Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

Okay. Can I just bring another document to your attention and this, I requested, would be furnished in your own evidence book. It is in office of the Minister for Finance, top secret memorandum for Government, Economic and Budgetary Strategy for the 2004 to 2006 period, dated 19 June 2003. It will just come on the screen there now. If I can move on to page 5 of this and right at the bottom of the page, on item 8 there, it says:

The 2004 Budget will be prepared against the continuation of the 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.

Given the expenditure that continued after that period, were you cognisant and aware of this document by the Department of Finance in the decisions that you were making as Taoiseach of this country?

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