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SINCE THE INCEPTION of the National Assests Management Agency (NAMA) more than €143 million has been paid out to consultants and advisers.
The Minister for Finance Michael Noonan gave a breakdown of what had been paid out since 2009.
Legal fees
Legal fees for the first half of 2013 amounted to €612,000. Last year, legal fees cost NAMA over €4,634,000. In 2011, NAMA paid out over €9 million, while in 2010 they paid over €3 million.
Finance and technology fees cost over €1.2 million for the first half of 2013. Last year, NAMA paid out over €3 million, while in 2011 they paid €2.2 million and in 2010 fees cost €5.7 million.
The full breakdown can be seen below:
Noonan added that the expenditure costs do include one once off costs incurred in connection with the establishment of NAMA, due diligence connected with the acquisition of loans from the participating institutions and the initial review of debtor business plans.
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It’s amazing the money that is been thrashed about at the expense of the tax payer ,small business are being hounded for sums of money in the €500 range and are having their tax clearance held up until its paid while the charities are dipping into the poor box to pay for government implants ,the sick the old are having cuts made ,it’s ludicrous but now that the people know that it certainly was the government and banks that caused this mayhem with their lack of knowledge of what they were at at ,maybe there will be a lash back of some sort Disgusted
All abord the Gravy Train, Choo, Choo!!
@Ronan.. On the Golden Circle Line only !
You pay people to do a job and what do they do ? They employ someone else to do it and you become a Supervisor !!
As usual the nests are being well feathered.
I wonder how much of this money went to friends of the Galway tent?
“NAMA paid out over €143m in consultant fees since 2009″???
To who??
To the big 4 Accountancy firms that gave the banks a clean bill of health when they were bust??
What is most infuriating is that we always hear about this stuff long after the horse has bolted. This may sound incredibly naive I know, but these agencies should have fixed yearly budgets with a requirement to go publicly before an Oireachteas committee if they want one cent more.
- Like sharks ripping & tearing at the carcass of what was once a proud country…
Exactly Moccy, FF threw this country off a cliff and FG/Lab rifled to pockets of the corpse.
How does one get one’s snout into these troughs.
The private sector planet on which I exist boasts of no such troughs. Just a regular days pay for a hard days work and that’s only if you’re lucky!
The public service needs to start up skilling its staff and stop this consultancy gravy train.
Agreed – whatever about paying for a consultant as a once off … €143 million spent outsourcing seems crazy … Either you can do the job or you can’t … Would be cheaper to just hire the consultants to head up NAMA
It wouldcost more to upskill because you would be dealing with intransigent and very greedy public sector unions.
so developers have branched out to the role of consultants….good to see the govt are looking after those who destroyed the economy.
The wheelbarrows of the developers are being used for a different reason now !
Banama republic.
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