Results 16,041-16,060 of 26,579 for speaker:John McGuinness

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: No. For 2014 the Department is going to give Irish Water €439 million, and €399 million in 2015. On what is that based? How does it quantify it? Does it get an invoice for it, and does that invoice set out in detail how the Department arrived at the figure for the subvention?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: That is for 2015.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: So Ms Graham's guesstimate for 2014 is €439 million.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: The Department just took that figure and paid it to Irish Water.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: That subvention dropped in 2015, and it goes back up again in 2016 from €399 million to €479 million. How did the Department estimate those figures?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: The Department arrived at these figures of €399 million and €479 million. Is that right?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: On what were those figures based? Were they based on information from the regulator, the local authorities-----

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: Is this where the Department has the letter in place with them-----

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: -----or does that relate to the capital?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: For the subvention.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: And the expectations letter will set out further details.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: What is the legal status of both the funding letter and the expectation letter? I think I want Ms Graham to be my bank manager. That is simple enough, is it not? What is the status of both of these letters?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: To refer to the loans, there is a loan of €250 million in 2013 and a loan of €50 million in 2014. What is the interest rate on the loan?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: And the Department will get that loan of €300 million paid back, with interest, at the end of-----

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: But the Department will get its money back, with interest, at the end of-----

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: The next question in regard to central funding is the capital contribution. The Department is making capital contributions on top of all of this in 2014, 2015 and 2016 of €185 million, €222 million and €184 million. Is money to be given back to the Department? Is that redeemable in some way?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: But this is taxpayers' money.

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: The Secretary General is saying he has an expectation. Does the Department not have an end date to enable the taxpayers to believe there is something definite here? The taxpayer will be getting back the €300 million of the loan, plus interest, by the end of September. Can the Secretary General tell members whether the capital contribution is redeemable? Does the Department envisage...

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: It should be. What is the €54 million convertible loan?

Public Accounts Committee: Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services (5 Feb 2015)

John McGuinness: I have never seen as many flexible headings and amounts appear in accounts. The loan could be paid back by September, the other convertible loan could become something else and the €439 million and so on from the local government fund could continue beyond 2016. The Secretary General then made reference to when the business plan will be complete. What business plan?