Results 441-460 of 1,109,716 for in 'Dáil debates' OR (speaker:Chris Andrews OR speaker:Denis Naughten OR speaker:Kieran O'Donnell OR speaker:Norma Foley OR speaker:Ivana Bacik OR speaker:Aindrias Moynihan OR speaker:Michael Ring OR speaker:Steven Matthews OR speaker:Cian O'Callaghan OR speaker:Leo Varadkar OR speaker:Cormac Devlin OR speaker:James Lawless OR speaker:Joe O'Brien OR speaker:Michael Creed OR speaker:Cathal Crowe OR speaker:Peadar Tóibín OR speaker:Mairead Farrell OR speaker:Brian Stanley OR speaker:Chris Andrews8 OR speaker:Seán Ó Fearghaíl OR speaker:Patrick Costello OR speaker:Mick Barry OR speaker:Denise Mitchell OR speaker:Johnny Mythen OR speaker:Alan Dillon OR speaker:James Browne OR speaker:Joe Flaherty OR speaker:Gary Gannon) in 'Committee meetings'
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I know that. It is my first time at this committee. It is my understanding the LDA's borrowing is potentially off-balance sheet too. Can full clarification on that be brought back to the committee? Is that easiest?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Definitely, 100%.
- 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)
Mairead Farrell: Yes, and then the €1.25 billion is from the AIB shares sale-----
- 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)
Mairead Farrell: The €5.7 billion. On the issue of the €1.25 billion, will that be off-balance sheet as well?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Is it correct that all is considered off-balance sheet? That is €2.5 billion. Will the €1.25 billion Mr. Coleman mentioned be off-balance sheet as well?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: No. Obviously there is the amount that can be borrowed but we are not at that point at present. We are talking about the €2.5 billion and then, was it not, an extra €1.25 billion that the Department had mentioned that it could get down the line? Would that be off-balance sheet?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Perfect. I thank Mr. O'Sullivan.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: My understanding is that the borrowing is something that the Department is looking at potentially next year or maybe in the future, but we are not looking at something concrete right now. Is everything we are talking about right now off-balance sheet?
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: That is what I was trying to get at. I thank Mr. O'Sullivan. I was trying to get clarity on that. Are there any concerns about the fact that at present that is all coming from State funding, State subsidies, grants or whatever we want to call it, and that it is not turning a profit? Dividends have not been paid back or whatever.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: But it is not absolutely definite.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I am sorry about that now. I just was trying to get-----
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Of course.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: And profit..
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Surely profit as well.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: No. My question is more that it seems it is totally reliant now on State subsidies and State investment and that there is not that kind of commercial aspect, whether it be borrowing or profits being reinvested, and that it is solely done on a State investment.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: Fully, yes.
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: I totally get that is what it says on the tin but the point that I am trying to make is that they would not be commercially viable without the State subsidies, which are significant. For example, last year the agency said that €5.7 billion was needed in capitalisation. At this moment in time all the capitalisation is coming either from the ISIF or the AIB shares sale. When the LDA...
- Public Accounts Committee: Financial Statements 2023: Land Development Agency (10 Oct 2024)
Mairead Farrell: It is operating at a loss.