Budget 2023 heralds a new era of “big government”, Newstalk Breakfast’s Shane Coleman has said.
Yesterday, Ministers Donohoe and McGrath splashed the cash across the economy; contraception will now be free for women under the age of 31, textbooks for primary school children will also be free, renters will get a €500 credit and businesses will get thousands to help with their energy costs.
“We are now in an era of big government,” Shane claimed.
“A lot of the measures are one off, a lot of them aren’t one off.
“We’re spending big on a lot of things and at some point we’re going to have to increase taxes to pay for that.
“And that will not be popular.
“Personally, I think we probably need big government but we’re going to have to face up to how we pay for it.”
'I don't remember a budget where the thrust of it wasn't before some kind of fiscal or monetary policies.' Ciara and Shane reflect on yesterday's budget announcement @NTBreakfast pic.twitter.com/jNDwJjvCqv
— NewstalkFM (@NewstalkFM) September 28, 2022
He also noted that the state has become highly reliant on revenue raised from a small number of international firms:
“Back in 2011, we raised €3bn in corporation tax, we’re now raising over €20bn,” Shane noted.
“Which is great but half of that comes from 10 companies, so we’re very exposed on that.
“If that goes we could be in serious trouble.”
Main image: Shane Coleman
