Oireachtas Joint and Select Committees

Tuesday, 30 April 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Stability Programme Update: Discussion with Minister for Finance

6:25 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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As I said, one of the principal reasons is interest rates. There was an interest rate holiday, cleverly negotiated by our predecessors, which kicked back in when it expired.