21 Nov 2012, 15:56
The Committee of Public Accounts will tomorrow, Thursday, 22nd November 2012 meet with John Corrigan, Chief Executive, National Treasury Management Agency and Paul Carty, Chairperson, National Pension Reserve Fund Commission to discuss the accounts and financial statements of both organisations.
Chairman of the Committee John McGuinness, TD, said: “The Department of Finance has overall responsibility for fiscal and monetary policy while the National Treasury Management Agency manages the national debt on a day to day basis. The continuing increases in both the general government debt (GGDebt) and the gross national debt and their management will clearly be of concern to the Committee, particularly the €3.85 billion overstatement to the GGDebt as well as Ireland’s re-entry to the debt markets. Also of interest are the NTMA’s salaries, new NTMA products available and Ireland’s credit rating and bond yields.
“The changes in the value of the National Pension Reserve Fund in 2011 as well as how the fund has been used to invest in the banking sector are key issues. The payments to State Street Bank Europe Ltd are also examined in the Comptroller and Auditor General’s report and measures taken by the NTMA to investigate similar transactions and prevent future reoccurrences are key issues for the Committee’s examination.”
This meeting starts at 10am on Thursday, 22nd November in Committee Room 1, LH 2000.
Committee proceedings can be followed live at: http://bit.ly/24YmPI
Ends
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee of Public Accounts
Membership
John McGuinness (Chairman)
Kieran O’Donnell (Vice Chairman)
Paul J Connaughton,
John Deasy,
Paschal Donohoe,
Gerald Nash,
Simon Harris,
Michael McCarthy,
Mary Lou McDonald,
Sean Fleming,
Eoghan Murphy,
Derek Nolan,
Shane Ross