Thanks Brendan. It would be great if you could specify how soon you want to get to €50bn and how.Hi Coyote
The "how soon" is very difficult to answer. But we must start cutting it now while we are in such a temporarily healthy economy. It's clear that we could not get back to the €50 billion of debt we had in 2007 in ten years.
But we should realise that we cannot continue to increase it every year because our economy is artificially growing.
This has been the problem in the debate. Almost everyone agrees with the Fiscal Council, but no one will specify how the cuts will be made.
I've said fiscal balance should be about 3bn greater at the moment. Personally I would get there by raising LPT, increasing VAT on some low- and non-rated items, reducing child benefit, cutting subsidies to universities (make them raise fees), and increasing employers' PRSI by a few pp.