Oireachtas Joint and Select Committees

Thursday, 17 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

I have that. I thank the witness.

My second point relates to the discount rate, the position in respect of which I will not rehearse. Mr. Mulcahy stated that the Comptroller and Auditor General was wrong. I had this conversation with other board members and representatives from the Department of Finance. Just so we are all clear, in his report the Comptroller and Auditor General does not question the 10% discount rate being applied to Project Eagle in the context of it being a loan set. He does not have a difficulty with that and he has clarified the point. That is not the point of contention. Was Mr. Mulcahy aware of that and does he accept it?

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