Wednesday August 5, 2020

Ictu’s proposal on borrowing is neither desirable nor feasible

No finance minister would go to Brussels with David Begg’s proposal to defer cuts and expect to be taken seriously

3rd October, 2009

Speaking on RTE’s Morning Ireland last Thursday, David Begg, general secretary of Ictu, expressed the view that the government should abandon its stated objective of reducing the borrowing requirement to 3 per cent of GDP by 2013, deferring this target instead to 2017 or 2018.

He based his proposal on his concern that the government’s timetable would be ‘‘too brutal, too quick’’. He argued that government debt would be 34 per cent of GDP by the end...

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