Warning on economy - Fairness is central to any recovery

The European Commission’s assessment of our economy makes for sobering if not dispiriting reading.

It suggests we face, at a minimum, another four years of difficult budgets. In immediate terms the commission predicts a €2.5bn cut in Government spending next year, some 25% more than had been anticipated.

After more than six years of cuts to public services, business closures, something approaching a Biblical exodus from the country, utterly unsustainable rates of unemployment and falling standards of living right across society, this prognosis is daunting. At this stage it would not be unreasonable, indeed it would be entirely human, to hope for a more optimistic outlook. What, after all, was — is — all of the sacrifice for? Even the most sceptical might accept that these figures are a blow to politicians who risked political capital, reputation and electoral prospects by advancing deeply unpopular measures to try to resolve our still-not-fixed crisis.