Banking inquiry costs an average of €50k per day

The cost of the Oireachtas banking inquiry has soared to €3.5m, new figures show.

A progress report released by the inquiry shows the cost increased by €1.3m in the last quarter.

The spend between April 1 and June 30 works out at more than €76,000 per week or €48,370 for each of the 27 days the inquiry sat in public during the three months.