Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Charlie McCreevy:

Well it looks like the Bacon ... Sorry I said in my earlier evidence that the effect of the Finance Act 1998 that did the non-deductibility and other changes, that certainly had an effect but it also had an effect in kind of shooting down the level of constructive activity, the level of employment in the construction area and that's why we changed it. Yes it certainly did, you could make that correlation.

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