Oireachtas Joint and Select Committees

Thursday, 4 October 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector: Quarterly Engagement with the Central Bank

9:30 am

Photo of Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

We looked at the behaviour of credit unions and while some had made mistakes and got things wrong, the damage was a fraction of that done by the banks. It is important that people realise that while the credit unions were relatively okay in the end, had the bank guarantee not been put in place, they would have had a much greater problem.

I do not think the Central Bank in its statement referred to matters such as our significant dependence on a very small number of companies for such a large percentage of corporation tax receipts, the common corporate tax base, digital taxation and all of the European ideas that might jeopardise some of that income.

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