Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

A minor filibuster.

The OECD report published on 2 November, which was welcomed by the Taoiseach, stated: "Regulatory as well as policy failures were a fundamental factor underlying the downturn". Is the Taoiseach aware that in 2006 the same OECD stated in a report on house prices that the most likely scenario was that prices would level out or decline slightly? In 2008, it went further and stated: "Much of the exceptionally large increase in house prices can be justified by Ireland's strong income growth, population expansion and the rising share of younger households". Clearly, there is a major discrepancy between the position of the OECD in 2006 and 2008 and its position in 2010. Would the Taoiseach like to comment on that discrepancy and on the role of the OECD in helping to create an illusion, a mirage?

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