Monday 29 May 2017

Bredan Keenan: We cannot afford any sequels to this horror

The harsh truth is that if growth is any lower than forecast, the targets in the four-year plan will not be met

WOMEN, said Warren Beatty, are like city buses. There's always another one along in a minute.

Well, it may have been so for him, although I have to differ. Not just about women either, but about city buses as well (which I guess comes from living in Dublin). It is, however, a good example of Irish financial crises. There's always another one along in a minute.

Something will have to be done about this. To see why, one only has to look at the growth figures underpinning the four-year plan. The difficulty with fiscal corrections is that they are not just arithmetic. A government can raise taxes and cut spending, but the actual result is outside its control, because it depends on the rate of growth.

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