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Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Mr. McCarthy, there's an anomalous situation in Ireland where country boreens in the west of Ireland have a speed limit of 100 km/h on them, but you don't drive 100 km/h on those country boreens because it's quite dangerous. Just because the sign says you can drive at 100 km/h, you don't do it. Likewise, when there are rules like this, and you identify difficulties, you don't proceed...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Deputy Joe Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Final question, Deputy. This is it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Deputy Kieran O'Donnell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Try not to be leading if you can. Just ask the question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Can we have the page numbers there, please, Deputy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I need to push you to a question now, Deputy, because you're going to run out of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I've afforded you a bit of time now, Deputy, but I do have to push you to a question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I said already, Deputy, I do need the question to be made so we can move on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay, that's the final question, Deputy. I'm moving on. Mr. McCarthy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay, thank you very much.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: For what period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: What period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay, thank you. So we have that answer. I just want to return to one item there that Deputy O'Donnell dealt with and I'm just going back to ... it's ... the core document's coming up in front of you there, Mr. McCarthy. It's the third paragraph down on it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: It's coming up in front of you there actually-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: -----the page itself, so it's DOF01B06, but it's a meeting with David Doyle, former Secretary General, and there's an outline of issues here. It's the third bullet down, which says: The pace of economic activity was strong [from] 2001-2006 but the Department did not believe that this could continue. In2005/6 the Minister was advised that the country was depending on unsustainable tax...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay. Given that a lot of these tax incentives were due to be wound up in 2004, could the proposition be made that a review of these tax incentivisations was just a means to elongate their implementation and to put off the day of their removal?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay, thank you. Deputy Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Supplementary now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay.

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