Results 16,501-16,520 of 26,043 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Which was the 2004 budget-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: -----which is the one I'm reading from.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: No. You announced the termination of budget '03.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: No, no, I'm not. No, no, I'm ... I'm categorical on this, Mr. McCreevy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: The budget that you ... I can refer you to ... The budget was, your budget that you announced in December 2002 would be known as the budget for 2003, and you were a seasoned Minister for Finance. And in that budget 2003, you stated that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: The question is ... I suppose, in the time break, Mr. McCreevy, you might just check the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: -----the last two budgets you brought in. One ... the first ... the second last budget, you announced in December 2002, which was for the 2003 year, which you stated that you would be terminating all the reliefs at the end of December 2004, which was the signal date. And then in your final budget, which was December 2003, which was for 2004, you stated that your intention was to terminate...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: That was in your second last budget, for one or ... for one or two of the schemes you brought them forward.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Yes. I'll leave it with you for the break, Mr. McCreevy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Thanks, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: I'll hand it to you here that you can read it and I'll read from the Dáil record as well for you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Is the thing highlighted in yellow?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: So, from the Dáil record on 3 December which is the date you delivered the budget. You say:On tax reliefs, last year I announced the termination of a series of major tax reliefs from the end of 2004. Since then, I have been bombarded by demands to revisit that policy, especially in the case of one particular relief. And that's what is there. So the question I'm asking, you extended...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Do you accept ... do you now accept that in your last budget in December 2003, you extended the period for tax relief schemes by a further two years to the end of December 2006?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: But you announced it in the budget.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: So why did you do that against a backdrop of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: But you were categorical in your-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: -----December 2002 budget that all schemes were being concluded and there was no justification. You had property prices rising at a rapid rate. Professor Honohan has been in here and has gone on record as saying that '05 was where the major peaks arose. So the question I'm asking is who were you bombarded by?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: But you made that announcement in the previous budget, Mr. McCreevy, so why-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: So finally, why did you extend it and, in hindsight, should you have extended it by a further two years?