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NAMA spends equivalent of 28,000 home help hours on recruitment – Doherty

10 October, 2012 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD says more than €500,000 spent by NAMA on the recruitment of staff since 2011 is an “outrageous waste”. Deputy Doherty received the information in response to a parliamentary question last night.

He said the wasted half a million euro would pay for the equivalent of 28,000 home help hours.

Deputy Doherty said:

“In a parliamentary response to me last night, it was revealed that NAMA spent €316,000 in 2011 and a further €197,000 this year to date on recruiting staff. So far this year NAMA has recruited 28 staff members – that works out at €7,035 per staff member. This is recruitment costs alone – it’s not salaries.

“This is an utter squander of public money at a time when allegedly every cent is being counted in government departments. It harks back to the early part of the last decade when waste was glossed over and over-spending was the norm. Here we have 460,000 people on the live register and NAMA is spending €500,000 on recruiting staff.

“To put it in perspective, that €500,000-plus, if redirected, could save 28,000 home help hours for some of the most vulnerable people in this state. The Fine Gael/Labour coalition is slashing €8 million-worth of home help hours, yet NAMA appears to be permitted to spend taxpayers’ money at will.

“The government and the management at NAMA have to answer why such waste is occurring with public money, public money which would be far better spent elsewhere.”


PQ and response are below:

NO 145

To ask the Minister for Finance if he will quantify the fees paid by the National Asset Management Agency for the recruitment of staff in 2011 and for the nine months ending 30 September 2012..
- Pearse Doherty.
* For WRITTEN answer on Tuesday, 9th October, 2012.
Ref No: 42679/12

Minister for Finance ( Mr Noonan) : I am advised that the National Treasury Management Agency (NTMA) has incurred recruitment costs in respect of employees assigned to the National Asset Management Agency (NAMA) of €316,000 during 2011 and €197,000 for the nine months ending 30 September. Such recruitment costs include fees paid to recruitment agencies, pre-employment medical tests and psychometric testing, and advertising. The NTMA and NAMA have sought to minimise recruitment costs through the direct advertisement of staff vacancies on their websites. Under Section 42 (4) of the National Asset Management Agency Act, NAMA is required to reimburse NTMA for the costs incurred including the recruitment and assignment of staff to NAMA.

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