Taoiseach ‘regrets’ fiscal policy not more restrictive

TAOISEACH Brian Cowen said he “deeply regrets” the problems facing the country as a result of the property crash and financial crisis but did not apologise and insisted nobody saw it coming.

Following the publication of two damning reports that found Government policies had a crucial role in the “homemade” crisis, Mr Cowen attempted to pass on the blame saying decisions were based on domestic and international projections of economic growth.

He said an increase in spending during the boom years was in response to societal demands and that the opposition parties had argued that the Government was not spending enough.