Results 20,361-20,380 of 26,053 for speaker:Kieran O'Donnell

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Would these six employees receiving performance related bonuses of €43,000 have been high paid or low paid employees?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: How many of the staff Mr. Corrigan was going to make reference to are on more than €200,000?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Mr. Corrigan's staff has increased, from 433 at the end of 2011 to 657 at the end of 2013, that is, 224 extra employees. Approximately 336 staff have come, including those to compensate for the lost 112. In what areas were these? That is a 52% rise in staff.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Mr. Corrigan is being paid approximately €446,000. It is an enormous salary. How does he justify such a salary to the ordinary person looking in who is unemployed or struggling? Obviously, we have to ask these questions because of the sheer level of it.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: The National Pensions Reserve Fund was set up originally to provide funds for both public and social welfare pensions. In a short time it is becoming a strategic investment fund. Where do Mr. Carty and Mr. Corrigan see its remit? There is a remit whereby 20% of investments can be non-Irish. Feeding into that as well, what advice will they be giving to Government in terms of disposal of...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: I thank Mr. Carty. On a positive note, the NTMA has a cash balance of €18 billion. I have two questions on that. What does Mr. Corrigan believe would be the norm for the NTMA to hold into the future? What is the additional cost in terms of holding such cash reserves above the norm? Mr. Corrigan might deal with those two points. Mr. Corrigan referred to entering the market in the...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What does Mr. Corrigan anticipate ten year bond yields being over the next two years? What would he be happy to see?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Is that a leading question?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: How long does Mr. Corrigan anticipate that will continue?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Mr. Corrigan has absolute privilege.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What would Mr. Corrigan see as a-----

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Yes.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: We are trading at about 1.65%.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Traditionally, what would we have traded at?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: A normal market.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Indulge me for a moment.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: I want to touch on an issue that has come up at every meeting, namely, salaries within the NTMA. I will start with Mr. Corrigan's salary. In the NTMA's accounts, which are published, his salary is €416,500 in 2012 plus taxable benefits of just short of €30,000. The total package is approximately €446,000. He was entitled to a performance related bonus of up to 80%,...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Whether Mr. Corrigan would be entitled to the bonus was not even considered.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Does that apply in 2013 and 2014 as well?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What about 2014?