This country owes €215 billion in our national debt. That is €44,065 for every man, woman and child, four times higher than in 2007. Ireland has high personal indebtedness, especially compared to our EU peers.
This is an awful noose around the nation’s neck.
But we cannot make budgetary cutbacks in areas such as homelessness, hospital, capital projects etc. Particularly for those who sleep rough and are in emergency accommodation. The money has got to be found somewhere. Good investment raises future productivity, living quality and tax revenues. The Irish Fiscal Advisory Council has spoken about current spending and not for capital borrowing. Current spend in the October budget is a short-term solution.