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Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Is there anything else you would like to add before we conclude?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: I thank Mr. McWilliams for his participation today. It has been a very informative and valuable meeting which has added to our understanding of the factors.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: I welcome Professor Terrence McDonough and apologise for the late commencement of session B, which is to discuss issues relating to the international, EU and domestic policy contexts to the banking crisis in Ireland. Professor McDonough is professor of economics at NUI Galway and has a PhD in economics from the University of Massachusetts at Amherst. Before joining NUI Galway in 1995, he...

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Thank you Professor McDonough. In your opening statement you make strong reference to a neoliberal policy programme that has been in place since 1987 up to the present. Can you define what you mean by neoliberalism?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: I am sure you will be familiar with the budgetary process, that education, social welfare and health costs as a proportion of the budget make up the lion’s share of the overall sum. Would you see that level of expenditure in the annual budget as consistent with the theory you are proposing?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Professor McDonough should speak of the Administrations rather than the individuals.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Senator Sean Barrett has six minutes.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: We have to give Professor McDonough time to respond.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: The Deputy is out of time.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: When Peter Nyberg was before the committee, one of the comments he referred to related to the social partnership model and how expenditure grew in public sector wages. Is Professor McDonough familiar with that part of the Nyberg report and would he like to make a comment on it?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: That is a standards in employment issue. In terms of a wage issue, which is also an equality issue, the benchmarking that took place was the public measured against the private. Does Professor McDonough have a view on that?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Specifically on the Nyberg report, does Professor McDonough agree with the-----

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: To finish up, two economists were in the Oireachtas recently. It was not with this committee, but with the social protection committee. One of them was Professor John FitzGerald and the other was Dr. Dónal de Buitléir. Professor FitzGerald said, "The overall impact of Government policy on expenditure and taxation of successive Governments has had a progressive impact." Dr....

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: Is there anything else Professor McDonough would like to add before we come to a conclusion?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Ciarán Lynch: With that said, I thank Professor McDonough for his participation. It has been a very informative and valuable meeting, which has added to our understanding of the factors leading to the banking crisis in Ireland.

Committee on Environment, Culture and the Gaeltacht: Select Sub-Committee on Arts, Heritage and the Gaeltacht: Estimates for Public Services 2015
Vote 33 - Arts, Heritage and the Gaeltacht (Revised)
(3 Mar 2015)

Ciarán Lynch: We are in public session. I remind members to switch off their mobile telephones and other technological equipment. This meeting has been convened to consider the Revised Estimate for Vote 33 - Arts, Heritage and the Gaeltacht in detail and to question the Minister in that regard. A briefing on the 2015 Revised Estimates from the Department, along with a suggested list of questions from...

Committee on Environment, Culture and the Gaeltacht: Select Sub-Committee on Arts, Heritage and the Gaeltacht: Estimates for Public Services 2015
Vote 33 - Arts, Heritage and the Gaeltacht (Revised)
(3 Mar 2015)

Ciarán Lynch: Before I open the debate to Members, I wish to raise the issue of funding for community development offices on English-speaking islands. The Minister of State, Deputy McHugh, is aware of the issue because he has worked on it for some time. A number of the islands are located off west Cork, such as Bere Island, Sherkin Island, Dursey Island, Whiddy, Heir Island and Long Island. Funding will...

Committee on Environment, Culture and the Gaeltacht: Select Sub-Committee on Arts, Heritage and the Gaeltacht: Estimates for Public Services 2015
Vote 33 - Arts, Heritage and the Gaeltacht (Revised)
(3 Mar 2015)

Ciarán Lynch: I thank the Minister of State. This is a very timely and apt response. While I do not expect the Minister of State to have the answer to this question today, the last time he was here, I mentioned to him the abandonment before Christmas of a tendering process for a Long Island ferry. If he cannot answer now, that is fine, but perhaps later this afternoon or tomorrow an official might let...

Committee on Environment, Culture and the Gaeltacht: Select Sub-Committee on Arts, Heritage and the Gaeltacht: Estimates for Public Services 2015
Vote 33 - Arts, Heritage and the Gaeltacht (Revised)
(3 Mar 2015)

Ciarán Lynch: Thank you. I call Deputy Ó Fearghaíl.

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