Results 23,661-23,680 of 35,924 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: -----the Department-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay. Do you believe that they had any effect on creating or sustaining a property bubble?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Sorry, Mr. Ahern, we're on a time limit here and I appreciate-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: If just maybe you could answer the question first, I would appreciate that there-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: -----which the question is, is do you believe that the extension of these property reliefs to the construction sector sustained and helped create a property bubble?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay, and when did you become of that view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay. When did you believe that a property bubble was in existence?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: So when did you believe personally? We've heard from Central Bank and other agencies over the last number of months in this inquiry; when did you believe personally, as Taoiseach or as ... whenever, that there was a property bubble in existence in this State?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Yes, sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: So-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay. Okay, so in 2006, when you say the boom is getting boomier, what did you mean by that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: So you didn't believe that there was a property bubble prior to May 2008 at least, when you left the Office of the Department of the Taoiseach, but you did believe that there was a property boom in 2006 that was getting boomier; is that ... would that be correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay, see this-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay. In relation-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Okay. We know from evidence that house prices and construction started to decline in the first quarter of 2007. Can I just talk to you about your speech at the opening of the new headquarters of Treasury Holdings on Monday, 10 December 2007? This was an attendance, just before Christmas, with Johnny Ronan and John and Richard Barrett was there. You talked about the outlook recognises "the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Sorry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: It was 10 December 2007.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Yes but, Mr. Ahern, in this speech at Treasury Buildings, you yourself acknowledge the difficulties facing the construction sector. You said, "This is why in last week's budget we introduced these measures." You go on to say, "To provide a significant stimulus to the market [which is the construction market]," and you go on to say that, "These measures taken together testify to the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: Mr. Ahern?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Pearse Doherty: In September 2000, after the publication of the third Bacon report and the adoptions of measures to cool the house price inflation, prices continued to rise. This is the year 2000. And further measures were proposed to you personally via an internal memorandum by the assistant principal in the Department of the Taoiseach to counteract this. One of the recommendations was to impose credit...