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NAMA advisors ran up €23k hotel and travel bill

THE NAMA advisory board met Finance Minister Michael Noonan just four times last year – but the group cost around €23,000 in hotel and other expenses.

Mr Noonan told the Dail that he has met the advisory board once so far this year.

Sinn Fein's Pearse Doherty TD had asked the Minister about the budgeted and actual cost of the National Asset Management Agency advisory board in its first year of operation.

Mr Noonan said his Department had budgeted costs in the region of €40,000 to cover the advisory board's hotel, travel and subsistence.

"The actual cost of the group in the period was approximately €23,000," Mr Noonan said. "As previously advised, the members of the group operate on a pro bono basis."

"I met the group on four occasions in 2012 and once to date in 2013," the Minister said. "It is open to the Chair to contact me as issues arise.



"The group's advice to me primarily relates to the strategy of NAMA as proposed by the board of NAMA; the remuneration of the senior executives of NAMA and any further advice that I may seek on any matters relating to NAMA," he told Mr Doherty.

"Any issues raised are discussed with senior officials within my Department," he said.

"The advisory group plays a valuable role and I am satisfied it is working effectively, with the progress to date."

However, it was important to note that it was not a shadow board, the Minister added.