# "Richard Bruton warned about the dangers of pro-cyclical budgets"



## Brendan Burgess (2 Mar 2011)

Fionnan Sheehan has an interesting article in today's Irish Independent under the heading 
*Political reality is that few politicians were demanding lower spending*


> [broken link removed]'s [broken link removed],  in particular, warned on an annual basis about the dangers of  pro-cyclical budgets, where spending continued to rise dramatically and  there was an over-reliance on taxes from the property market.
> 
> 
> 
> ...



I think that this is a very important issue. I have the impression that FG and Labour roared on the high spending policies of the government. 

Back in June 2009, I heard Willie Slattery, the Chief Executive of State Street Investments praising Richard Bruton at a conference in Dillon Eustace as the only politican who had called things correctly. I was surprised at the time and tried to find some evidence of this, but couldn't then either. 


Assuming it's correct, it's the type of independent thinking and dissenting voice we need in Irish politics. I didn't notice it at the time. But maybe it got lost in the clamour of calls for more spending. 

Does anyone else remember Bruton calling for such cutbacks?


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## horusd (2 Mar 2011)

Yes Brendan, I recall him making the point a number of times over the yrs. On another thread it was pointed out that he is the only economist in the Dail, and indeed had done his thesis on the Irish National Debt.


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## Brendan Burgess (2 Mar 2011)

Thanks 

I have found that here. 



> Bruton has a masters in economics from Oxford and did his thesis on  Irish public debt.


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## csirl (2 Mar 2011)

http://en.wikipedia.org/wiki/Richard_Bruton

Wikipedia have a synopsis of his qualifications which I believe is accurate:

"Richard Bruton was born in Dublin, and grew up in Dunboyne, County Meath. He is the son of Joseph and Doris Bruton.[1] He was educated at Belvedere College, Clongowes Wood College, University College Dublin and Nuffield College, Oxford.[5] At Oxford he graduated with a MPhil in Economics,[5] his thesis being on the subject of Irish public debt.[1] He is a Research Economist by profession,[6] and after university he worked at the Economic and Social Research Institute. This was followed by two years in the tobacco company P.J. Carroll before moving on to his final private sector job at CRH."


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## csirl (2 Mar 2011)

[broken link removed]

The following is taken from the above politics.ie thread - gives some extracts from Brutons dail speaches in response to Brian Cowens budget speaches when Cowen was Minister for Finance:



> Here are a few extracts from the responses by *Richard* *Bruton* to every *budget* speech delivered by Brian Cowen as Minister for Finance. There is plenty of other stuff in the speeches about public sector reform and general waste. But the theme i'm highlighting here is competitiveness, the export industry, the very foundations the Celtic Tiger (1987-2001) was built on, and the impact of the construction bubble.
> 
> *Budget 2005*
> 
> ...


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## Brendan Burgess (2 Mar 2011)

Thanks 

The original link brings you to the politics.ie home page for some odd reason 



[broken link removed]


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## Brendan Burgess (2 Mar 2011)

From Bruce Arnold in The Irish Independent  July 5 2008



> Mary Coughlan seemed to be giving notice that the last thing the  Government will do is listen to good advice and take it. That is what  they got from Richard Bruton, a serious and dedicated political  economist and probably the most gifted politician in the Fine Gael  party.
> 
> 
> He has monitored the economic life of Ireland with care and  objectivity since well before that other storm-trooper, Brian Cowen,  took over from Charlie McCreevy, and presided over the old age of the  Celtic Tiger.
> ...


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## Brendan Burgess (2 Mar 2011)

I have read through that thread. I see that Bruton did argue that the financial position was unsustainable. But I don't see any evidence of where he stood up and shouted where the cuts should be. 

His [broken link removed]speech is worth reading but he seems to bemoan public spending cuts: 



> The axe has fallen on many of the discretionary schemes that might give real value to ordinary families.
> 
> 1. Childcare Grants have been cut.
> 2. The Primary School capitation has been cut in real terms.
> ...


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## csirl (2 Mar 2011)

Brendan Burgess said:


> I have read through that thread. I see that Bruton did argue that the financial position was unsustainable. But I don't see any evidence of where he stood up and shouted where the cuts should be.


 
Bruton has been a long time advocate of reducing public spending by making government smaller - things like the abolition of the HSE and other quangos and making Government Departments leaner and meaner.


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