Sunday 17 December 2017

Economic figures just don't add up

Our clueless politicians are surprised that the economic figures are worse than expected. But unless they've been trapped on Mars for the past two years they would know that the fiscal gap to be closed is €20bn (not €7.5bn or €10.3bn).

Factoring in economic growth is pure wishful thinking. With an income of €30bn it is simply not possible to spend €20bn on public pay and €20bn on social welfare -- €10bn is the very most we can spend on each of these big ticket items.

This leaves just €10bn for all other public expenditure, including the growing billions to service our runaway national debt.

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