Results 16,721-16,740 of 26,050 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: Was that not, on looking back now ... was that not very, very conservative, in terms of, sorry ... I sort of ... that's not the word I'm looking ... because if it was conservative it would be a lot more ... was that not very much erring on the side of being very optimistic?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: Okay. Can I just, one final thing Chairman? Page 9, you said, "Finance Departments are by their very nature fiscally conservative." You said, "The Department had been warning of the risks to the Budget and the economy for nearly a decade before the eventual crisis hit in 2008." How were you doing that because clearly it wasn't coming through in terms of the budgets? How were you doing...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: In the one area that was under your direct responsibility, the area of tax incentives, why wasn't the horse pulled up much earlier in terms of the incentives, the tax incentives for property? They were due to end the end of 2004, they ended up going out until four years later, 31 July 2008. How did that arise, Mr. Moran?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: That was six years before they were due to end.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: But it was an area that you would have been responsible for at the time and the review didn't start until 2005, and it was extended in the budget of 2004 by further up to the end of 31 July 2006. So finally, can you explain to me was it a political decision that the reviews didn't take place earlier?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: Would you say at the time there was lack of political will to actually look at-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Kieran O'Donnell: Was there lack of political will at the time to finish these schemes at the end of 2004?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Thanks, Chairman. Mr. Considine-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Q02300 type: 1 --> Apologies.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: I'm trying my best, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Yes. Thank you. Mr. Considine, during your tenure as Secretary General, what was the role of the Department of Finance in overseeing the Financial Regulator and was that ... was this role restricted to legislative issues related to the implementation of the new regulatory system or did it expand beyond this? I suppose, in simple terms, what was the role and, for instance, what was your...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Who was preparing that strategy statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: What role did you have in terms of the overseeing of financial regulation apart from ensuring that these statements were completed? Did you have a role in terms of an analysis of these statements? Did you have a role in terms of overseeing how the IFSC was functioning?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: And when you say there was never an issue in terms of extra staff being refused, who would that request have come from to the Department? Would it come from the CEO of the Financial Regulator or the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: So any questions that have come up ... and we've had various witnesses in before us ... there was an issue in terms of extra staff being forthcoming in the Financial Regulator, that it was purely an internal issue for the Financial Regulator. If a request ever came to the Department, you approved that request?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Can I just go back on a quick note. You were Secretary General of the Department of Finance for four budgets, the '03 budget, which was in December '02; the '04 budget, December '03; the '05 budget, December '04; and then the '06 budget in December '05. Am I correct in that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: Okay. Over that period, how many Ministers did you deal with?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: And which ... can you tell me which Ministers would have been dealing with which budget?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: '03 and '04.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Kieran O'Donnell: He became Minister on 29 September, correct. And then in '06? That's Mr. Cowen.