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Banking Inquiry has cost €3.8m so far

Banking inquiry chairman Ciarán Lynch
Banking inquiry chairman Ciarán Lynch

The Committee of Inquiry into the Banking Crisis has said its running costs to date totalled €3.876m.

In its quarterly update on activity and expenditure, the inquiry said that staffing accounted for €3.147m of that, while external services came to €382,000.

Its public hearings cost €296,000, while expenses for its witnesses amounted to €11,000. 

Another €222,000 was spent on legal supports, with €40,000 going on 'miscellaneous'  expenses.

The Context phase of the inquiry started in December 2014, with the phase finishing in April 2015. It saw 31 public hearing sessions over 17 days and heard from 34 witnesses. 


 

The Nexus phase started in December 2014 and continues up to January 2016.

The inquiry has received over 42,000 documents and held 80 public hearing sessions over 32 days. 97 witnesses were called to public hearings, while 42 written statements were also received.

A total of 287 hours of committee sittings were held.

Today's report also says that the committee had a total of seven staff when it held its first meeting in June. This rose to 19 in November when the inquiry was formally established and by June 2015 it had a full complement of 51 staff.

Since the end of September, this has been reduced to 45 staff. 

Committee chairman Ciarán Lynch said it is now engaged on the final phase of its work programme which will lead to its final report. 

He said this involves final analysis and review of evidence, obtaining clarification of material evidence from witnesses, and compilation of books of core documents for publication with the final report.