Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
Okay, can I ... can I just clarify, Mr. Considine, the role of the advice from the Department of Finance in setting the actual quantum of expenditure? And if we take the example that you went into some detail on, 2006 ... in the February 2005 paper, the draft framework for developing the budget strategy memo '06 to '08, that basically set out an expenditure growth in 2006 of 6.6%. Then by June there was a budget strategy memo, which was based on the Department's advice and was accepted by the Minister, and that pencilled in growth of about 7.5%. And then in the ... in the budget, the increase was closer to 11%. So, okay, in February the Department recommended 6.6%; in June the Department was satisfied with 7.5%; but can you advise between June and the first week of December when all of this horse-trading is going on between Ministers and Department officials, what role did the Department of Finance play in October, in November prior to the budget? Did the Department of Finance say, "We reiterate our position that the growth in expenditure should be no more than 6 or 7%.''?
No comments