Peadar Tóibín (Meath West, Aontú)
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52. To ask the Taoiseach the controls in place to ensure that the commission of investigation into the Irish Bank Resolution Corporation will achieve its objective in a timely and cost-effective manner. [14716/20]

Micheál Martin (Cork South Central, Fianna Fail)
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The IBRC Commission is fully independent and it is solely a matter for the Commission to carry out its investigation in a timely and cost effective manner. Neither I or my Department have any input or role in the operations of the Commission.

The IBRC Commission was established in June 2015 by a Government Order which was approved in draft by the Dail and Seanad, with terms of reference set following consultations with Opposition representatives. Judge Brian Cregan is the Commission’s Sole Member.

As required under the Commissions of Investigation Act 2004, at the time of the Commission’s establishment my Department published in Iris Oifigiúil a Statement of Costs and Timeframe in relation to the Commission. The Statement of Costs and Timeframe indicated that it was expected the Commission would report by the end of 2015, subject to section 6 (6) of the Act, and that the estimated salary costs, legal fees and administrative costs for the Commission in 2015 was €4 million.

The Statement of Costs and Timeframe also made it clear that third party costs might arise and that guidelines concerning third party costs would be prepared. In this regard the Commission’s Legal Costs Guidelines were subsequently agreed and have also been published.

Since the Commission was established, Judge Cregan has requested multiple extensions to its deadline for reporting on the Siteserv transaction in the Interim Reports he has provided my predecessors as Taoiseach under section 33 (3) of the Act.

On each of these occasions, consultations took place between my predecessors and Opposition representatives to discuss the issues arising in the Commission’s Interim Reports, including the request for extensions by the Commission and the estimated increase in costs, before such extensions were granted.

Most recently, in February 2020 Judge Cregan requested a further extension of the Commission’s deadline for reporting in relation to the Siteserv transaction until the end of 2020. In view of the pressures arising in relation to Covid-19 and talks on the formation of a new Government, the Commission’s timeframe for reporting was extended until end-June and then end-September 2020 pending consultation with Oireachtas representatives, which I hope to arrange shortly.

From the date of its establishment to 8th July 2020, the IBRC Commission spent a total of €7,990,162, excluding third party legal costs that have been incurred but not yet paid. The Commission has estimated that the final cost of the completion of the first module of its investigation, will be from €11 - €14 million. However, this estimate assumes the investigation is completed in accordance with the timetable stated by the Commission and excludes costs or delays associated with judicial review hearings. The Commission also acknowledges that it involves a substantial degree of uncertainty regarding the amount of costs actually recoverable by parties before the Commission, and it assumes the Commission’s Legal Costs Guidelines are not successfully challenged. My Department has given its view on many occasions, including in briefings with Oireachtas representatives, that the final cost is likely to significantly exceed the Commission’s estimate, and could exceed €30m.