Duncan’s Economic Blog

Very quickly…

Posted in Uncategorized by duncanseconomicblog on April 7, 2009

… I have been somewhat remiss in not posting for a few days. I have been rather busy. I owe Tom a post on pensions which is in the works.

But I’m suddenly wondering, will the Tories be congratulating our Irish cousins this evening?

The Irish Republic has unveiled its second budget in six months to deal with its sharply contracting economy.

The emergency budget includes higher taxes and a reduction in spending, to boost the public finances.

I don’t see this ending well.


2 Responses

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  1. tim f said, on April 7, 2009 at 3:54 pm

    In what sense will these measures “deal with” a contracting economy?

    • duncanseconomicblog said, on April 7, 2009 at 3:58 pm

      You raise a fair point Tim!

      Other than making it worse?

      Particular ‘highlights’ include cutting the dole by 50% for under 20s, means testing child benifit and forecast that the econoy will shrink 8% this year.

      But on the ‘bright side’ they aren’t raising corporation tax…

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