Oireachtas Joint and Select Committees
Thursday, 18 December 2014
Committee of Inquiry into the Banking Crisis
Context Phase
4:20 am
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
Interest relief on borrowings was allowed against rental income. That was basically disallowed for the years 1998, 1999, 2000 and 2001. Then in the 2002 budget and the Finance Act 2002, it was reintroduced at 100%. That obviously fuelled a further bubble, and it just so happened to coincide with an election year. Did you get the opportunity to look at what exactly filled that wedge? That is just one element that stands out.
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