Cowen’s chance to engage with voters and possibly save the exchequer a fortune

TAOISEACH Brian Cowen needs to mobilise public opinion if the exchequer deficit is to be tackled and the shoots of economic recovery are to yield jobs, stability and opportunity.

During the first six months of this year our national debt has increased by €9 billion and the amount of interest paid on it has increased by 20% between June 2009 and June 2010.

Interest now accounts for more than 15% of all tax revenue, up from 11.5% a year earlier. When the state had tax revenue of almost €46bn in 2006, the Government spent €44bn.