Results 5,501-5,520 of 34,616 for speaker:Seán Fleming

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: You might send the detailed note that you have there on to the committee.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: Does the Deputy have money on deposit? I imagine a cheap overdraft would be more in her line.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: There are a few small issues. In recent years, the Oireachtas has set up its Parliamentary Budget Office, something we did not have before. Can Mr. Moran talk to me about the relationship between the Department and that office? The office is trying to assist the Oireachtas in terms of knowledge for budget planning but the budget comes from the Department. Is there close co-operation or...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: They are busy doing reports at this time of the year and the summer analysis but in the two weeks in the run up to the budget, which is the critical time when decisions are made, they are off the pitch. This has nothing to do with the Department but I find that they are a great help when it is not needed but once the game is on, they are up in the stand. I am sorry for insulting the whole...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: So it came in through that.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: I presume the people managing that account give an account back to the Department at the end of the year. Has it made a surplus? What is the reporting structure-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: By whom?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: That is good to know. From the public point of view, the Oireachtas oversight of this escrow account will come through the NTMA-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: We will invite the NTMA to appear before us with regard to its financial statements-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: That is good to know.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: We understand that. Where is the liaison person on behalf of the State in that fund? Is it NTMA personnel? We will hold over our questions. The Department was involved in the early stages but the running of it now is the responsibility of the NTMA.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: It is over to the NTMA. When it appears before the committee, this will be a new element in its annual financial statements. It is nice to know that because people will be curious. There is an ongoing mechanism to deal with that. Regarding the banks, I know that a few years ago, the previous Minister stopped the practice of appointing public interest directors to the boards of AIB, Bank...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: I put down a parliamentary question on it recently. I think two were filled in one of the banks while they are at the final stages in the other. My real question, which is what the public really wants to know, concerns the function of the ministerial nominee to the board of directors. Is the nominee allowed to report to the Minister or are we back to where we were with the children's...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: They have no responsibility to the taxpayer.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: It sounds nice but does not mean a whole lot.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: I ask Mr. Moran to send us a note to clarify the role. The Minister is the shareholder on behalf of the Irish people. People hear that the Minister has a nominee on the board and one cannot blame them for thinking that the person in question is looking out for the public interest but that is not the case..

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: I ask Mr. Moran to send us a note on the role, structures, the recent appointments and when any outstanding appointments are due to be completed. They are in a process involving the Public Appointments Service as I understand it. On the EU report outlining Ireland's transactions with the EU, this country's contribution to EU resources is 0.85% of Irish GNI. The figure for national income...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: I am almost surprised that Mr. McCarthy cannot do it.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: That is what I am getting at. I am not talking about the multinationals that have been here for 20 years or more-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council (30 May 2019)

Seán Fleming: Yes, the stuff that led to the development of GNI* to give a more accurate reflection. I ask the Department to provide that figure because in some ways, our EU contribution is offsetting the value of the additional corporation tax and it is important that we have the mix so we can see if there is a net benefit.