Oireachtas Joint and Select Committees
Wednesday, 6 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Cormac McCarthy:
So typically in the 1980s and 90s it was two times gross income or, two times the principal earner and one times the secondary earner. What that didn't take account of particularly was the improvement in personal take-home pays as tax rates fell. So the industry as a whole switched to a debt service ratio, which was a net disposal income.
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