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

Michael McGrath: Yes, I said that in my question, Tánaiste.

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

Michael McGrath: We're three minutes in and you haven't even gone near answering the question.

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

Michael McGrath: You haven't. You're giving-----

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

Michael McGrath: -----colour and context and background. Can you answer the question, please?

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

Michael McGrath: Chair-----

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

Michael McGrath: -----can I ask you to help me in this regard?

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

Michael McGrath: There's over three minutes gone.

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

Michael McGrath: On economic growth, Tánaiste, yes.

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

Michael McGrath: On economic growth, but the figures here are the agreed Labour and Fine Gael figures-----

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

Michael McGrath: -----on your spending plans.

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

Michael McGrath: They're not from the ESRI or the Central Bank; let's be clear now.

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

Michael McGrath: Yes, on growth.

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

Michael McGrath: Can I distil it down to-----

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

Michael McGrath: Can I distil it down to a very simple question: do you accept that the Labour Party, going into the 2007 general election, was advocating a continuation of pro-cyclical fiscal policy?

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

Michael McGrath: Okay.

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

Michael McGrath: So just-----

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

Michael McGrath: Just to clarify-----

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

Michael McGrath: -----you are denying that a tax and expenditure package of €23 billion over five years and a proposal to spend at twice the rate of the projected economic growth, you're denying that that's pro-cyclical?

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

Michael McGrath: No, I'm asking you a question.

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

Michael McGrath: No, you did say it wasn't pro-cyclical so-----

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