Results 281-300 of 6,598 for speaker:Verona Murphy

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I apologise for interrupting but my time is limited. It is an ongoing challenge but how does the Department propose to deal with it?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I accept that Mr. Watt said the Department does not know what to do about it. However, what form did the review take?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Is there any model anywhere that looks better?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I will put my question to Mr. Pender. From the perspective of actuarially assessing it, the sum of €94 million appears to be a big gap.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: It was 2013 so it is almost ten years old.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Okay. There does not appear to be an answer to it.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: According to the figures I have, it was underestimated by €94 million.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Yes, €92.5 million were due.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: The Exchequer picks up the tab because it was not paid by the employers. Is that correct?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: It appears that the Exchequer has picked up the tab for certain agencies.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: That relates to those bodies.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I have a quick question for Mr. Watt. I understand we are discussing the accounts, but Mr. Watt referred to Covid and all the other implications. I wonder about our debt and deficit sustainability. There are estimates of €20 billion for this year and next year, which will drive up the national debt to more than €250 billion. The GNI has obviously gone up through the roof....

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Do we have a debt ceiling? I am running out of time.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Given that we expect an €11 billion deficit to occur as a result of this lockdown, I am very concerned.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I am talking about the loss from the small and medium enterprises, SMEs.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: To go back to pensions, given that there does not appear to be a strategy to cope with the measure, could Mr. Watt put something together, including a timeframe, for dealing with this? Could it be presented to this committee in the coming weeks?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Yes.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Mr. Watt does not need to answer. Could he just commit to it?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: Mr. Watt must have one he is looking at. If he presents that, we can look at it.

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of Minister for Public Expenditure and Reform
Vote 12 – Superannuation and Retired Allowances
Chapter 3 - Vote Accounting and Budget Management
Chapter 4 - Accounting for Capital Assets
Chapter 5 - Accounting for Allied Services (22 Oct 2020)

Verona Murphy: I am very concerned about a point I raised with Mr. Watt already. If the Central Bank is saying we have a deficit of €11 billion as part of this surge, is that accounted for in the €20 billion we expect to borrow next year? With regard to our banks and capitalisation, is there any risk based on the Covid scenario, or has this been examined? If there is a risk, what is the...