Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

That was just the first question. So you do accept that you were going to increase current expenditure by €17 billion. If we go to the bottom of that, because you were very critical of the Government in terms of your statement where it says ... where you say on page 5 of your statement but I'll just quote it - so, if we can leave the figures up on the screen - you say, "The average annual growth rate at just under 10% per year was roughly twice the underlying potential growth of the economy." If you see on this table down below in terms of what you were planning over the five years ahead, you were planning to increase expenditure by 8% while the growth rate was 4.2%. Would you agree that that was exactly what the Government had done the previous five years where the growth rate was 5% and they increased expenditure, on average, 9.8%?

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