Pat Breen
Ceist:100 Deputy Pat Breen asked the Minister for Finance his views on whether the secrecy surrounding the pay levels of senior executives connected to the National Treasury Management Agency is justified. [11562/10]
Amharc ar fhreagraWednesday, 10 March 2010
Ceisteanna (70, 71)
Freagraí scríofa
According to the National Treasury Management Agency's most recent Annual Report, total salaries and bonuses in the Agency amounted to €19.9 million in 2008. The remuneration packages of all Agency staff are negotiated on an individual contract basis and are confidential. There are no proposals to amend the current arrangements at this stage.
Bernard J. Durkan
Ceist:101 Deputy Bernard J. Durkan asked the Minister for Finance the extent to which the proposals and provisions set out in the context of the National Asset Management Agency have been achieved in accordance with projections; if he is satisfied that original projections in this regard are realisable; if the taxpayers’ interests are adequately protected and safeguarded having regard to developments to date; and if he will make a statement on the matter. [11666/10]
Amharc ar fhreagraThe NAMA legislation provides for an annual statement to be produced by NAMA and for NAMA to submit quarterly reports, which I will make available to the Oireachtas. The first of these quarterly reports is in respect of the quarter ended 31 March 2010 and is due to be submitted to me on or before 30 June 2010. The draft Business Plan, published by the interim NAMA in October 2009, sets out certain targets and projections for NAMA. The publication of a business plan is a matter for the Board of NAMA which was appointed in December 2009.
I am aware that the Board proposes to review the Business Plan in the light of the extensive due diligence process currently under way and that any update to the Plan will be informed by information gleaned during that process and by the valuation of loans being transferred over the coming months. I am advised by NAMA that the NAMA Board proposes to publish a revised Business Plan by the 30th June 2010.