Banking Inquiry will not redact 'Arbeit macht frei' reference in Ronan's statement

It is understood the Banking Inquiry will not redact a developer's evidence which included a phrase connected to Nazi Germany.

Johnny Ronan's written statement included the phrase "Arbeit macht frei", meaning 'work will set you free', which appeared as a sign over the entrance gates to several concentration camps.

Having claimed in his statement that Nama had destroyed his business, he signed off the statement with the line: "‘Arbeit macht frei’ nó, i nGaeilge, ‘Tugann saothar saoirse’."

His use of the phrase prompted a call from former justice minister Alan Shatter for the sentence to be redacted so that it no longer appears on the Oireachtas website.

"He should have the decency to acknowledge he's made a very serious error, and to apologise for it," Deputy Shatter (pictured) said.

But it is understood the inquiry will not remove the comment, as the statement enjoys legal protection and any interference would create a dangerous legal precedent.