Ireland’s government issued a revised budget yesterday. It is an austere break from the model being adopted in many other countries. Ireland’s finances are in dire need of repair and the government has reacted by increasing taxes and reducing public spending. It is certain that we need to make adjustments and rebuild our economy to be more productive, but it must be hoped that we do not kill the economy completely with the budget (I don’t think it will, but …). One area of great contention which was largely ommitted was the cost of government – many people will want to see cutbacks there as it is a large part of the economy and has not suffered like the private sector to date.
This article summarises the measures and hints at the outlook.