Thomas P. Broughan
Question:20. Deputy Thomas P. Broughan asked the Taoiseach when the report on the first module of the commission of investigation into the Irish Bank Resolution Corporation will be published. [51496/18]
View answerWednesday, 19 December 2018
Questions (20, 88)
Brendan Howlin
Question:88. Deputy Brendan Howlin asked the Taoiseach the status of the commission of investigation into IBRC; and the projected costs in this regard. [53039/18]
View answerWritten answers
I propose to take Questions Nos. 20 and 88 together.
On 23 November 2018, the Commission submitted its Fifth Interim Report to me and requested a further extension of its deadline for reporting until the end of March 2020.
On 5 December 2018, I met with representatives of the Opposition parties in relation to the Commission's request. There was a strong shared concern by all parties in the Oireachtas about the level of progress achieved by the Commission to date, the timeframe now proposed for concluding the first module of the Commission’s work, and the risks of further delays and cost escalations.
As agreed at that meeting, I propose to request a Report from the Commission under Section 33 of the Commissions of Investigation Act before agreeing to the extended timeframe sought. I wrote to the leaders of the Opposition parties about this proposal and will take account of their views before responding formally to the Commission.
From the time of its establishment to the end of November this year the Commission spent €4.8 million on direct costs, including salaries, administration, overheads and its own legal counsel.
The Commission has not provided any estimate of the third party legal costs incurred to date but they are likely to be substantial and it would be prudent to assume the final cost of the Commission will exceed €30 million.
Questions Nos. 21 to 25, inclusive, resubmitted.