Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

I'll put it on the screen in front of you there, if you don't mind, okay, and we may need to come back to it again as we kind of wrap up but to just kind of familiarise yourself again with it once more. This is of 19 June 2013 and it's the Office of the Minister for Finance and I'll just be asking the investigation team to be putting this in as an evidence document for further hearings coming down the tracks as well. It's 2003, sorry, my apologies. Yes, 2003. And if you just look at the first two Roman numericals on page 1, it references a general Government deficit and then on II it says, "Ministers should prepare their pre-Budget Estimates proposals for 20[1]4, 2005 and 2006 on the basis of an overall reduction of [a half a million euros] in the costs of the Existing Level of Current Supply Services."

Now, this was in and around the time of the decentralisation and forth ... so forth. I just want to move on to one, two, three, four pages later. It's to the item, Background to Budget 2004.8. It's at the very end of the page, yes, it's actually circled there. All right. And there it says:

The 2004 budget will be prepared against a continuation of [a] more difficult international and domestic economic climate which has been present since the second half of 2001. The period of exceptional economic growth enjoyed by Ireland is over.

Do you recall that sentence because when I read that it actually, kind of, came off the page quite loudly to me? Do you recall this document?

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