Saturday 18 November 2017

David Mc Williams: Simple rules of economics say we must spend, not cut

David Mc Williams

On Monday the opposition parties finally visited the oracle on Merrion Street. Things are bad. So bad that even Michael Noonan couldn't summon a suitable analogy to describe the situation.

This is the same man who on Budget Night was capable of the immortal put down "Wasn't Pol Pot radical?" when individualisation was being breathlessly and flatteringly described as "radical".

He is again focusing on the budget but this time he could only muster: "The figure of adjustment published already in the Government plans was €7.5 billion. With lower growth rates projected, the level of adjustment is going to be significantly higher than that."

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