Oireachtas Joint and Select Committees
Wednesday, 22 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. David Begg:
Well, I think, Deputy, it's important just to reflect that actually the wage share of national income over the period from 1990, I think, to 2009, drifted down by about 10% overall. Now, it has also to be said that was in the context of a growing cake, if you like, right. But the share that labour was receiving was not huge. The ... where it might have affected my attitude on the bank, as Deputy Higgins said earlier on, I mean, a leopard doesn't change ... he didn't say that but I say a leopard doesn't change its spots ... that whatever values you have, you don't leave them at the door, when you're going into discussions. From time to time, there were tensions ... I've adverted to that, between myself and members of the bank because I thought, for instance, that they had an undue emphasis at times - I thought they were actually obsessed by the question of the wage share, the wage issue, in competitiveness, for instance, whereas I considered it to be a much more holistic question than that. I can go into that, if you like, in more detail. So, those tensions were there between me and the bank from the other colleagues on the board of the bank from time to time. But, like, in any endeavour, you go in ... I mean, just as in this committee reflects a number of different political points of view-----
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