Catherine Murphy (Kildare North, Social Democrats)
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78. To ask the Minister for Finance if he will reaffirm his commitment given to the Committee of Public Accounts on 6 October 2016 (details supplied) to establish a statutory commission of investigation into NAMA's sale of Project Eagle, in view of the fact that the committee's report into the sale of Project Eagle is due to be published within the next few weeks; and if he will make a statement on the matter. [10030/17]

Michael Noonan (Limerick City, Fine Gael)
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My position is unchanged regarding the establishment of a Commission of Investigation into Project Eagle.

If the Deputy is unsure of the Government position, I believe I clarified the stance on public record in the Dáil during Statements on the Establishment of a Commission of Investigation into NAMA on 1st February 2017.

During those Statements, I reiterated that we have confirmed that there is currently an agreement, in principle, to establish a Commission of Investigation.  However, it is important that we receive the Report of the Public Accounts Committee on Project Eagle and consider any further information this Report may bring to light, the findings it presents and the evidence substantiating such findings, before the issue is finalised.

This Government and many Deputies, including the PAC Chairman, are aligned in the understanding that the imminent PAC report will be invaluable in assessing our next steps. We should consider and debate the contents and findings carefully before establishing the terms of reference for any such Commission of Investigation. There may well be questions currently being suggested for a Commission of Investigation which will be adequately covered off by the PAC report. There may also be findings supported by evidence which warrant further investigation.

It is sensible that the Oireacthas will fully study and debate the PAC report when it arrives. The agreement in principle to establish a Commission of Investigation remains. However, we should not establish Commissions of Investigation lightly and must ensure that any Commission of Investigation has specific terms of reference supported by evidence to justify its establishment.  Commissions are expensive and time-consuming but serve an important purpose when other avenues of justice are not appropriate and when they are properly established on the basis of evidence to support their terms of reference.