Results 4,861-4,880 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. McCarthy, you're very welcome. I'd like to look at Vol. 1, page 88, please in the evidence books and my question relates to the over-exposure of banks to commercial property, which was a flaw identified by the Regling-Watson report and if you look in that evidence book, it's page-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Yes, page 88.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Yes. So, it's ... this is an issues paper from May 2005 and, if you go down to the fifth paragraph, beginning: The section has identified the need to explore data sources and development of analysis of non-residential construction as a priority. Data is more limited in this area and up to now. Non-residential construction accounts for about half of construction output so it is worth...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Okay. Well then if we ... if we fast-forward then to March 2006 issues note from the Department, it's on page 92 of the same booklet and it's the third paragraph down, and this is a year later: The development and analysis of non-residential construction remains important. Data is more limited in this area [and the exact same sentence, non-residential] construction accounts for about half...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Okay, but in 2005, the assistant principal says, "We need to look at this because we don't have the data." And, a year later, the exact same assistant principal is saying the same thing, so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Well-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: -----it is according to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: -----the name given-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: -----at the top of the section in each issues paper. So can you help me understand? Is the assistant principal being ignored? Is the assistant principal not getting the resources to do this work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Even after a year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: A year has passed and still don't have the data?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Even though it's identified as a significant concern?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: A year later, the Department still can't get the data together?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Is that acceptable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: I think I understand the scale of the problem, or the task, but you're saying it can't be completed within a year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Okay. I want to move on from that then, if I may. I'll just go back a page, to page 91 in the evidence booklet, it's the Government saving scheme, the SSIA, and this note I think you're involved in compiling because your name is there, John McCarthy. The second paragraph, "Impact of SSIA maturity remains an imponderable; we have assumed a low propensity to spend the proceeds." So can I...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: I mean, you say impact remains imponderable, but then you conclude, or you assume, a low propensity to spend the proceeds. So how do you come to that assumption and was the assumption correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Is the assumption correct though?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: Sorry, was the assumption correct and did the maturing of the scheme contribute to overheating the economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Eoghan Murphy: So you could make a conclusion on ... as to whether or not it might have contributed to the overheating of the economy then?