So who really bore the burden of our recession and recovery ?

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By Cormac Lucey The question of who bore the brunt of the bitter economic adjustment Ireland faced in the years immediately following 2008, as economic boom turned to bust, has always attracted heavy political attention. It’s also attracted academic attention as various experts have trawled through the data to measure the impact of the bust on different social strata. The … Read More

Ibec’s strange call for increased government spending

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By Cormac Lucey In its pre-budget submission for next year, the Irish Business and Employers Conference (Ibec) has called on finance minister Paschal Donohoe to include the whopping 2015 GDP growth rate in the way he calculates permitted spending under European Union fiscal rules. This would allow the minister to spend an additional €7.2bn between 2018 and 2021. Government’s own … Read More

The recovery is taking hold so let’s not blow it on spending

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By Cormac Lucey There have been several warnings in recent weeks that the government’s fiscal policy is too loose and in danger of overstimulating the economy. The European Union council on May 22 concluded that Ireland was experiencing “macroeconomic imbalances”. The large level of public and private debt “makes Ireland vulnerable to adverse shocks”, according to the council, which believes … Read More