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Labour Blog

Gilmore challenges Cowen on mounting costs of NAMA

Posted on July 06, 2010 at 09:32 PM

This afternoon the Labour Leader Eamon Gilmore TD challenged Cowen on the mounting costs of NAMA during Leaders' Questions in the House.

"Can the Taoiseach explain to us why the original business plan for NAMA that was presented to the House has turned into a bit of a financial fairy tale.

"Will the Taoiseach confirm that when the Minister for Finance came before us and asked us to approve NAMA, that he did so on the basis of projections which now turn out not to be accurate?

Eamon continued to press the Taoiseach on NAMA and concluded asking if the Taoiseach expects NAMA, given the reports, will make a profit.

The video shows Eamon's contribution to the debate while the full exchange is available on the Oireachtas website. You can also read our Finance Spokesperson Joan Burton TD's speech made to the Dáil yesterday evening on NAMA.

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