This week has brought a slew of economic data and indicators that don’t paint a pretty picture.
- The Irish Times
On Tuesday the exchequer figures showed that the pandemic had punched a €21 billion hole in the public finances.
Remarkably (given that the jobless rate is running at 20.4 per cent) income tax receipts were down only 1 per cent.
Fortunately, we are able to borrow at negative rates from bond investors – the National Treasury Management Agency raised €5.5 billion this week – to…