Thursday October 1, 2020

Budget spree comes at a price

Brian Cowen indicated in Wednesday’s budget speech that the underlying inflation rate for 2007, as measured by the Harmonised Index of Consumer Prices, would be about 2.6per cent.

9th December, 2006

He also expects economic growth to reach 5 per cent, and indeed described a growth rate around this figure as ideal in Ireland’s current circumstances.

If growth is 5 per cent and inflation 2 to 3 per cent, it follows that the expenditure side of the government budget can rise by no more than 7 to 8 per cent without the need for an increase in the tax burden or resorting to additional borrowing....

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