Thursday 29 June 2017

Brendan Keenan: Lenihan can't let polls slow him down in quest for cuts

THE Government needed a lucky break before the weekend opinion polls came thundering down the track. It did not get it.

The nature of the Irish economy means that figures for quarterly activity every three months jump about the place like a demented cat. Yesterday's data for the three months to June was no exception.

Hopes for a second quarter of growth were dashed, largely because the giant chemicals industry imported a lot of stuff to go into blockbuster drugs and other fancy products. It can give only grim satisfaction to Messrs Cowen and Lenihan that these growth-depressing imports will eventually reappear as hugely valuable exports.

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