Bloodbath on stock exchanges – fiscal space is shrinking
€4 billion was wiped off the Irish Stock exchange yesterday. You probably never knew there was so much wealth or paper wealth here. The chances of a new global recession are growing by the day. Talk of a ‘fiscal space’ is becoming just fantasy economics.
We need to re-distribute the wealth – so that we do not end up carrying the cost of another crash. That means voting for a party that will tax the rich – make them pay their full corporation tax; take the €18 billion in back taxes from Apple, and stop people like Denis O’Brien designating themselves as ‘tax exiles’.