asked the Minister for Industry and Commerce whether he will state (a) the precautions taken by the tourist board, when purchasing hotels and other property, to safeguard the taxpayers' interests; (b) whether a Government or other competent valuer was employed to value these properties, and, if not, on whose valuations the purchases were based; (c) whether the board gave commissions or other payment on foot of or arising out of these purchases, and (d) whether, in view of the serious losses incurred by the taxpayers as a result of these purchases, he will arrange for an exhaustive investigation to be made into the board's activities and issue a report thereon to the Dáil.
Ceisteanna—Questions. Oral Answers. - Tourist Board's Hotel Purchases.
The Irish Tourist Board, before purchasing property for hotel and resort development schemes, obtained approval in principle from the Minister for Industry and Commerce for the expenditure contemplated. When the Minister's approval was given, repayable advances to meet commitments were issued to the board under Section 16 of the Tourist Traffic Act, 1939, and the issue of these advances was covered by the certificates of the board that the expenditure to which the advances related was regarded as of a profit-earning character.
In cases where the powers of compulsory acquisition conferred on the Irish Tourist Board were exercised, an official arbitrator was engaged. In other cases, property valuations were made by a qualified valuer or qualified valuers, but I have been informed by the board that, in the case of some properties, the records do not show clearly that payments of valuers' fees directly related to the properties were made, and it is stated that in such cases it is assumed that their own assessment of valuation may have been acted upon.
Scale fees, where appropriate, were paid by the board to the auctioneers, valuers and legal agents concerned.
The Irish Tourist Board have advised me that the collection of complete details in relation to the purchase of these properties will involve the examination of a large number of papers and records, and I am giving instructions that this examination should be completed at the earliest possible date, so that I will be able to consider if an exhaustive investigation such as that suggested by the Deputy should be made.