Parliamentary banking inquiry work to begin soon

The setting up of a parliamentary banking inquiry is gathering pace, with Oireachtas sources suggesting that its work will begin before the Dáil summer recess.

The Irish Examiner has seen details of a meeting of the Houses of the Oireachtas Commission where officials discussed the resourcing and staff needed for the promised probe.

The body, which runs Leinster House, has agreed to assign 48 staff to the committee of inquiry.

However, minutes from its latest meeting, only just released, show that there are concerns about whether Leinster House has sufficient funds to run the inquiry and keep ordinary business going.

Staff numbers have been reduced by 11% since 2009, it said, in line with the recruitment moratorium.

It was added: “However, it was noted the existing staffing levels are no longer sustainable. The drivers of growth include reform measures introduced by the Houses in 2013 and the anticipated Committee of Inquiry and the level of growth now requires a marginal increase in core numbers to enable demands to be met.”

The commission has approved extra resources for “an allocation of 48 posts to be assigned for drawdown as the Committee of Inquiry progresses (this cohort to be ring-fenced for the duration of the inquiry and related work required post-inquiry)”.

Following the conclusion of the Anglo trial, the focus among some in Leinster House has turned to getting the long-awaited parliamentary probe into the financial crash underway. Preparations until now were stalled partially due to concern they could affect the trial.

The first step will be establishing the framework and structure of the inquiry.

This requires agreement from the Houses of the Oireachtas as well as a decision on what committee and what members will lead the investigation.

Oireachtas finance committee chairman Ciarán Lynch, tipped to lead the inquiry, outlined what needed to be done.

“There are three critical elements. The terms of reference need to be clear and specific and clear so we see no drift, like in the tribunals, and it needs to be adequately resourced. The questioning of witnesses should also be in public session,” said the Labour party Cork South Central TD.

Oireachtas sources are confident the architecture of the inquiry will be ready by June and that it will begin its scoping work by July.