Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

So if those taxes were unsustainable, why then, throughout those years, Mr. Ahern, did we see rapid increases in Government spending? In '03, it went up by €2 billion; '04 by €2.7 billion; '05, €3.7 billion; '06, €5 billion; '07, €6 billion; right, every year. You also, in that period, in the 2003 budget, Mr. McCreevy announced that you would end all tax incentives at the end of 2004. He came along in the 2004 budget, he said he was bombarded, so he basically extended the tax incentives to the end of 2006. They were further extended to the end of July '08. Do you stand over those extensions?

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