Results 10,001-10,020 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: And can I just finish up on the point, for either of you ... if Anglo was nationalised, what would have been the practical procedures in terms of nationalising? Could it have been nationalised in a night? Would it have been required that, you just ... you would have put the liquidity funding in place to fund Anglo in terms of over the next number of days? What's the practical procedures in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: So there was no reason we'll say if ... if the Government wanted to make a decision on the night, that the following morning of the 30th, that Anglo wouldn't have been nationalised?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Thank you Chairman. Mr. Ahern, the programme for Government and social partnerships created a need to finance pre-agreed commitments from available revenues. Can you discuss the extent to which, in your opinion, such long-term political commitments influenced and constrained the Government's budgetary decisions? And I'm referencing, Chairman, page 101 Vol. 3, and also page 81, Vol. 3. So...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Okay. Can you explain why in all the budgets, we'll say, between 1999 and 2008, the amount that gave rise, the actual budget day outcome, the amount that was spent in the budget itself, was significantly more in many years than the actual document, the fiscal framework, that was presented to the Cabinet by the Minister of Finance in June?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: But can I make quick reference, Chairman, to page 95 of Vol. 3, which is effectively David Doyle's testimony to Mr. Wright, where he says: The pace of economic activity was strong 2001-2006 but the Department did not believe that this could continue. In 2005/6 the Minister was advised ... the country was depending on unsustainable tax revenues [and] that the economy had ... dramatically...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Were you aware in 2005 and 2006 that the economy was overheating because of the property sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Do you believe that those property taxes were sustainable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: So if those taxes were unsustainable, why then, throughout those years, Mr. Ahern, did we see rapid increases in Government spending? In '03, it went up by €2 billion; '04 by €2.7 billion; '05, €3.7 billion; '06, €5 billion; '07, €6 billion; right, every year. You also, in that period, in the 2003 budget, Mr. McCreevy announced that you would end all tax...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Why?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: No, they're all interlinked questions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: I'm not talking-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: I'm not talking about Mr. Cowen; I'm talking about Mr. McCreevy.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Mr. McCreevy announced in the 2003 budget that you were going to end all tax incentives at the end of '04. You then came along in the 2004 budget-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: To the end of 2006.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: So then, why did you come along and extend it again to '08?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: The question, really, was, I suppose, specifically in the budget packages between the difference between what the Minister for Finance and the Department of Finance would've brought to Cabinet and what was actually spent, the highest difference was in the year 2007.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: Was there any coincidence that was an election year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: You were Taoiseach at the time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Kieran O'Donnell: -----you'd have had to allow-----