Deficit disaster

MOST commentators focus on the €25bn Anglo Irish black hole. Of course it’s bad, but it’s a one-off.

The real disaster is our self-inflicted annual recurring €20bn fiscal black hole. Accumulate this deficit over a few years and the Anglo figures will look like small change.

In spite of all the so-called tough measures, the deficit has grown this year and the proposed €2bn cut in current expenditure in 2011 is derisory.

Our income this year will be a little more than €30bn and our public sector pay bill is a whopping €20bn. This lunacy is only sustainable in the fantasy land of the Croke Park deal. In reality the public wage bill must be cut by 50% if we’re to have any chance of survival. I hope that at least one of our Brians wakes up before we hit the rocks

Dick Keane

Glenageary

Co Dublin