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David Chance: 'Overruns in State spending see 'rainy day' fund drying up'

  

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Finance Minister Paschal Donohoe. Photo: Gareth Chaney, Collins

Finance Minister Paschal Donohoe. Photo: Gareth Chaney, Collins

Finance Minister Paschal Donohoe. Photo: Gareth Chaney, Collins

The spirit of Charlie McCreevy's "When I have it, I spend it" lives on in the current administration, despite all its protestations of prudence.

Instead of using one-off bumper receipts from multinationals to cut debt, it is being used to finance continued overruns in State spending. The size of a "rainy day" fund has been halved and plans to runs a budget surplus kicked some time into the future - or at least until after an election.


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