Sunday 4 December 2016

Austerity may not lead to prosperity

Tightening belts is all well and good if it has a clear purpose, writes Celia Larkin, but our leaders have failed to show us the big picture

Published 12/12/2010 | 05:00

THIS has been a traumatic few weeks, with the publication of the four-year plan, the EU/IMF programme for financial support for Ireland and Budget 2011. Here we are, the final pieces of the jigsaw slotted into place, but where's the picture? The whole point of a jigsaw is to be able to see the overall picture or plan, but who has a growth plan?

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At this point, what we're looking at is low growth, doubtful fiscal sustainability, a fragile banking sector and several billions in aid ready to be drawn down. We have to get ourselves back on track.

Like the bold child, we have to spend time on the naughty step and behave ourselves. This, we will do, but what's the plan at the end? Does anyone actually have a growth plan?

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