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McDonald responds to Central Bank projections

25 September, 2012 - by Mary Lou McDonald TD

Speaking in response to the Central Bank projections released today Mary Lou McDonald said:

“The Central Bank projects that it will take another five years after 2015 for the economy to meet its Austerity Treaty deficit target of 0.5%. What the report does not say is the level of additional adjustment that will be required to meet this target.

“The Central Bank seems to have very optimistic growth projections for the period from 2016. In the absence of such high growth rates the only way these targets can be met is with more tax hikes and spending cuts.

“Sinn Féin argued throughout the referendum campaign that the Austerity Treaty targets would lead to more austerity post 2015. There is nothing in today’s report that alters our view on this matter.”


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