McCarthy defends Bord Snip report

The author of the Bord Snip Nua report has defended its recommendations this afternoon.

Colm McCarthy said that borrowing must be contained over the next 12 months and spending significantly reduced in order to stabilise the economy

Speaking at the MacGill Summer School in Glenties today, Colm McCarthy said the current Government borrowings of €400m a week is unsustainable, even in the short term.

Mr McCarthy said he understood that people were concerned about a lot of the recommendations for public spending cuts, but denied targeting any one area.

“The responses to the publication of our report last week have included accusations that we have targeted certain areas,” Mr McCarthy said.

“As far as I can make out, spokespersons for every single Government department have said that they were targeted, and they're right - we looked at everything with no red lines and no areas that have purposefully been exempted.”