Economic success not due to Government

AS the election approaches, we are constantly reminded of the debt of gratitude we owe Government for the success of the economy.

That success has been built largely on growth in commercial activity, fuelled by two main factors: the lowest corporation tax rate (12.5%) in the industrialised world, introduced by Labour’s Ruairí Quinn as finance minister in the last rainbow coalition, and historically low interest rates, determined by the European Central Bank.

While those drivers of economic success have had little to do with the Government, things which are its direct responsibility — such as the health service, transport, gun and drug crime — are all in a chaotic state.