Results 4,521-4,540 of 6,207 for speaker:Jennifer Carroll MacNeill

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: Has that process begun?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: I do not know the details of the contract. I do not know if NBI has to indicate that this is the expectation or that it is engaged in a process or talking to people or anything.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: So having gone through a process of finding new shareholders, NBI then gets ministerial consent for same.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: This sits against our conversation earlier about the return, the 12% and so on, but what are the implications, if any, of being unable to replace shareholders who exit?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: The risk picture has become clearer.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: The risk is reduced.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: NBI is attracting new investors based on lower risk long-term capital

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: What is the offer to them in terms of interest rate or return? Presumably it is different from the 12%.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: Is it really the case that they come in at a lower risk profile but get the same return as when it was perceived to be higher risk, which we had quite a discussion about? Can I invest?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: No, I get it. Okay, that is fair enough.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: I have another question but Deputy Carthy can go ahead.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: I will ask about the financial changes. We have talked about the shareholders who are exiting now. Are the incoming long-term investors paying up front to get in? Are they paying a price to come into the structure?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: The price the long-term investors pay to do that will allow the shorter-term investors to crystallise their gains.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: We talked about interest rates earlier. What is the interest rate under which the new investors are coming in? Is it a nominal rate?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: We are talking about 12.5% now but the price at which they pay in might reduce their overall return to, for example, 5% or 6%.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: The returns for the shorter-term investors and longer-term investors are extremely different. That difference could be 7% or 8%.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: I appreciate that.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: I do not have a difficulty with shareholders investing money and getting a return; it is a commercial venture. I am asking questions around the financial stability of the model. We spoke earlier about an idea becoming a reality. It seems there was a hurry to put some structures in place to get shorter-term investors in, in the first instance. That is why we are asking questions.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: We want this project delivered commercially and for the State. That is fine. These are important questions for us to ask.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters (10 Feb 2022)

Jennifer Carroll MacNeill: That is a point of difference because I would not have contended it was as risky an investment as perhaps was suggested in the first instance. It seemed to me an obvious project with a State-backed contract for a major commercial opportunity. It was underpinned, as the Chairman said, very strongly. It did not have a high risk profile. That is as may be. That is a difference of opinion...