Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

1:25 am

Mr. Rob Wright:

"Ignored" is very strong, but it certainly was not followed. In the text of that report we explain a number of reasons why, that could explain a year or two of it. First of all, the timing of the budget was out of line with the timing of some of the revenue receipts if revenues came in higher. There was a tendency to think - not in the Department of Finance - that if there is a surprise to the upside on revenues, let us spend it. That is what happened. There was a menu of ideas from programmes for Government or the social process that had real demand from the people of Ireland. Politicians did not resist all of that; they may have resisted some.