Friday June 5, 2020

More spending and budget deficits are inevitable

The economic cost of the coronavirus is mounting, but now is not the time to worry about deficit reduction and the national debt

24th May, 2020
The state has spent more than €1 billion alone on the temporary wage subsidy scheme propping up jobs.

Stark warnings about the deterioration of the public finances were delivered by both the Taoiseach and the Minister for Finance last week.

Speaking in the Dáil, Leo Varadkar cautioned that although the country can borrow money cheaply now, it would not always be the case that Ireland would be able to access such low financing costs. If conditions changed, the country would pay a heavy price, he warned.

Then, in an interview with...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

We must ensure that the energy and focus that went into the health response is carried on into the reopening of our economy

Business Post Team | 5 days ago

The much-heralded new culture of openness and transparency is in scarce evidence when it comes to the level of deaths in our nursing homes

Business Post Team | 1 week ago

The sector had been plagued by problems and high costs even before the onset of the pandemic

Business Post Team | 2 weeks ago