Stephen Collins: Brexit crisis gave Donohoe way to lower expectations

Avoidance of profligacy a fine template for dealing with future corporate tax fall

Minister for Finance Paschal Donohoe: managed to achieve broad political consensus by framing his 2020 budget on the basis of a no-deal Brexit. Photograph: Nick Bradshaw

Minister for Finance Paschal Donohoe: managed to achieve broad political consensus by framing his 2020 budget on the basis of a no-deal Brexit. Photograph: Nick Bradshaw

A notable feature of the British election campaign, apart from the lies and the poisonous atmosphere, was the promise by both leading parties to end austerity by undertaking vast and uncosted spending programmes. This will inevitably end in tears, either with a raft of broken promises or a collapse of the public finances.

Whatever about the routine shenanigans in Leinster House, politics in this State has been a haven of sanity in recent years by comparison with our nearest neighbour. This has been underpinned by the remarkable turnaround in the country’s finances since the financial crash a decade ago for which Fine Gael, Fianna Fáil, the Labour Party and the Greens all deserve a share of the credit.

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