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Public Accounts Committee: Business of Committee (4 Oct 2012)

Kieran O'Donnell: That is a sensible suggestion. In regard to logistics, it appears that our hearings will take place over a period of 11 days. For how long is it proposed that we should sit on each of these days? Our hearings have to be structured and inclusive. The briefing by the Minister will use up one day, while our private meetings will use up two. We will have only five days of public hearings.

Public Accounts Committee: Business of Committee (4 Oct 2012)

Kieran O'Donnell: I am excluding the Minister.

Public Accounts Committee: Business of Committee (4 Oct 2012)

Kieran O'Donnell: My apologies, there will be six days of public meetings.

Public Accounts Committee: Business of Committee (4 Oct 2012)

Kieran O'Donnell: I am not proposing anything. I am asking about the logistics in terms of the number of hours we will sit. Will we sit all day? It is important that we be inclusive, as the time period involved is relatively short. I seek information on the logistics. While I obviously will defer to the other committee members, I think it should be intensive and over a short period. It should be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: My comments were in the context of the domestic economy. The core of unemployment is found in the small to medium-sized enterprise, SME, sector. As spending power decreases, SMEs' revenues are affected. I understand the macro situation in terms of Ireland Inc., but I am considering the profile of those who are unemployed. Many used to work in construction, but a cohort are from the SME...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I welcome the members of the council. I have a few short questions. First, how much is the bank guarantee worth to the State? What is the figure? They made reference to it. If the bank guarantee was effectively to be withdrawn, what level of tax revenues would the Exchequer forsake per annum? Professor McHale states there is an implicit guarantee regardless of whether there is a direct...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: What is the estimate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: Quite significant.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: If the bank guarantee was to be withdrawn, would it have an impact on Ireland's cost of borrowing? Would the cost of borrowing come down for the State? Ultimately, our objective is to come out of the programme and that is predicated on Ireland's bond yields internationally coming down to sustainable levels.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: The is the point I am making.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: It could be a gain to the ordinary taxpayer in the context that we must make fiscal adjustments. Obviously, we are dealing with people on the ground. Certainly, if one pulls out that banking revenue, it must be plugged somewhere.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I want Professor McHale's viewpoint on it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: I tried to tuck it in under the radar.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: That is a political rather than an economic answer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: Define-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: In layman's terms, would Professor McHale define what the council regards as debt sustainability for Ireland? At what point does our debt become sustainable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: Do you feel lucky?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report September 2012: Discussion with Irish Fiscal Advisory Council (27 Sep 2012)

Kieran O'Donnell: To see a Labour man-----

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: I suggest that not only should we write to him concerning a right of reply but we should also invite him to come before the committee to give his viewpoint on the matter, although he may not wish to.

Public Accounts Committee: Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits (27 Sep 2012)

Kieran O'Donnell: Who requested it then?

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