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Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: The response has said that the Minister for Finance and for Public Expenditure and Reform is informed by the National Treasury Management Agency that it notes the issue. The NTMA has accepted most of the recommendations but does not accept the committee's comment that it is worryingly high.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Yes. It was a conclusion the committee made on Ireland's national debt that it was worryingly high. It was noted. They neither agreed or disagreed.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: When one takes personal debt into account, Ireland is next to Japan in the world figures. I will now turn to recommendation A.26. The committee recommended that the Ireland Strategic Investment Fund, ISIF, publishes a list of housing completions on at least a quarterly basis. The idea is that the statistical information gathering is not last century but is prior to the last century. The...

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Not yet. The committee is not here next week. If we have not had a response to that request by the date of our next meeting, which is 13 June, and which will have been some five weeks since our last meeting with the board, then we will set a date to bring the board in to answer personally why its members have not replied.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: That is 13 June. If the response is not here by then we will bring the board members in.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Deputy MacSharry will note that we have received the Irish Banking Resolution Corporation special liquidation: progress report update, dated 22 May, which is just a couple of days ago and so have not looked at it yet.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: I have not yet. Is that update relevant to the issue or is it fundamental to the Deputy's point?

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: I have no doubt that the Deputy will raise the issue later in the meeting.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Okay.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Special legislation.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: On the previous that Department of Finance officials were before us, we were shocked at how few staff were allocated to supervising this. We were all stunned.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: It was unreal. There were very few staff.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Something like two staff dealing with a €1 billion project.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: Not at all.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: This matter forms part of today's meeting. Second, there is a proposal, which has been seconded, that we invite the two named people in. I do not think we want to get into holding meetings on Tuesdays and Wednesdays. The only time for a meeting such as this is a Thursday afternoon and if a meeting finishes at 3 p.m.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: I am just indicating that. Unless members want to start meeting on Tuesday, I am happy to do so but members have other commitments as well. Are there any requests? We cannot have too many of them because we have a busy schedule from now until the middle of July. If this meeting is to happen, it will be on a Thursday afternoon at the conclusion of the day's business, and the quorum will be...

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: There is a proposal, which has been seconded. Is that agreed? Agreed. We are just finished now and next is the work programme-----

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: We did not finish them and we are going to finish them. Work is proceeding on bringing them all to a conclusion because we had other chapters in the periodic report. What we will decide ourselves at our next meeting is whether we will launch them separately or together. If we launch them, it will take a couple of weeks to get it on the schedule so it will be towards the end of June one way...

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: We will discuss that. I have outlined how I see the issue.

Public Accounts Committee: Business of Committee (30 May 2019)

Seán Fleming: That is the real issue. Yes, it will be launched well before. It will be June or thereabouts. The only issue we have to decide as a committee is whether to have two launches or one launch one week and another ten days later. That is a scheduling issue but the report will be there but we must decide whether it will stand-alone or be part of the other, which we will discuss among ourselves.

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