It’s time to make the super-rich pay their fair share

IN March, Finance Minister Brian Lenihan stated in the Dáil that the full cost of bailing out Anglo Irish Bank would require €22 billion from the state. All indications now suggest that much more will be required.

Last June, Mr Lenihan revealed that €58 bn in long-term bank debt and €16.4bn in short-term debt fall due to be repaid before next October.

The national debt is increasing rapidly and the cost of government borrowing is increasing as a result.