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

Pearse Doherty: -----conversations?

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

Pearse Doherty: Okay, can you tell us what you said to Mr. Moran, from the best ... your recollection?

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

Pearse Doherty: He didn't say anything to you on the phone.

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

Pearse Doherty: So this is, okay, this is after the guarantee and prior to recapitalisation. It also is reported that you said "Getting very rough on the ground for business, said Bruton", which is Minister Richard Bruton, "issued a statement this afternoon pushing for a bank recap." And it's understood that, actually, that statement was issued on that same day. Did you mention that to Mr. Moran?

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

Pearse Doherty: But you did not discuss recapitalisation of the banks-----

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

Pearse Doherty: Okay. So you didn't discuss the issue of recapitalisation with Anglo Irish Bank on that telephone call?

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

Pearse Doherty: Why were Fine Gael pushing for bank recapitalisation at that time, which is late November 2008?

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

Pearse Doherty: Why were Fine Gael pushing for bank recapitalisation at that time?

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

Pearse Doherty: Can I ask, Deputy Bruton, you were very critical of the tax reliefs in your opening statement in relation to the property tax reliefs and indeed Mr. Kenny outlined them in his opening statement. Can I ask you, Mr. Bruton, why did you table an amendment in the Finance Bill in February 2004 looking for an extension of the tax reliefs to allow for, not full planning permission to be required,...

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

Pearse Doherty: Do you accept, bar the amendment that you officially tabled in your own name in the finance committee on 2004, which as Deputy McCreevy says, "The Deputy's amendment [which is your amendment] seeks to achieve an extension of the transitional arrangements for the existing schemes of capital allowances for hotels and holiday camps." and there were a number of other schemes as well which you-----

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

Pearse Doherty: And in relation to ... From your understanding of ... and being on the finance committee at that time, the argument that you have put forward in relation to specific projects being captured and not being able to avail of these reliefs and obviously if you extend them, you extend them for not just the individual project that may be knowledgeable to you but other projects as well that-----

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

Pearse Doherty: Can I just finish the question, sorry. Do you also ... do you believe or not that was the same type of argument that was provided by Government in extending the tax reliefs in 2002, 2004 and 2006?

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

Pearse Doherty: Go raibh maith agat. Mr. Kenny, when it was put to you by Deputy McGrath about that your Government advocated increase in expenditure, you replied saying, "Far from that." I would like you to refer to Vol. 2, page 78, and if you would indulge me, we'll actually look at some numbers, and I would ask you then to show me how you didn't advocate increased expenditure. What I want you to look...

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

Pearse Doherty: So when you sorted out all the waste and all the efficiency and all the competitiveness that you laid out in your manifesto, you still planned to increase current expenditure by €17 billion, do we accept or deny that fact?

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: That was just the first question. So you do accept that you were going to increase current expenditure by €17 billion. If we go to the bottom of that, because you were very critical of the Government in terms of your statement where it says ... where you say on page 5 of your statement but I'll just quote it - so, if we can leave the figures up on the screen - you say, "The average...

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

Pearse Doherty: Okay, I'm not talking about the financial model, I'm talking about the numbers.

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

Pearse Doherty: Well, if that was applied, what is happening at this point in time even to your policy, you wouldn't be able to implement that. But I want to go back to my core points here. The point I've made in looking at the figures, and let's talk about the figures Taoiseach, what Fine Gael was advocating at that time was to spend twice of what the growth rate was in the economy. The growth rate you...

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

Pearse Doherty: Is that a "Yes" or a "No", just?

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

Pearse Doherty: I'm not adding a supplementary, I'm actually at the original question. Because the Taoiseach can read the entire 90-page manifesto if he wants, I want to focus into two lines and four numbers. And the question is very simple. Because the document doesn't speak. You're the Taoiseach and I want you to confirm, is the interpretation that I have of the document, is that the Fine Gael plan in...

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