Saturday 21 January 2017

Majority favour stimulus package

Published 04/04/2010 | 05:00

THE Government should have tried a major stimulus package in an attempt to reboot the economy, according to more than half of the country's major corporate chiefs.

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Almost 54 per cent of respondents to our survey indicated that Finance Minister Brian Lenihan should have copied the approach in the US, UK and other European countries by introducing a stimulus package to boost consumer spending.

The US emerged from recession quickly and has reported strong growth, with the UK and other European countries also exiting recession, albeit with a massive debt burden.

The US introduced a package of measures worth around $787bn -- split between tax cuts and massive capital-spending projects.

Ireland's attempt at stimulus has been negligible, with small, green home-improvement and car-scrappage schemes introduced by the cash-strapped Government -- which has instead followed a policy of spending cuts and deflation.

Sunday Independent

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