Friday 20 October 2017

Eddie Hobbs: Address Taoiseach should (but won't) be delivering on real state of nation

Here are the top 10 home truths on our economic situation that you won't hear from Enda Kenny tonight

Taoiseach Enda Kenny sings Christmas carols
Taoiseach Enda Kenny sings Christmas carols

Eddie Hobbs

FIRSTLY, let me apologise for not using the Taoiseach's prerogative to give a state of the nation address before now, you know, during moments of real stress. Tonight I thought you deserved to hear the truth instead of listening to the vapid language of political misdirection delivered with dessertspoons of energy and enthusiasm.

Here's my top 10 home truths;

1. We began this crisis with the national debt at 25 per cent of our GDP. To get back to where we started would take 33 years of growth at 5 per cent per year if the debt remains at present levels. Next year we hope to do about 2 per cent but Ireland's GDP would need to exceed Holland's to get back our 2007 balance sheet such is the scale of a burst that none of the coalition parties anticipated in framing our own expansionary 2007 election manifestos.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss