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Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay, and from what you observed, what were the critical difference between the business model of these new entrants - whatever number they were - and your own company, Ballymore? And if you can refer to risk assessment in your response, I would appreciate that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Can I ask you a final question? Mr. Mulryan, if the Government didn't guarantee Anglo Irish Bank and didn't establish NAMA ... if Anglo Irish Bank folded, given the level of exposure that you had to Anglo Irish Bank, where would you be today?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: You mention in your-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: The reason I ask is, you mentioned in your statement that NAMA bought you time, bought your company time, and that was required. There are many people that are maybe watching this that didn't have a vehicle to buy time. Many people's houses have been repossessed and they've never had the opportunity that others may have had. But if that time wasn't bought for you or for your company, the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: -----your loans would obviously be in default and would be called upon-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an Taoiseach agus an Aire chuig an coiste fiosrúcháin. Mr. Kenny, can I start with you in relation to ... one of the key criticisms of Government policy during the years 2002 to 2007 which has a emerged during this inquiry, was the narrowing of the tax base and increasing dependence on transitional taxes. The Fine Gael...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Just bear with me one second because we are on time restriction here and this ... there's a specific question in relation to the Fine Gael manifesto of 2007 and the question is: the commitments that you were giving to cut tax, income tax, for all taxpayers and to keep capital gains tax down at the current levels.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: How ... would that not have eroded the tax base further? And what policies did your party have at that time to broaden the tax base - if any?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Sorry, Mr. Kenny, I -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Can I just-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Can I just interrupt you .... we're four minutes into this question, I need an answer in terms of your policy commitments and there's two specific questions. It is, would the policy commitments of Fine Gael have further eroded the tax base? And what policies, if any, did Fine Gael-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: -----have to broaden the tax base to provide------

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: -----more stable revenues-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: -----for government?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Now, would you appreciate answering my question, which is the policy commitments and not the consistency of your policies, but the policy commitments and not the projections of the ESRI, but your policy commitments to reduce income tax for everybody and to keep tax levels at the current ... in terms of capital gains tax and corporation tax, would that not have eroded the tax base?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Okay, I'm moving on. I'm still no wiser whether you believe that your commitments would have further eroded the tax base-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: -----and what policies that you had at that time to broaden the tax base. But time is of the essence. During your time in opposition, did you actively seek views and opinions from banks, property developers or their trade bodies in order to develop property strategy, Mr. Kenny? And how did you ensure that policies were developed in a way which balanced the needs of all stakeholders?

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