Noonan to review invitation to PAC

Noonan to review invitation to PAC

Finance Minister Michael Noonan is to review an invitation to the Dail’s Public Accounts Committee (PAC), his spokesman has said today writes Irish Examiner Political Editor Daniel McConnell.

The PAC is investigating the controversy around Nama’s sale of its €1.6bn Northern loan book and there have been calls for Mr Noonan to make himself available to the committee, despite it not being the norm for ministers to go before it.

But today, Mr Noonan’s spokesman said he is now to review the invitation before making a decision on whether he will attend.

“It is not normal practice for a Minister to appear before the PAC" and "the Department of Finance will co-operate fully with the PAC as the Department always does,” the spokesman said in a statement to the Irish Examiner.

PAC Chairman Sean Fleming said he was “hopeful” Mr Noonan would appear to discuss his role in the controversial sale which resulted in a major loss to the taxpayer, according to a special report published by the Comptroller and Auditor General (C&AG) last week.

Speaking on radio, Mr Fleming said he welcomed the decision to review the invitation.

The C&AG report found the sale incurred a potential loss to the taxpayer of £190m on the sale after previous write downs were included.

NAMA "categorically rejected" the key conclusions reached by the C&AG saying the key finding of the report is "fundamentally unsound and unstable and cannot be left unchallenged".

The Government last week confirmed the PAC would first examine the report into the affair, beginning on 29 September, before a formal inquiry is launched.


More in this Section

Rescue mission underway for five fishermen off coast of DonegalRescue mission underway for five fishermen off coast of Donegal

Man arrested as police investigate Belfast stabbingMan arrested as police investigate Belfast stabbing

Two arrested as rival protesters come face to face at #Rally4PeaceTwo arrested as rival protesters come face to face at #Rally4Peace

Gardaí investigate after human skull found in KerryGardaí investigate after human skull found in Kerry


Lifestyle

Want to be cultured this Christmas? From TV to podcasts to books, Ed Power has the definite list of everything you missed this year - so you can curl up on the couch and catch upThe definite list of everything you missed this year

Artist Ciara Rodgers teaches older people how to rediscover their creativity and regain confidence, says Rowena WalshBrush with art: Discovering your creative side in later life

Furniture, paintings, jewellery and silver are on offer at James Adam in Dublin, writes Des O’SullivanAll set for home run: See what's on offer at the James Adam sale in Dublin

It’s not too late to hunt out a unique gift. Des O’Sullivan previews sales in the lead-up to the festive seasonA flurry of auctions in Munster sets the scene for Christmas

More From The Irish Examiner