Thursday 8 December 2016

Time to let new ideas take root

Published 27/06/2010 | 05:00

Everybody knows and accepts that the Government has to find a substantial amount of money by the end of the year and that adjusting the level of State spending downwards is the most sensible way to achieve this.

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The Government's hands are tied in this regard by the unwise Croke Park agreement. But there is still the McCarthy Report, which contains a broad range of proposals aimed at bringing State spending under control, and most of these have not even been considered, let alone acted upon. But that does not seem to be the way the Government is thinking.

Instead the Government is looking at the easy -- but potentially ruinous -- option of increasing taxation. Getting State spending under control is vitally important, but it is only one half of the solution. Deflating the economy to the point of life-support without a single encouraging stimulus measure is tantamount to condemning this country to permanent depression.

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