Treasurer repays money on debt owed by some of the banks he has targeted

It’s hard to know whether a government-run investment fund run by an independent director would have fared as well.

In 2015, the government’s “Credibility Fund”, designed to protect the credit of the Government’s central bank, lent out €3.5bn to companies in the banking sector. But the value of the loan was about €18m when Mr Kenny announced that there would be no repayment.

The “Credibility Fund’s” chairman is no stranger to controversy. In December 2014, the auditor general’s office found that the investment fund paid out loans to nine companies – some for as little as €3,000 – at a total cost of €16m. Six of those companies were in the construction sector.

The chairman is Mr Kenny’s son, Pet바카라사이트er, a businessman and member of the PSNI. Last night there was speculation that he may be targeted over his son’s role in securing the bonds. Mr Kenny has not responded to requests for comment from the Irish Examiner.

In a rare move, the government’s financialjarvees.com watchdog, the Civil Service Ombudsman, found in March last year that €100m had gone unaccounted for and asked Mr Kenny to appear before it within five days, to examine the arrangements made by the fund.

His response was the result of the “credibility” inquiry’s findings and he has refused to make his son the chief auditor. The Government has refused to tell the Ombudsman where he stands on Mr Kenny’s role, and said it had nothing to do with his son being the chief auditor.

Last night it was reported that the minister for Finance has been told “that the only way you can pay off the trust fund in such an inadequate way is by a large tax cut” because there has been an understaffed audit.

Mr Kenny claims that there are around 13,000 people working in the fund, which employs around 2,500 people and pays out about €14.2m a year in bonds – an amount he is “shocked” by.

The finance minister has repeatedly denied his son “has a personal grudge” against him. In a recent interview, he said that the amount of criticism Mr Kenny received was 바카라사이트irrelevant, and had been made up by people saying his son had been given too much power by Mr Kenny over his political career.

In 2010, Mr Kenny was among 14 people named in a confidential