Dáil debates
Wednesday, 1 February 2012
Public Finance Strategy
10:30 am
Michael Noonan (Limerick City, Fine Gael)
The reason was that all the transactional taxes coming from the property industry were part of the cycle and were not a permanent feature of the tax system. That all disappeared and they left this huge deficit. When considered in those terms, structural deficits and structural surpluses are easier to understand.
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