The perils of prematurely celebrating economic success

The perils of prematurely celebrating economic success
By trumpeting its own economic success prematurely (in terms of the electoral cycle) the government committed a cardinal political error. It now faces a year-and-a-half of mounting economic demands on it when it has the least political strength to resist these demands. Last week Jack O’Connor of Siptu forecast a wage “explosion” next year with thousands of workers lodging claims for pay increases. In the unlikely event that the government manages to jump out of the water charges frying pan, it may simply land in a fire of industrial unrest and unmanageable expectations.

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