Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Dermot McCarthy:
Mr. Wright made that observation or reached that conclusion in a particular context which was that the process was overwhelmed.
In other words, that the way in which the budget was formulated, progressed, debated and adopted didn't allow sufficient time for all of the relevant factors to be taken into account and the pressure for expenditure arising from the programme for Government and the pay terms which were established in the public service through social partnership weren't sufficiently tested. And, in that respect, I think he's probably right.