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Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Chairman, I've already dealt with that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Why?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Even though, Mr. Kelleher, during that time period from '04 to '08 the level of house completions were peaking at incredible rates and, clearly, were-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And, Mr. Parlon-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: So your members were looking for this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: A minute of Mr. Parlon's time there please ... the question really was were member of your Construction Industry Federation, namely, developers, lobbying the CIF to look for the extension of the deadline dates for these tax incentives?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: I suppose I am conscious, Mr. Kelleher, in the limited time I want to hear Mr. Parlon-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Mr. Parlon, in your time as Minister for State in the Department of Finance and the OPW, were you lobbied by the CIF and Mr. Kelleher for the extension of these timelines from up ... literally being extended for a four-year period from the end of December '04 right up to July '08 for all these tax incentive schemes that kept the construction sector going? Were you lobbied by the CIF and what...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Were you lobbied by anyone on these-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: By whom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Were you lobbied by developers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: What view would you have taken, Mr. Parlon?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Did the PDs and you, as Minister of State at the Department of Finance, support the extension deadline dates for these tax incentive schemes for literally a four-year period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Okay, you did not support it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Thank you, Chairman. Welcome Mr. Davitt. Dr. Davitt, I'm referring you to document Vol. 2, primarily to presentations made by Alan Ahearne and what I wanted really was, was that page 27 and page 31 to 32, and have you examined the factors that fuel property bubbles, as an organisation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: No, no. In terms of the property bubble that arose during the 2000s.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Did you study why you feel it happened?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Why not? I mean, for an organisation of your size, representing so many members, why was it never decided to commission a report as to what the causes were?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And what's your own view of what caused it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And in hindsight now, what do you think could've been done to prevent the property crisis ... property crash?

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