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Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: The fiscal advisory council is a welcome development. It is good to have someone outside looking in. What is the Department's engagement with it on a regular basis or is there any?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: At what point does the Department tell the Irish Fiscal Advisory Council what we are going to do and does it have an input into the decisions taken?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: I think it raised issues to do with the sustainability of the gain from corporation tax. It was said earlier that when large volumes of money come in, the new rules mean that one does not spend it straightaway. Is it just used to pay down debt?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Yes.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: One other area to which reference was made is to the credit union sector. Reference was made in the opening statement to the Credit Union Restructuring Board, ReBo. A total of €250 million was put up in this regard. Has the sector used approximately €64 million to date?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: Was it the belief in the Department of Finance that the hole that existed was of the order of €250 million? How was the figure arrived at and how come there is such a difference between it and what has been drawn down? There were two funds, the fund for the resolution, which was €250 million, and a second fund of €250 million for the Credit Union Restructuring Board,...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: I know the regulator is based in the Central Bank, but would there be any concerns within the Department that there is over-regulation of the credit union movement at present?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: There is no fear of over-regulation at the moment?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
(3 Dec 2015)

Paul Connaughton: My final question is that in terms of the figures announced yesterday, it is good news.

Written Answers — Department of Agriculture, Food and the Marine: Agriculture Scheme Payments (2 Dec 2015)

Paul Connaughton: 75. To ask the Minister for Agriculture, Food and the Marine when payment under the Areas of Natural Constraint Scheme and the Basic Payment Scheme will issue to a person (details supplied) in County Galway; the reason for the delay; and if he will make a statement on the matter. [43122/15]

Credit Guarantee (Amendment) Bill 2015: Second Stage (Resumed) (26 Nov 2015)

Paul Connaughton: I thank the Acting Chairman for the opportunity to contribute on this Bill. Providing greater ease of access to credit for SMEs is at the core of this debate. The scheme, which was established three years ago, sought to augment rather than replace conventional access to credit and it is important that the Government continues to review the scheme's operation and makes amendments where...

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: I will keep this brief because much of this has been discussed already. I welcome the members of the deputation. My questions relate to the Indecon report. The last time the deputation from Bord na gCon was before the committee certain positions were unfilled. Have they been filled since?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: The Indecon report recommended certain positions would give the board more expertise. Have those positions now been filled?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: Which positions require legislation?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: What sort of expertise?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: Perhaps the Department can comment. What other expertise does the Department believe should be added?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: What positions were filled in the past year? What positions has the organisation been able to fill?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: My next question relates to asset disposal. I realise the organisation has gone through some disposals already. Are there any other assets to be disposed of in the coming years that the organisation has not informed the committee of yet? Is there anything in the pipeline? Is that it for asset disposal at the moment?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: The Bord na gCon deputation made the point that in recent months the board has gone through a consultation period to try to get the grass roots involved. Has the organisation gone back to the people who have left the industry to ask them why they have left the industry?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Paul Connaughton: When going to Galway track, for instance, it is very apparent that there are two different kinds of people there. There are those very much into the dogs and the racing side of things, and there are those who are there for the night out. Are there two separate strategies or is it one for everybody?

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