Results 9,681-9,700 of 36,253 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: On Mr. Buti's final point regarding Ireland's structural balance, is the Commission of the view that its forecasts up to 2007 were correct or incorrect?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: I am just asking whether the Commission's assessments were correct or incorrect in the lead-up to 2007.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: M00700 type: 1 --> With respect, I intend to ask a follow-on question in respect of this matter. I just want Mr. Buti to indicate whether the assessments were right or wrong in the lead-up to 2007.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: They were wrong. That is fine. In reply to Deputy O'Donnell's question on why they were wrong, Mr. Buti referred to tax elasticity and the high levels of tax that were being collected from property-related sectors in particular. Surely the entire notion of a structural balance is not to rely on such elasticity or on increases in tax revenue resulting from a housing boom. How could the...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: When the Commission outlined its views on Ireland's economy - Mr. Buti referred to 2006 in this regard - in 2005 it described the potential output gap as being between 5% and 6%. Despite what has been provided to the members of the inquiry by the investigation team, all of the patterns show that this could not possibly be the case or that there was at least a risk involved. For example,...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: To try to pin down what happened before the property bubble, Mr. Buti mentioned the market got out of hand and also stated that, in retrospect, it was a bubble. Given everything other members have put forward in their questioning on the rise in house prices, the concentration of lending and everything that happened in the economy in the lead up to 2007, was the Commission at any time of the...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: With respect, in answer to the questions of other members, Mr. Buti said the market got out of hand, but he went on to say that, in retrospect, it was a bubble. He has given evidence to the inquiry that, in retrospect, the Commission is of the view there was a bubble. My question is very simple and straightforward. At any time during the period up until the bubble burst was the Commission...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: I had better speak fast. Rightly or wrongly, there has been a kind of narrative in this State for quite a while that we lost our economic sovereignty and that the IMF dictated the terms as part of the troika. As a people, we have heard some of Dr. Donovan's IMF colleagues who were involved in the mission in this State recounting their own views in the media. That happened again this week....

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: Can Dr. Donovan explain his comment about this being "pushed quite hard"? What is his understanding of how it was "pushed quite hard"?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: Can I just clarify-----

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: Can Dr. Donovan clarify that in light of the evidence he gave earlier? Is he suggesting that one conference call equates to being "pushed quite hard"? Is that the only evidence he has to back up his statement?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: I am probably half way through my time at this stage. When Dr. Mody was asked whether the Government missed an opportunity, he responded by saying "absolutely". He went on to say "there was a burden of debt that would legitimately be declared as an odious debt". Is that something to which Dr. Donovan would subscribe or from which he would dissent?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: I want to go back to the question of "odious debt". It is a bit frustrating that we have not even got past this first question. Dr. Donovan said that the term "odious debt" is usually applied to dictators, etc. I would like to refer to the quarterly magazine of the IMF, which talks about "the legal doctrine of odious debt". It suggests that "sovereign debt incurred without the consent of...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: Would Dr. Donovan subscribe to that definition, or would he dissent from it?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Pearse Doherty: No. I am asking whether he subscribes to that definition of "odious debt".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Pearse Doherty: Cuirim fáilte roimh an Aire. I hope he is making a full recovery after his recent trip to the hospital. I will not go over the ground covered by Deputy Michael McGrath. Page 5 refers to office equipment and external IT costs, for which over €1 million has been budgeted. Some of those costs are offset by public expenditure and reform savings. Does the Department have any...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Pearse Doherty: The Estimates for this year are as they are and the Department has no intention of going outside the Civil Service.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Pearse Doherty: Deputy Michael McGrath referred to subhead B4 and the €6.5 million for consultancy and other services. How much of that is related to advisers on the banks? What is the nature of the contracts that have been entered into, or those that are planned?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Pearse Doherty: Regarding the €4.3 million, what types of contract were entered into?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Pearse Doherty: Was the €4.3 million actually spent in 2014 and not a contingency figure for legal advice, etc.? In what way was it spent on consultancy pertaining to banking in 2014? Do we have an idea where it went?