Introducing a measure that will benefit hospitality businesses that need it least, such as McDonald's, is economically illiterate. Photograph: Scott Olson/Getty Images
With budget day fast approaching, senior Government figures have been filling the airwaves and column inches setting out their stall.
Among these are Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers, who have been preaching the virtues of “ prudent management of the public finances ”.
After five years during which permanent spending net of tax changes has risen by almost 10 per cent per year on average, a Damascene conversion to such prudence would be welcome.
All the signs, however, are that this conversion is illusory and more of an Augustinian plea: grant me prudence, Lord, but not yet.
According to the Government’s published plans, spending next year will increase by around €8 billion while tax cuts will reduce
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