Wednesday 17 January 2018

Public wage bill real source of our woes

YOUR editorial (Irish Independent, August 26) focuses mainly on the €25bn Anglo Irish black hole.

Of course it's bad but it's a one-off. The real disaster is our self-inflicted annual recurring €20bn fiscal black hole. Watch this deficit accumulate over a few years and the Anglo figures will look like small change.

In spite of all the "tough measures", the deficit is actually bigger this year and the proposed €2bn cut in current expenditure in 2011 is derisory.

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