Results 5,001-5,020 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: And, in those two instances, you think it was clear from the memo where the Department's feelings were and they were against those two schemes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: What-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay, what other proposals that came from the Ministers you served under? Would memos have come back where the emphasis was clearly on the con side?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay, so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: So what other proposals that came from the Ministers that you worked for did the Department basically disagree with?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: What about decentralisation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: What about tax policies like halving CGT?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: And so following something like that where the Department provides advices and they prove to be incorrect - and I suppose in that case it's dramatically incorrect - do you think then that has an effect on the way those advices are then treated or regarded going into future budgets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay, and so again in terms of this culture of ... I suppose robust culture of challenging the Minister on different ideas and different proposals and writing memos, did you ever do this work in relation to what was happening in the property sector and the housing boom and what contribution that was making to the economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay. Right, so ... one of the pieces of evidence we've heard about in previous sessions in relation to Morgan Kelly's work and how he published an article on a potential house price bubble in The Irish Timesat the end of 2006, and later published a report on the same theme as part of the ESRI's quarterly bulletin in the summer of 2007. So, when outside people, were, you know, having an...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: So this is written in 2006 and 2007 and you went back to work from the OECD from 1996, is that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: 2006, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: So you would have given serious consideration to Morgan Kelly's work at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay. And then when we look at things like the pre-budget letters coming in from the Central Bank, I mean, how much consideration would have been given to them? Because in the pre-budget letter from 2000, towards the end of 2000, looking ahead to 2001, it warned of a hard landing. It drew attention to the commercial price rise in property, to the residential price rise in property, to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay, well, we have it in evidence but you don't recall anyone going back, say, instead to a Central Bank pre-budget letter to look for ... to test against what Morgan Kelly was saying?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay. In the Nyberg report on the banking crisis, he states that there was a general ... in general a pervasive pressure for consensus and conformity of views across institutions and one of the reasons was to "adopt specific policies and accepted practices that later proved unsound". So, in your opinion, was there a pressure in the Department of Finance in the years up to 2006, this...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay. So you didn't feel like it was a culture or political pressure at work within the Department?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: Okay. Can you comment on what changes, if any, occurred with the change in Ministers in 2004 in the workings of the Department?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: But in relation, in terms of practices, preparations for the budgetary process, was there any change in how that went?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Eoghan Murphy: But the Department continued to play the central role it had played up to 2004, after 2004?