Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John McCarthy:

I can't answer definitively because I wouldn't have been as close to the political space as I am now. But I will give you my suspicion and I think it's probably a combination of both. I think you had these other processes at play but also you had massive surges in tax revenue in the second half of the year which, typically, when corporate taxes come in and so forth ... which some would see ... if you get the tax revenue coming in, maybe you can spend a bit more and so forth.

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