Results 25,001-25,020 of 34,778 for speaker:Seán Fleming

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

Seán Fleming: I am surprised to hear that, based on what Mr. McDonagh is saying to me now, when NAMA winds up sooner or later we will not be able to see the outworking of the loans it took over as to what each of the institutions cost. The biggest issue as a result of the banking and the property crisis is how much went in to bail out the banks. If NAMA comes out with a surplus or something else at the...

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

Seán Fleming: That represents €60 billion of the approximately €70 billion, which is 85% of it. In terms of 250 cases, it cannot be impossible for people to break down the loans because if, hypothetically, NAMA did a deal with a debtor - I am not talking about any one case - and €100 million went into it but, ultimately, it only got €50 million and that money was spread over...

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

Seán Fleming: It would be good to have a breakdown for the 250 big ones anyway, or even some analysis. Mr. McDonagh must have a gut feeling about it himself.

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

Seán Fleming: Is there anything preventing NAMA at this stage from paying a big dividend back to the Irish taxpayer today, tomorrow, next week or before the end of the year? Mr. McDonagh has told us NAMA has made €1 billion and that it will make €1.75 billion, and that is a prudent figure. What is stopping Mr. McDonagh from handing the Minister for Finance a cheque for €1 billion...

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

Seán Fleming: I believe Mr. McDonagh is confident about the figures he has given us. I can understand him not wanting to pay back anything to the taxpayer until everything else is sorted out, but I do believe he has confidence in his projection that NAMA will make €1.75 billion. It is a different issue if he is not confident that he will achieve that, but I do not believe that is the case. If Mr....

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

Seán Fleming: But Mr. McDonagh has said he is two years ahead of schedule.

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

Seán Fleming: NAMA has €1.8 billion.

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

Seán Fleming: I went through the NAMA figures a moment ago and I read them out at the beginning of my contribution. NAMA has €1.8 billion sitting in cash, as we speak.

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.

Ceisteanna - Questions - Priority Questions: Government Expenditure (1 Oct 2015)

Seán Fleming: 3. To ask the Minister for Public Expenditure and Reform if he will provide a projection of the Supplementary Estimates in respect of overall Government expenditure that will be required in 2015, notwithstanding that the final confirmation of supplementary expenditure is not yet available; if these details will be provided in advance of budget 2016; the way in which the supplementary...

Ceisteanna - Questions - Priority Questions: Government Expenditure (1 Oct 2015)

Seán Fleming: I ask the Minister to provide a projection of the Supplementary Estimates in respect of the overall Government expenditure that will be required this year. While I accept that the full details are not available at this stage, I ask him to provide an estimate given that indicative figures are already available in some Departments. If he does not have figures available today, will he have...

Ceisteanna - Questions - Priority Questions: Government Expenditure (1 Oct 2015)

Seán Fleming: To summarise the Minister's response, the House will be given a close estimate of the final outturn of expenditure on budget day. This will include possible Supplementary Estimates, although the figure will not be precise.

Ceisteanna - Questions - Priority Questions: Government Expenditure (1 Oct 2015)

Seán Fleming: If the budget for 2016 is based on the outturn for 2015, the Minister must have a reasonable indication of the 2015 outturn figure. It is possible that no Supplementary Estimates will be introduced. Does this mean the budget will be based on figures in respect of the outturn of expenditure in 2015? If so, will this figure be held back from the Dáil or will this information be shared...

Ceisteanna - Questions - Priority Questions: Government Expenditure (1 Oct 2015)

Seán Fleming: If the expenditure is for good purposes, this side of the House will not argue against it. However, as my party's spokesperson on public expenditure, my objective today is to discuss the budgetary process with the Minister. He confirmed that a minimum of €250 million in Supplementary Estimates will be required for the three items of expenditure to which he referred. Further...