Tuesday 25 July 2017

Strike a balance and get it right

This time last year Finance Minister Brian Lenihan, when presenting his Budget for 2010, used a phrase that everyone recognised at the time was a hostage to fortune. "The worst is over,'' he confidently predicted in the Dail.

"It is the last big push of this crisis,'' he said of a Budget that was taking €4bn out of the economy in spending cuts and tax increases.

Unfortunately the minister was wrong on both counts. The worst was not over and that Budget was not the last 'big push'.

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