Public Spending

John Walsh: There is a strong whiff of 2007 about all of this, but there’s reason to hope

The government might be well advised to consider the German system, where a strict monitoring process ensures all spending represents value for money

Minister for Finance Michael McGrath and Paschal Donohoe, Minister for Public Expenditure and Reform: they have warned about the dangers of pegging current expenditure against windfall taxes

Of all the idioms that seeped into popular discourse during the Celtic Tiger era, “this time its different” was probably the most insidious and damaging. It was deployed every time there was a challenge to the prevailing orthodoxy that the economy would ride the wave of a credit-fuelled bubble for the following decade and beyond.

Of course, Charlie McCreevy’s refrain, “if I have it, I spend it”, was equally damaging. It underlined the extent to ...