murphy: I ask Mr. Confrey to send us information within the balance sheet type of arrangement on where we are investing and what are the prospects. I ask the witnesses to summarise the financial consequences of not meeting the targets. Has that been projected? What will be our State-wide financial liability for not meeting targets?

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