The Tánaiste and Fine Gael leader, Leo Varadkar outlined on RTE’s PrimeTime how Irelands €219 billion National Debt does not have to be paid back.
During the Primetime interview, Miriam O’Callaghan asked Mr Varadkar when will fiscal restraints come back this year or next year?
Mr Varadkar responded that “nobody knows for sure, we’re borrowed about €19 Billion last year, we’ll probably borrow something similar this year.”
He continued, “and you know the way National Debts work, it’s not money that we have to pay back as such, but is money we have to re-finance at a certain point.”
The Fianna Fail, Fine Gael and Green Party led Government borrowed €19 Billion in 2020 and expect to borrow another 19 Billion in 2021 according to Mr Varadkar on PrimeTime.
Before the Bankers bailout, Ireland’s National debt was steady at around €50 Billion for a number of years, it now stands at €219 Billion and rising.
The National debt is currently €47,000 for every man, woman and child in the country.
Tell us your thoughts in the Facebook post and share this with your friends.