As a nation we need to ensure that we can maintain building skills. I don’t agree with everything Gilmore says … but I am much happier with the idea of borrowing money to build NEEDED infrastructure instead of borrowing money to bail out bondholders (who gambled and lost). As highlighted by other posters this will benefit the people.
Maybe were more like the Easter Islanders with their statues.
In thousands of years the Aliens will come and look at our dead planet.
‘Why did this civilization decide to build 1 bedroom apartment complexes in the middle of nowhere?
Maybe they had some form of Hotel Deity that’s why they built so many empty ones?’
Some of those locals have mouths to feed, and besides there is plenty of room in Ireland for high quality infrastructure projects. Seen the state of some of our schools recently?
How to finance it is another matter but the idea of putting the structurally unemployed back to work with borrowed money sounds a damn sight better than borrowing money to pay off bondholders in Anglo.
Yeah, aside from the usual health/education build, there’s also water and sewage to consider. Given that water charges will be introduced at some stage, borrowing on the back of the expected revenues for water infrastructure could provide cheaper financing than would otherwise be the case. I’d like, though, to see water services largely taken away from the councils to a national or a number of regional companies. Not because they will be nationalised, but because they could be when ‘we’ fuck up again and again it would provide a more credible borrowing entity, hopefully cheapening finance.