Results 18,361-18,380 of 34,956 for speaker:Seán Fleming

Public Accounts Committee: Business of Committee (6 Jul 2017)

Seán Fleming: We were told the report will not be ready. We just got a message. We might try to find out more during the course of the day.

Public Accounts Committee: Business of Committee (6 Jul 2017)

Seán Fleming: During the course of the day we will try to establish a bit more information on it. At this stage, we have completed our discussion on the work programme and any other business. We will now move on to the Department of Finance Appropriation Accounts and the chapters in the report of the Comptroller and Auditor General under that Vote. We will suspend the sitting while the witnesses...

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: The committee is now in public session. Today we are joined from the Department of Finance by Mr. Derek Moran, Secretary General and Ms Ann Nolan, Second Secretary General. I am told that it might be Ms Nolan's last appearance before the committee.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Ms Nolan is moving on. We are also joined from the Department of Finance by Mr. John McCarthy, assistant secretary, Mr. Derek Tierney, principal officer and Mr. Fiachra Quinlan, assistant principal. We are also joined by Ms Victoria Cahill from the Department of Public Expenditure and Reform. I remind members, witnesses and those in the Public Gallery that all mobile phones must be switched...

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: I thank Mr. McCarthy and call on Mr. Moran to make his opening statement.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: I thank Mr. Moran. The speaking order is Deputy Catherine Murphy, Deputy Marc MacSharry, Deputy David Cullinane, Deputy Catherine Connolly and Deputy Josepha Madigan. Deputy Catherine Murphy, the first speaker, has 20 minutes.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Could Mr. Moran explain "contract manufacturing" for the members of the public who do not understand the term?

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Deputy Murphy has five minutes remaining.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Yes, final question.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: I will call Deputy MacSharry next.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Levy.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Deputy, we are on time.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: The Deputy is well over her time.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: I was being generous.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Grand. Some other members will come back with a second set of questions in a few minutes. One thing that may have surprised people here, and I have never heard it stated so openly and directly, is Mr. McCarthy's comment that Ireland has the second highest debt per capita in the world.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Would that be OECD countries?

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Mr. McCarthy might send us that list and whatever document of international comparisons that he took it from.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Send us the list of international comparisons of debt per capita for all of the advanced countries. Are we talking about state debt?

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: One of the biggest difficulties we have in Ireland, and the reason why the recession was more difficult this time around, is the level of personal debt. State debt is state debt but then we add the personal debt to it.

Public Accounts Committee: 2015 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 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Most people are carrying more than €43,000 debt on their shoulders as a result of mortgages. Does the Department have an indication of the average personal debt in this country? What is the total debt per person? I am sure that adding in personal debt would put us far above Japan.