Archive for the ‘Economy’ Category

As the general election draws ever closer it is clear that the Labour Party are under pressure.

Desperate to deflect attention away from the negative impact of their decisions on ordinary people they have turned misrepresentation into a new art form.

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One thing is clear from the Governments much hyped Spring Statement – they have learned nothing from the mistakes of the past.

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Spring is in the air, the season of rebirth and rejuvenation. Michael Noonan is hoping that this week’s statement will generate a little spring like renewal in the fortunes of the Government parties as they set their sights on the general election.

Finance officials are busy downplaying the prospect of any detail in the Ministers address. But at the very least we will get a sense of the Governments economic and fiscal intentions for Budget 2016.

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Have you ever heard of the expenditure benchmark? Do you know how to calculate a structural deficit? Can you explain the interaction between the debt and deficit rules?

If the answer to these questions is no, don’t worry. You are obviously a well-grounded person with a good work life balance.

If the answer is yes, well you clearly need to get out more.

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Fine Gael and Labour’s economic recovery is a tale of two Ireland’s.

GDP is rising. Bond yields are falling. Property prices are recovering. Jobs are being created. People are even buying new cars.

According to Michael Noonan ‘austerity as we know it is over.’

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The politics and economics of austerity have failed to deliver a fair recovery. However anger or apathy are not the way forward. Opposition to unjust taxes and demands for increased public spending were never enough. We need to promote our workable alternatives to fiscal waterboarding Irish style.

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Like Robin Hood in reverse, Fine Gael take from the poor and give to the rich. To be more precise they take from low and middle income earners and give to the top 10%.

They are ably helped by their very own Friar Tuck but again in reverse. Labour are the jovial mendicant’s alter ego, slavishly bending to the authority of Frankfurt and Brussels.

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