Markets News Afternoon: Economist says Irish public finances correction can only be achieved by combination of modest tax increases and significant cutbacks in public expenditure
Nov 24th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Markets news on stocks, currencies and oil; The immediate imperative must be to arrest the deterioration in the public finances and this can only be achieved by a combination of modest tax increases and significant cutbacks in public expenditure. Delaying this adjustment is not an option and would lead to eventual bankruptcy, according to Jim Power, chief economist, Friends First, speaking at the launch of the Friends First Quarterly Economic Outlook in Dublin today.