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Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: An action by a German company should not decide-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Is it in the NTMA's interest-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Mr. Breen is telling us that the German company will be walking off the pitch quite soon.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: If the NTMA does not get it solved soon, we will end up paying it all rather than getting a share of the-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Where is that case in the courts? Is it before the High Court or the Supreme Court?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: It could possibly go to the Supreme Court.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: While the Deputy was out, we asked about the cases relating to in-cell sanitation in prisons. Mr. Breen indicated that there is one case before the Supreme Court and that this will be a key element. When that is dealt with by the Supreme Court, the 1,635 can then be dealt with one way or the other.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Sometimes we have to wait for just one case to come through the system.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: I have some final questions. I refer to page 12 of the information notes the witnesses submitted. Representatives from the Department of Finance were before the committee a while ago. People think the country is fine - and it is - but we forget about the debt. It does not cross people's kitchen table, so to speak, and they do not think about it. However, as a person from the Department...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Those are four countries we thought we had separated from financially but when we drill into the figures for Government debt to Government revenue, we are not far away from that group. In terms of a percentage of our total income going on interest every year, we are the fourth highest in the European Union on both of those charts. That has to be a worrying trend.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: I presume that, from a professional perspective, if there is a sale of bank shares or something like that, Mr. O'Kelly would like us to start reducing that type of figure.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Finally, I was very pleased to see an advertisement from the State Claims Agency in all the newspapers about two weeks ago. The advertisement in question requests submissions to the expert group to consider alternative mechanisms to the core process of resolving clinical negligence claims. That is fantastic. Item No. B in the advertisement refers to considering whether there may be...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Yes, Mr. Justice Charles Meenan.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: I was giving the witnesses credit for the advertisement. I see it is the Departments of Health and Justice and Equality, but this is fundamental to the work they do.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: They seem to be doing work on alternative mechanisms, mediation and the cervical cancer issue because of the time issues involved in some of the cases, but why have they not moved to deal with more of that on the other cases?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Okay. Give us the figures so that the public can appreciate what Mr. Breen is saying.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: It would be helpful for people to hear this.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Does Mr. Breen have a figure? What was the quantum of money relating to those? Was it a lot or a small amount?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Would it have been €1 billion?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Seán Fleming: Mr. Breen might send us something on that because the 122 is a small number in respect of the 10,000 but it might be big when it comes to money.

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