Labour outlines economic direction

LABOUR Party leader Pat Rabbitte yesterday said that limited borrowing and greater tax revenues may be needed to fund improvements in public services and infrastructure investment.

Unveiling a major policy paper outlining his economic vision, Mr Rabbitte said much of the resources needed will come from economic growth.

However, he said given the scale of infrastructural investment required in Ireland, “it will be appropriate to borrow limited amounts to fund capital spending, rather than squeezing current spending on public services as at present”.