Surviving the recession
Dear Madam
It is impossible to escape the doom and gloom of the current economic troubles. Job losses are inevitable, home repossessions are threatened, business are cash strapped and for those who do manage to keep their jobs, pay cuts are on the way.
However, I think the media are playing a dangerous game with public moral. Of course bad news makes for better headlines, but I think that an equilibrium and less sensational reporting would make for better and balanced reading.
Overall, employment in Ireland increased faster than either the EU or US averages between 2000 and 2008 and is now running at circa 93%. Consider the situation for those in employment; interest rates have dropped consecutively by half a percentage point for the last four months and more cuts are likely. Oil prices have dropped significantly meaning it's cheaper to run a car or heat a home. Energy prices are falling so domestic utility bills are falling. For anyone looking to get on the housing market, house prices have been slashed and banks are giving 92% mortgages despite reports to the contrary.
We have the third lowest rate of corporation tax in the EU, free education, public healthcare, a high minimum wage and an excellent social welfare system.
Yes we have to cut back on careless spending and reduce our personal debt. We will have to work a little harder or indeed may have to re-skill and enter a new occupation. But a recession does not last forever nor is it the end of life as we know it. We will not starve or sleep beneath the stars. Heaven forbid, but we may end up a more caring and involved society and the recession may actually do us some good!
Anne Marie Nolan
Fianna Fil Candidate in the Ballymahon Electoral Area
Portanure, Newtowncashel, Co Longford.
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Weather for Longford, Ireland
Friday 10 February 2012
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Light rain
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