Short-term solutions will not solve our problems

The climate is poor at home and abroad, meaning firm budget measures are needed

5th December, 2009

Nationally and internationally, the policy climate in which this week’s budget decisions must be taken has worsened over the last couple of months. In Ireland, tax revenue remains weak, and the budget deficit for 2009 will exceed the projection in April’s supplementary budget. It may no longer be realistic to expect that the 2010 figure can be contained below the unsustainable level of 12 per cent of GDP, even with a stringent budget.

Internationally,...

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