IBRC investigation timetable
John Deasy seeks a public financial assessment before legislation concerning IBRC transactions, given the potentially lengthy investigation. The Taoiseach agrees the concerns are valid and will consider written responses before Tuesday.
The issue I raise relates to proposed or possible legislation to deal with transactions related to IBRC. If it is the case that the current commission of investigation into the dealings of IBRC may take several years to complete - as the Taoiseach indicated, some estimates suggest it could take eight years to complete - a revised financial appraisal and assessment needs to be done and made public before any decision is made about proceeding with legislation.
Comment on this
I believe this matter falls within Standing Orders.
Comment on this
When the High Court judge heading the commission of investigation refers to a potential waste of taxpayers' money, the first step should be to conduct such an analysis and circulate the outcome to everyone involved. The Committee of Public Accounts discussed this issue last week and took the view that the commission of investigation should not be open-ended. That is the first step in respect of the IBRC investigation and any changes that are agreed.
Comment on this
I take Deputy Deasy's point, which is valid. As I stated, we will take the written responses from the parties and the Government will consider the matter and try to respond in the best and most effective way possible on Tuesday, taking all these things into account given the remit of and problems identified by Mr. Justice Cregan.