Ian Guider: Pension crunch is coming as the state struggles to pay the bills

The government needs to find new sources of cash, and the generous tax treatment of high earners with lucrative pensions might be one area to reconsider

12th September, 2021
Ian Guider: Pension crunch is coming as the state struggles to pay the bills
Paschal Donohoe: the Minister for Finance needs to make some difficult decisions if he is to find a way to finance the state’s ever-increasing spending. Picture: Fergal Phillips

We are a month away from Budget 2022, and the unprecedented demands on government spending show no sign of abating, with state spending on health and housing at record levels.

Last year, Ireland posted a deficit of almost €19 billion. So far this year, the state is in the red to the tune of €6.6 billion. We’ve borrowed €16 billion on the bond market this year, and most of it was needed to fund day-to-day spending....

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