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

Joan Burton: Based on-----

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

Joan Burton: Based ... sorry, sorry, based on the figures that are indicated in relation to growth in the tables on page 78 of the documentation that you provided us with-----

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

Joan Burton: -----and we set it out very clearly. But in the Labour Party's manifesto, we started the section dealing with the economy with, "Sound economic management is a fundamental requirement of good government" and we said that budgetary policy would be absolutely linked in terms of our commitments in the context of the various structures of the European Union. Not only that, we actually...

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

Joan Burton: -----the decentralisation; we were-----

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

Joan Burton: No, the Labour Party was advocating changes in relation to the management of how the tax system dealt with, for example, the bubble that I've just described. There were tax breaks amounting to billions a year. The Labour Party also proposed to address the issue-----

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

Joan Burton: -----of waste in public spending-----

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

Joan Burton: -----and the Labour Party also-----

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

Joan Burton: Yes.

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

Joan Burton: Sorry, you're trying to put words in my mouth.

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

Joan Burton: You're actually ... no, you're trying to put words in my mouth.

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

Joan Burton: And what I'm saying-----

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

Joan Burton: -----is that the proposals by the Labour Party and by Fine Gael were very, very carefully costed and they took into account as well the significant savings that would be made by policy changes-----

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

Joan Burton: -----which would result in the tighter running-----

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

Joan Burton: -----of the public finances.

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

Joan Burton: In the context of the figures for growth that were provided by, as I said-----

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

Joan Burton: -----the organisations I've referenced, growth at that point was still expected. You're talking about 2007. As Deputy Rabbitte has said, nobody, in 2007, actually anticipated the entire collapse of the entire banking and construction system. We knew that there were difficulties ahead and, in fact, our detailed manifesto sets out, in great detail, how the budgetary policy-----

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

Joan Burton: -----would be driven by respect for the guidelines-----

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

Joan Burton: -----in relation to spending-----

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

Joan Burton: -----from the European Union.

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

Joan Burton: Sorry, I just said to you that we were given information which was costed and which was verified by both the Department of Finance and by the ESRI and we proposed changes to stop the waste of spending, which had become notorious at that stage-----

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