Nama Could Have Raised Extra Cash For Taxpayers – Report

NAMA COULD HAVE RAISED EXTRA CASH FOR TAXPAYERS – REPORT A new report on the activity of NAMA says the agency could have raised an extra 18 billion euro for the tax payer. It’s claimed the agency failed to realise a better return because it sold off many assets too quickly. The research was found that 11 major sales to investment funds were then ‘flipped’ by the buyers with an average profit of 47 per cent. It says the taxpayer lost more than 300 million euro on those transactions alone. The study was conducted by economist Jim Power and Lisney estate agency and commissioned by the property developer David Daly.

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