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.

Major Government initiatives such as decentralisation, benchmarking and e-voting have demonstrated a breathtaking level of incompetence.

The Government has been awash with money which it has thrown at every problem area where it perceives there might be votes. It has bought industrial peace in the public service at enormous cost but has failed to achieve meaningful reform in associated structures and work practices.

It has even managed every year to miscalculate the state of the public finances. Luckily, these miscalculations, by billions of euro, have been on the positive side of the accounts — to date.

Whatever about lacking experience in government, any alternative administration could hardly be more lacking in competence.

Peter Molloy

9 Haddington Park

Glenageary

Co Dublin