Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Bertie Ahern:

Yes but, Chairman, nobody in government, and I, as Head of the Government, ever believed that 30% of the taxes was going to remain. Neither did I believe ... I think in 2012 that came down to 11%. As I said earlier on, the judgment was that we would have to correct somewhere from 55,000 to 88,000 which was the figure that everybody gave. We couldn't have controlled the situation of bringing it from 88,000 to 8,000 which is what happened, but that was never a consideration because we never believed we'd have to make that correction. Unfortunately, that correction had to be made ultimately.

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