An Ennis economist says it’s an ‘unavoidable reality’ that taxes will eventually be raised and spending cut to ease the pressure on public finances.
Government spending exceeded income by 9.5 billion euro up to the end of August.
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However, the government’s total tax take is down just 2.3 per cent or just over 800 million on the same time last year.
Ennis native and Assistant Professor of Social Policy at UCD, Micheál Collins, has been telling me the economic crash we are seeing now is even bigger than that of 2008.
