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Donohoe's astute remarks ring true - Ireland needs to balance the books

Colm McCarthy


The Budget offers a chance to challenge the soft-option brigade who have enjoyed a free run over the summer

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Minister for Finance, Paschal Donohoe TD. Photo: Collins Dublin/Gareth Chaney

Minister for Finance, Paschal Donohoe TD. Photo: Collins Dublin/Gareth Chaney

Minister for Finance, Paschal Donohoe TD. Photo: Collins Dublin/Gareth Chaney

On Thursday, Paschal Donohoe addressed the Budget Oversight Committee of Dáil Eireann about the measures which will be presented a week on Tuesday. He said: "What we will need to do is to demonstrate that - once the worst of the pandemic has passed - we are committed to balancing the books over the medium term. This can be done in a timely manner, consistent with the dual needs of supporting the economy as well as ensuring fiscal sustainability".

Since the Government has been able to borrow at zero or negligible interest rates, and has had no difficulty in selling government debt, the impression has been created that heavy borrowing can continue indefinitely.


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