We’ve been through a lot - we deserve optimism

The recession is over, but the Department of Finance seems intent on fighting old battles and licking wounds

3rd September, 2017
Minister for Finance and Public Expenditure and Reform Paschal Donohoe

In his speech to the budget oversight committee last month, Minister for Finance and Public Expenditure and Reform Paschal Donohoe said the following, in relation to our debt levels: “While the debt ratio has fallen considerably in recent years, this arises from distortions in our GDP data.”

Now, I doubt the minister intended to mislead the committee, but the statement is not true.

Using the new CSO economic measure, GNI, our debt ratio...

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