Dáil Éireann Debate, Tuesday - 18 September 2012
212. Deputy Dara Calleary asked the Minister for Finance the estimated cost of each quango in his Department; the amount expected to be saved from the mergers of quangos in his Department; the basis for this figure; and if he will make a statement on the matter. [37261/12]
Amharc ar fhreagraThe information requested by the Deputy is as follows.
The National Treasury Management Agency (NTMA) was established in 1990 with a commercial remit outside the civil service structure. It has a range of functions providing asset and liability management services to Government. These include borrowing for the Exchequer and management of the National Debt, the State Claims Agency, the New Economy and Recovery Authority (NewERA), the National Pensions Reserve Fund (NPRF), the National Development Finance Agency (NDFA), and the National Asset Management Agency (NAMA).
The NTMA reports directly to the Minister for Finance in the performance of its funding and debt management, State Claims Agency and NewERA functions. Each of the National Pensions Reserve Fund, the National Development Finance Agency and the National Asset Management Agency has its own board. The NTMA has an Advisory Committee to assist and advise on such matters as are referred to the Committee by the NTMA. The NTMA acts as the executive in respect of the NPRF and the NDFA. In the case of NAMA it assigns staff to NAMA and also provides it with business and support services and systems. NAMA reimburses the NTMA for the cost of these staff and services from its operations.
The NTMA’s net costs in 2011 were €41.2m. Of this €3.7m related to its functions in respect of the NPRF and €5.9m to its functions in respect of the NDFA. NAMA’s total administration expenses in 2011 were €128.4m, including fees of €57m paid to participating institutions for the servicing of NAMA loans. These costs are met from NAMA’s operations. The fees and expenses incurred in the operation of the NPRF in 2011 (other than the costs incurred by the NTMA set out above) were €17.2m. These costs are met from the National Pensions Reserve Fund. The administrative expenses incurred in the operation of the NDFA in 2011 (other that the costs incurred by the NTMA set out above) were €0.081m. These costs are met from the Central Fund.
The Credit Union Advisory Committee (CUAC) is a statutory committee established under Section 180 of the Credit Union Act 1997 to advise the Minister for Finance on matters relating to credit unions. The work of this Committee is ongoing in nature and the Committee is to remain in place. The cost of the CUAC in 2011 was €23,356 and the estimate of expenditure for 2012 is €18,000.
The Credit Union Restructuring Board (ReBo) was established on an administrative basis on 31st August 2012 pending the enactment of the Credit Union Bill 2012, when it will become a Statutory Body. Its work is to facilitate and support the restructuring of credit unions and it is to remain in place until 31 December 2015. The ReBo is to hold its first meeting on 28th September 2012. After that it will be in a position to formulate its work plan and outline its proposed cost. The Rebo will be funded jointly by the State and the Credit Union Sector.
Disabled Drivers Medical Board of Appeal: the Revised Estimates provision for 2012 is €330,000 and there are no plans to merge this body.
Irish Fiscal Advisory Council, set up in July 2011: 2011 outturn - €222,000, 2012 allocation - €650,000.
