Those deficit projections… December 5, 2012
Posted by WorldbyStorm in Economy, Irish Politics, Uncategorized.trackback
Only was able to briefly stop by the protest this evening, there was already a vociferous SF presence. But as to the Budget itself, well, this tends to stand out from Michael Noonan’s speech…
These deficit projections are based on projected economic growth for GDP in 2013 of 1.5 per cent, rising to 2.5 per cent in 2014 and 2.9 per cent in 2015, as published in the Medium-Term Fiscal Statement three weeks ago.
The Cedar Lounge Revolution 
Stephen Donnelly pulled him up on that, pointing out that GDP is irrelevant in our kind of economy – since all the growth comes from MNCs whose profits contribute nothing to the country. Worryingly, there was nothing in Donnelly’s speech I disagreed with.
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Donnelly can be very good on the analysis. Thank God someone pulled him up on that. but if that’s the level of thinking in the Budget we’re rightly up the creek without a paddle.
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He spoke between RBB and Pringle, and then Daly; and while all of those were good on indignation and CD particularly withering, Donnelly actually scored direct hits on the incoherence of the budget.
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CD has a great line in that sort of critique… Excellent. But the forensic approach is vital., isn’t it?
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Donnelly might be on the right but i’d prefer him to be an opponent that a FG or FF gom. Better someone who may be on a differing track but who genuinely is concerned about the good of the country.
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