THE DÁIL should be halved in size, overseas aid eliminated and the need for a standing Army and a Seanad questioned as part of the effort of getting the economy back on its feet, leading industrialist Martin Naughton has said.
In an interview with The Irish Times, the Glen Dimplex founder and chairman said it is time to cut all “extravagance” from the Republic so that the underlying strength of the economy can be restored.
The Louth businessman and philanthropist, whose company made and sold €1.5 billion worth of domestic appliances around the world last year, believes the State would benefit from a four-year national government but says it is unlikely to happen because “we have plenty of politicians but we have very few statesmen”.
He also says the Dáil is too large. “We should halve the size of the Dáil and question do we need a senate and whether we need a standing army or should we have a militia.”
The Air Corps should be questioned too, he said, while overseas aid should be cut out as long as the Government needs to borrow to pay for running the country.
“In my personal opinion, it’s crazy for the Government to borrow money and then give it away in overseas aid. If I couldn’t support my family, I wouldn’t borrow money to give away to philanthropy.”
He predicts it will take about five years to “rebuild” the economy, with a proposed cut in the minimum wage a good first step in the process.
“We are lucky that we have a very sound underlying economy,” he said. “This has given us a good opportunity to sort ourselves out. I believe there are positives in it.”
Mr Naughton – a former member of the Council of State, which advises the President on constitutional matters – said the Government should steer clear of overtaxing the country’s management classes, who he argues will be needed to help fix the economy. “You’ll get to a point where you could break that class. It’ll now cost you €10,000 more to be working here than to be working in the UK, and they’ll go. It’s a very delicate balance for the Government. That’s where our future lies – in these people.”
