Friday 9 December 2016

You cannot change economic reality with an extra dose of jargon

Published 06/02/2016 | 02:30

Charlie Haughey
Charlie Haughey

Come back Charlie McCreevy, all is forgiven. Well, almost all. At least you could understand what Mr McCreevy meant. Well, most of the time.

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His best-remembered phrase is, "When I have it, I spend it." There's no doubt what that means. On the other hand, even the most articulate economists had trouble this week explaining 'fiscal space'. In fact, both mean much the same thing.

We might call it 'Keshonomics'. When the Long Kesh prison got a particularly bad name, what with internment, dirty protests and so on, the name was changed to the much less intimidating 'Maze'. (Both are real places in the vicinity).

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