Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

4:20 am

Mr. Rob Wright:

Your comments on pro-cyclical - we are spending too much time on that and not on construction. As I said at the outset, I think in terms of what advice you would expect, the bread and butter of a Department of Finance, is fiscal policy. It also includes the overspent construction so it is actually included in that dynamic as well. It is not picking winners. I think it is the right weighting and I think the report deals appropriately with both of them.