Oireachtas Joint and Select Committees

Thursday, 17 November 2022

Public Accounts Committee

2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund

9:30 am

Mr. John McCarthy:

I said we were in a better position than we were in 2008, when debt to income was way too high, which was one of the reasons the economy collapsed. We are now in a much better position. Some 97% is very low. As I also said to the Chair, the easing of the macroprudential tools will allow people on reasonable incomes to take on more debt and hence, buy a house.