Brendan Keenan: Great Four-Year Plan has to be believable to citizen taxpayer
THE speculation has begun, and the rage will soon follow. Not financial speculation this time, but the media kind; about what will be in the Budget.
The speculation centres on a big bang Budget, with perhaps more than €4bn of adjustments. Fear of the markets by the authorities, and rage among the citizens affected, may make it impossible to have cool and calm consideration of the options.
Such consideration runs into an immediate paradox: that it is easier to increase existing taxes than start new ones. People complain less, and there is more certainty about the revenue.