Drug costs and Nama sales to be investigated by PAC

Losses to taxpayers from the high cost of pharmaceutical drugs, and Nama’s Northern loan book sale, are among the issues that will be investigated by the Dáil Public Accounts Committee (PAC).

Chairman Sean Fleming also wants to propose fresh legislation which would compel senior civil servants to appear over spending issues, even if they are retired.

In an interview with the Irish Examiner, the Fianna Fáil TD set out some of his ambitions for the committee.

It has already agreed to probe the suicide bereavement counselling charity Console, and separate claims of top up payments made to staff with St John of God.

Mr Fleming also wants the exorbitant prices of drugs investigated.

“It’s an issue for taxpayers,” he said. “The cost of drugs affects everyone. Everybody knows when you’re on holidays, you’re picking up items for a fraction of the price, and why is that?

“The State pays about €2bn [for medicines]. I’m concerned sometimes we don’t always negotiate the best price as there are so many pharmaceutical companies in Ireland.”

Allegations of fixers’ fees over Nama’s Northern loan book sale will also be investigated by PAC.

“Nama have made a surplus of €3bn or €4bn here on properties, but a massive loss on their loan book on Northern Ireland, which is totally out of sync with everything else they’ve done here. There’s a very big question that the Irish taxpayer lost more on that than any other book. There must be a reason why.”

The Comptroller and Auditor General is finishing a report on Nama’s ‘Project Eagle’, which the committee will use to lead its probe the Northern deals.

Elsewhere, Mr Fleming wants to hold senior civil servants accountable for public spending.

“Somewhere we will recommend that an accounting officer would be obliged to come back and answer questions, even after a period, even if they’re not in the same job,” he said. “Or if they’re retired.”

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