Banking enquiry ignored boom spending

The banking enquiry failed to highlight that both public spending and bank lending tripled during the boom.

That resulted in a rise of some ¤160 billion in Ireland’s general government debt since 2006.

Some ¤64 billion of that went to Ireland’s banks. But it took close to ¤100 billion to fund the budget deficit ie to keep Ireland’s social welfare, health, education etc systems from collapsing.

The report would have been less of a waste if such figures were highlighted in its findings.

A. Leavy

Shielmartin Drive

Sutton, Dublin 13