Oireachtas Joint and Select Committees
Wednesday, 1 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Donal McNally:
No, we didn't propose the schemes. They had been proposed, I think, in 1992 ... I think the Department ... the Minister didn't proceed, but in 1995 it was decided to go ahead with them. While there may have been some sense behind them in terms of trying to restore the attractiveness of seaside resorts in Ireland, I think most of the investment went into accommodation, rather than into facilities and, I suppose, that is to be expected if there is tax relief for investing in property or for investing in amusements and things, the likelihood is that property will win out.
No comments