Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John McCarthy:

Well, I mean, what we're doing, and what the economic division is doing, and what we've been very proactive is ... is engaging much more with the outside economics community. I have encouraged my team to publish a lot more of the technical work. So we have technical papers, we have working papers - they're all online. You can see some of the views that we have. Let me give you a specific example: we recently, somewhat controversially, made a submission to the Low Pay Commission, which was actually contrary to Government policy. The Minister was in favour of us doing it, not because he necessarily agreed but he doesn't want the, sort of, groupthink to take hold again. This was reported in parts of the media. So we are making these submissions on issues that we think are important and they're not necessarily in line with Government policy. So there is a practical example in that particular one, Chairman.

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