Thursday 27 July 2017

Brendan Keenan: No room for complacency as we're still on a knife-edge

Brendan Keenan

Brendan Keenan

THE budgetary danger for the Government this year may be that people will come to think the danger has passed. After the shocks and alarms of 2009, this year runs the risk of seeming dull -- at least where the public finances are concerned.

That would be a mistake, and yesterday's Exchequer returns for taxes and spending in December illustrate the danger. They are slightly better than expected, providing welcome relief from the series of downgrades which occupied most of 2009.

That last of those occurred as recently as October, when the Department of Finance concluded that tax revenues would be some €2bn less than it had estimated in the emergency Budget in April.

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