Results 341-360 of 1,106,225 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Ned O'Sullivan OR speaker:Ruairi Ó Murchú OR speaker:Seán Canney OR speaker:Dara Calleary OR speaker:Alan Farrell OR speaker:Thomas Byrne OR speaker:Michael McGrath OR speaker:Cathal Crowe OR speaker:Richard Boyd Barrett OR speaker:Brian Stanley OR speaker:Neasa Hourigan OR speaker:Eoin Ó Broin OR speaker:David Cullinane OR speaker:Charlie McConalogue OR speaker:Mattie McGrath OR speaker:Cian O'Callaghan OR speaker:Neale Richmond)
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I call the Comptroller and Auditor General, Mr. Seamus McCarthy, to deliver his opening statement.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: The first committee member to speak is Deputy Cormac Devlin, who has 15 minutes.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Would somebody from the Department explain? Perhaps Mr. O'Sullivan can confirm that? Certainly at least some of the funding was off-balance sheet.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Just to clarify, that is all capital expenditure, Mr. O'Sullivan.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Off-balance sheet changes things.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Take your time, Deputy. If we need to go over time by a few minutes that is okay.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: If it is useful at this point, the amount that came from ISIF is €1.25 billion. Is that correct?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: No, it is only that part of it. To clarify, it is only €1.25 billion. The LDA has to fund a plan with €6.25 billion. Is that correct?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There will be a second round and I will bring the Deputy back in.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I am conscious of people looking in here. There is a lot of back and forth. The Deputy has been trying to tease out the sources of funding and then what is and is not on the State balance sheet. In his opening statement, Mr. Coleman said, "We have already received funding commitments of €2.5 billion.", from Government and half of that is from ISIF. Is that correct?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: I am trying to keep it simple. Mr. Coleman said, in his opening statement, that the agency has received a commitment for €2.5 billion. One part of that is a commitment for €1.25 billion. Is that the ISIF money, "Yes" or "No"?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: From ISIF?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There is €2.5 billion from ISIF. On the next part then, did Mr. Coleman say that there is a further €1.25 billion from budget 2025?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: In budget 2025, there is €1.25 billion. Where do the AIB shares fit in there?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Is the AIB shares sum included in either that €1.25 billion from budget 2025 or the original €2.5 billion? Where is it contained?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: AIB, that is okay. Let us hope I can get to the bottom of this. Now the agency has €3.75 billion. Then Mr. Coleman stated, "the Government ... has signalled its intention to raise our total capitalisation to ... €6.25 billion ...". The agency is at €3.75 billion. The agency needs another €2.5 billion, including the provision to borrow €1.25 billion. Mr....
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: So the State will give a further subsidy of €1.25 billion? Is it non-repayable?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: There is €3.75 billion in the bag, and with this €2.5 billion needed now, the LDA will borrow half of that. The LDA will receive an investment from the State of €1.25 billion.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: Okay. That €1.25 billion will be off-balance sheet because the LDA will be borrowing from the markets.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Brian Stanley: On-balance sheet.