Cliff Taylor looks at a new report from the Department of Finance and how Ireland's younger generation may end up with end up paying higher taxes.
There is one thing for sure reading the Department of Finance’s Future Forty long-term outlook published this week.
More money is going to be needed to run the State in the years ahead.
Government spending will have to rise significantly as a share of the economy, as an ageing population requires healthcare, and pensions and bills are paid to fund climate change and massive infrastructural spending.
A significant hole is likely to open up in the public finances. The question is who is going to pay?
The risk is that the bigger burden is likely to fall on those entering the jobs market now or in the coming years, who have a lifetime of income tax paying ahead of them. And this is the generation already suffering the worst of the housing crisis where, as the report points out, demand is likely to continue to outpace supply for years to come.
For now, the public finance
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