Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

We did, we did, indeed, and you've referred to some of them in some of your earlier testimony today, in particular, Mr. Gray who ... Again, we can't cover the night of the guarantee but we know you spoke to him on that particular night but we'll come to that later. Mr. Gray was, and I believe still is, the head of Indecon consultants. You appointed him to the board of the Central Bank and the Financial Services Authority on 2 January 2007. You also appointed his company to conduct a review of the property-based tax incentive schemes that you have outlined earlier on. Can you understand from the point of view of the general public that there was perhaps a conflict of interest, that Mr. Gray was somebody who was giving you some, sort of, advice in your term as Minister for Finance and as Taoiseach, and that he was appointed by you to the board of the Central Bank and that your Department were hiring his business to conduct reviews of significant things like the property tax incentive schemes.

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