The economy is reopening, but certain sectors will feel the pain worst. Photo: Sam Boal/RollingNews.ie

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What’s next for the Irish economy? Yes, we can borrow to fund the recovery, but we will also have to increase taxes

In my evidence to the Oireachtas Covid-19 committee, I explained that we must consider tax rises to bridge the €30bn deficit and fund a €20bn stimulus. In a crisis, all bets are off, and all avenues of revenue-raising should be considered.

18th Jun, 2020 - 8 min read

On Wednesday, I gave evidence to the Oireachtas Special Committee on Covid-19 Response. Along with Alan Barrett, Karina Doorley and Barra Roantree from the ESRI, I made a few points about where I see the economy going, and what I think the crisis response should be, in policy terms. You can read or watch the evidence here, and my submission, written last Friday, is here.

Two things I said grabbed the headlines. First, the deficit estimate (some...

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