Results 11,281-11,300 of 20,094 for speaker:Brian Stanley

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)

Brian Stanley: Okay. I take it that is unsecured. In reality, the State has ponied up for between €2.6 billion and €2.7 billion. We know that. I do not have time to go into it now but previous questions and commitments regarding milestones turned out to be very different in terms of penalties. Assurances other Deputies and I got on the floor of the Dáil got in 2018 and 2019 were...

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)

Brian Stanley: It is a healthy investment.

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)

Brian Stanley: I get 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)

Brian Stanley: It is a healthy return on an investment.

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)

Brian Stanley: It is a healthy return for all those investors who have joined it now-----

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)

Brian Stanley: -----at 12% compound interest rate on a project that is underwritten by the State. Those are the facts of it.

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)

Brian Stanley: There is now though.

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)

Brian Stanley: There is a queue now on a 12% compound interest 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)

Brian Stanley: Look at the number of investors.

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)

Brian Stanley: Openreach was mentioned earlier.

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)

Brian Stanley: In reality, a whole bundle of short-term investors, which some would describe as vulture funds, have seen an opportunity here underwritten by the State with a return of 12% compound interest rate. Is that not the reality?

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)

Brian Stanley: There have been two different plans in terms of the roll-out schedule. Another remedial plan is coming. Covid-19 was the reason given. I understand, as will committee members, that that would cause some disruption in the real world. Telecommunications is one of the areas that continued right throughout that period. It was exempt. That is the first thing I will say to Mr. Hendrick. The...

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)

Brian Stanley: I call on Ms Fisher to be brief because we are well over time.

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)

Brian Stanley: I will let the Deputy back in during the second round of questioning. There a couple of other members waiting to contribute. I will let the Deputy back in after that. Is Deputy Carroll MacNeill okay?

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)

Brian Stanley: In terms of-----

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)

Brian Stanley: The overall subsidy from the State that was mentioned at that time was much lower. It was a percentage of the final €2.6 billion or €2.7 billion.

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)

Brian Stanley: I understand 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)

Brian Stanley: To go back to the very start, when there were five bidders, the figure was less than one fifth of the final sum. When there were three bidders, it was approximately 40% of the final figure reached. That was what the Minister kept telling me.

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)

Brian Stanley: In September, the subsidy that had been received was €122 million. One of the witnesses today confirmed, if I heard it right, that €177 million has been received to date. Could Mr. Kelly state whether that is correct?

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)

Brian Stanley: At the end of December it was €177 million.