Results 24,241-24,260 of 36,054 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: You mentioned the Minister for Finance, which would be Charlie McCreevy at the time of 2003 and 2004. You said there was an expectation, or there was an announcement that the rates would be abolished, and in 2004 they were extended. Clarify one thing for me, first of all, if Minister McCreevy did nothing on budget day, those tax reliefs would be gone, am I correct in relation to that,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Basically, if he did nothing ... as in ... if the Finance Bill wasn't changed, then they-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: They would have terminated.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Yes, but they were due to terminate in 2004?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Yes, but the point I'm making, they're not like income tax, where the tax is there indefinitely. These were tax reliefs for a period ... a set period of time, which were supposed to ... and the decision was taken by Minister McCreevy, am I right in saying, against the recommendation of the Department to extend those for another period of two years?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Okay. Well, if it's your general view, did you ever express that to the Minister? Or was ... did anybody express that to the Minister?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Do you understand why the Minister rejected the views of the Department in that regard?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Which representations would they be? Were they representations from the sector, representations from other-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: So the property developers, speculators, individuals who were investing into the reliefs?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: And the reliefs in ... the reliefs, the review of the reliefs ... am I right in saying this that they were to the benefit to the most wealthiest in society as opposed to those in the middle or those on the bottom?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an tUasal McCreevy. Can I begin first of all by asking you through 1999 to 2003, the Governor and the Central Bank warned you of excessive growth in the credit markets, warned you about the housing markets, commercial property markets, overheating in the economy and, finally, the possibility of a hard landing and this could lead to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: So, would that be a "No"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: The question I asked you. The question was, in relation to the warnings that the Central Bank were issuing you in relation to your policies in terms of the credit market, the housing market, the commercial property, the fact that they were warning of the possibility of a hard landing which could lead to unhappy economic and social consequences, with hindsight, and given the advice you were...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Okay, I appreciate that. Do you accept at all that your policies had ... well, first of all, can I ask you do you believe that there was a property bubble?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Yes, we do.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: So ... but do you believe, do you acknowledge that there was a property bubble-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: -----at some stage?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: Yes, I appreciate that, Mr. McCreevy.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Pearse Doherty: I know. I understand. I am not-----