Results 2,561-2,580 of 14,090 for speaker:Marc MacSharry

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: Rent is just dead money though. It is just a personal view, but the NTMA is not going to close down any time soon and it would make better sense to purchase or build a building or to take over a State-owned building, rather than dishing out money. Is a lease on Treasury Building being broken to facilitate the move?

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: NAMA is there as well.

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: Will it be there for whatever period it has left?

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: What is the post office savings bank 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: The old-fashioned book, that we all had our 50p in. The NTMA is given that money and it manages that 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: 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.

Death of Former Member: Expressions of Sympathy (3 Jul 2019)

Marc MacSharry: I welcome Anne, Eidín, Niamh, Deirbrin, Niall, Donagh is here in spirit, Medbh, Eimhín, Bid, his sister, Vera is not here with us today, and we have special memory for Mark junior today. I welcome also his grandchildren. I welcome Mr. Tom Craven, as a representative of the many tens of thousands of people who supported the Killilea family and politics through the generations, as...

Death of Former Member: Expressions of Sympathy (3 Jul 2019)

Marc MacSharry: They were halfway there.