Two persuasive arguments have been mobilised against the current enthusiasm of government and opposition, and many commentators, to “go for it” in the upcoming budget. The first dissent was articulated by John FitzGerald in The Irish Times three weeks ago: The economy is so close to full employment that any reflationary effort by the Government would be futile and that the under-employed resources to be mobilised by budget giveaways are just not there. Seamus Coffey, the chair of the Fiscal Advisory Council, highlighted the risk of a reversal of fortunes given the known record of volatility in Ireland’s small and…

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