Handling of crisis is a shambles
Ireland has entered 2010 as it exited 2009 -- in severe economic distress. Over the last 12 months there has been a marked deterioration in the economy and the Government has taken no real action.
The two Budgets of 2009 were designed to increase tax receipts by €6.2bn between them, yet tax returns actually declined 19pc on 2008 levels. It would be foolhardy to conclude that these figures suggest a turning point.
Although December returns were above expectations, as were June and August, there is no suggestion that these months showed a recovery.