The Chairman of the Public Accounts Committee has said a situation can not exist where a public service conceals relevant figures from its Government.

John McGuiness was referring to a series of emails sent by a Department of Finance official between 2005 and 2007, warning about the risk of a property crash.

Mr McGuinness said it was obvious that a review was needed into what happened.

He said the Dáil had clearly been misled in relation to the answers given to a number of questions.

He added that a report from the Committee is due to be given to Government on this issue shortly.