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Dáil misled on IBRC scandal – Adams

29 April, 2015 - by Gerry Adams TD


Sinn Féin Leader Gerry Adams TD has said the Dáil was misled in relation to the IBRC scandal. 

Mr Adams said that a statement made Minister for Finance Michael Noonan to the Dáil in 2013 on the wind up of IBRC was at odds with deep concerns within his Department.

 He also said Michael Noonan’s statement at the time did not square with the facts which have now emerged.

 Raising the issue with Taoiseach Enda Kenny in the Dáil this morning, Teachta Adams said:

 “Taoiseach, yesterday I asked you when did Minister Noonan inform you about his Department's deep concerns over the sale of Siteserv and other IBRC deals. While you did not answer the question directly, you gave the impression that the Minister did not brief you on these issues.

 “How could that be when this involved hundreds of millions of euro of taxpayers' money and when officials raised repeated and very serious concerns with the Minister and when they sought an independent review?

 “In 2013 the Minister was winding up IBRC sooner than was expected. Clearly this was a big issue. Were you not briefed on this?

 “The Minister knew it had cost hundreds of millions of tax-payers money and hundreds of millions in gains for insiders. So, what did he tell you?

 “Speaking here on 6th February 2013, on the Irish Bank Resolution Bill, Minister Noonan said, and I quote: ‘I wish to acknowledge, with much appreciation, the significant efforts the directors and staff of the IBRC have made to the stabilisation of and maintenance of value in the IBRC’.

 “This statement is at odds with the deep concerns within his Department. How does this statement square with the facts we now know regarding the concerns expressed within the Department of Finance?

 “Taoiseach, the Government is supposed to protect the interest of the taxpayers, yet you said yesterday in your reply to me, that Minister Noonan did not deal with each of the 30 or so transactions of over €10 million, which are now part of your review.

 “If this is so, is it acceptable to you given that Department of Finance of Officials had expressed such serious concerns regarding these transactions? Does this not highlight the incompetence of your Government?”

 The Sinn Fein Leader said that, for three years, the serious concerns at the Department of Finance were kept from the Dáil and from citizens:

 “This is despite a large amount of questions from Opposition TDs including Pearse Doherty, who was stonewalled by Minister Noonan. Why in his answers to Pearse Doherty did the Minister not disclose about what was going on? Why did he withhold information from the Dáil?

 “The Dáil has essentially been misled on this issue and there was in effect a cover up of the facts. This strategy began to fall apart when Freedom of Information replies were released to Catherine Murphy.

 “Taoiseach, why did the Minister for Finance obstruct the holding of an independent review as demanded by officials at his Department?  And do you agree that the Dáil has been misled on this IBRC scandal?

“Why are asset acquisitions by NAMA from IBRC specifically excluded from the review you have set up. How do you square this with your much vaunted commitment to ‘openness’, ‘transparency’ and ‘a new way of doing politics’?” 

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