Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Donal McNally:

Well, my role in public expenditure was after the ... after the crisis started, and in that case there was significant cutbacks in spending. As regards the period from 2000, I think the picture varied. There was some years in which there was quite strong expenditure growth, and I think in 2003 and 2004 that fell to 7% or 6%. And then, after that, it returned to a level of 10%. So there was very strong expenditure growth. I mean, it was a time of plentiful resources. There were also Government commitments and social partnership commitments, so that these added to the pressures for public spending.