Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

Because we didn't think that we'd have that building in 2006. This is the point I am making in my comment to you earlier, Deputy. We thought, as a result of the taxation, the increase in interest rates and the two very significant pressures of exchange rates and oil prices, that there would be a dampening demand in 2006. We also had a forward indicator in relation to house building, registrations-----

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