McCarthy on fiscal correction - advice to Scotland

Slí Eile02/02/2010

Slí Eile: Never shy to expound, economist Colm McCarthy, of Bord Snip fame imparted wit and neo-liberal orthodoxy last week in Edinburgh. See an account of his address here. (Does anyone have the full text somewhere?) He declared:

It’s getting public opinion and the opposition parties and the broadsheet media on board and getting them to accept and understand that we’re not doing this for fun, that we’re in a hole and that the quicker we start dealing with it the better and that there has to be a fiscal consolidation and all this kind of stuff.
Looks as if this approach had a large measure of success in 2009 - except that the fiscal deficit is still hanging where it is and the prospect of more deflation, more unemployment and more spending cuts will see to a continuing debt trap.

Posted in: Fiscal policy

Tagged with: fiscal consolidation


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