Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John McCarthy:

This is 2006, I suspect the ... that there may be two issues there, we may have had the CSO study at the time but I genuinely can't remember. The assumption of a low propensity to spend would typically be ... we would tend to have a cautious view anyway, and if it's stronger so be it. But typically you have to remember about 0.6 or 0.7, well maybe closer to 0.6, of everything you and I consume is imported, so it doesn't really impact on GDP that much. It does impact on taxes and on-----