Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom Considine:

Well, if you look at it there, the years that I was ... you're asking me about, 2003 is the only year that actually less was ... the budget cost less than we recommended. Every other year it cost more. But I'd like to stress though, that what happened was, and this is a very important point, that that advice was actually signed off by the Minister for Finance. So, what happened was, in the autumn when the horse trading took place between the Department of Finance, the Minister for Finance and other Departments and Ministers, then it wasn't possible to hold the line. The political pressure to spend, to give extra tax relief, and so on, was too strong and-----