Monday July 13, 2020

Tricky fiscal balancing act ahead for next government

Two key reports detail the scale of the economic devastation caused by the pandemic. But spending big now to support the economy will limit the degree to which austerity will be required in the future

31st May, 2020
IFAC described it as an “economic crisis” while the ESRI told us the economy was facing “the largest recession in its history

Two detailed reports last week laid bare the scale of the economic devastation caused by the necessary public health measures introduced to tackle the Covid-19 pandemic.

The analyses compiled by the Irish Fiscal Advisory Council (IFAC) and the Economic and Social Research Institute (ESRI) provided some detail to the facts of life we’re all too familiar with and can see around us.

Unemployment has soared, consumption has plummeted. Investment has fallen off a...

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