Seanad debates

Tuesday, 27 May 2003

Sustaining Progress: Statements.

 

Senator Mansergh and a number of speakers made reference to those who constantly talk down the economy. It is interesting to go back over the Sunday newspapers for the months of November and December last when all the great commentators gave their views on the economy. I am talking in particular about the people who forecast increases in inflation and so on. Five months later, only one of those commentators has proven to be right, that is Davy Kelleher McCarthy. The Dublin footballer got it right about inflation. Our view in the trade union movement, and on the Government side, based on the information before us, was that there were deflationary pressures which would bring down inflation and that is proving to be the case.

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