Saturday 10 December 2016

Correct decisions are not always popular

Published 17/09/2015 | 02:30

Finance Minister Michael Noonan. Ratings agency Moody's is far from convinced that the Government's claim that its €1.5bn tax cut and spending plan for Budget 2016 is wise
Finance Minister Michael Noonan. Ratings agency Moody's is far from convinced that the Government's claim that its €1.5bn tax cut and spending plan for Budget 2016 is wise

In an overview of the crash, one of the painful lessons was that many of those making critical decisions which would rebound on all our futures seemed to fall under a spell where they appeared to find it ultimately easier to ask for forgiveness, than to seek permission.

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Thus, decisions that should only have been made after forensic consideration and analysis were made on the hoof and in the heat of the moment. This story resonated in the chorus of remorse from the Banking Inquiry. Seeking approval or accepting advice has strangely been regarded almost as a sign of weakness in high office.

In recent days, both Moodys the ratings agency and the OECD think-tank have pointed to some flashing red lights on our economic dashboard. Moody's is far from convinced that the Government's claim that its €1.5bn tax cut and spending plan for Budget 2016 is wise.

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