Banking inquiry has cost €4.9m up to end of September

The cost of the Oireachtas banking inquiry averaged €103,000 per day for the 14 days that it sat between July 1st and the end of September.

Figures released by the Oireachtas Commission, in response to a Freedom of Information request, show the cost of the banking inquiry increased by €1.4 million during that period. The costs of the inquiry to the end of September totalled €4.9 million. The largest proportion of pay went on banking inquiry investigator pay, totalling €642,856.

The inquiry has since its inception incurred €222,000 in legal support and new figures show one lawyer retained by the inquiry, Charles Meenan SC, earned €25,988 for seven days work in June and July. Over the seven days on which Mr Meenan attended hearingsthe lawyer worked a total of 107 hours. For one 18-hour day alone he received €4,372.