Madam, - As the election approaches, the electorate is constantly being reminded of the debt of gratitude we owe the current coalition Government for the success of the Irish economy.
That economic success has been built largely on the growth in commercial activity in Ireland, which has been fuelled by two main factors: the lowest Corporation Tax rate (12.5 per cent) in the industrialised world, introduced by Ruairi Quinn as Finance Minister in the Rainbow Coalition, and historically low interest rates, which are determined by the European Central Bank.
The latter has also helped to maintain the frenetic activity in the residential housing market, sustaining high employment in that sector and hugely boosting revenue receipts of VAT and stamp duty.
While those major drivers of economic success have had little to do with the current Government, things which are their direct responsibility - such as the health service, transport, the suppression of crime - are all in a chaotic state. Major initiatives such as decentralisation, bench-marking and electronic e-voting have demonstrated a breathtaking level of incompetence.
The Government has been awash with money, which it has thrown at every problem area where it perceives there might be votes. It has bought industrial peace in the public service at enormous current and future cost, but has failed miserably to achieve any meaningful reform in associated structures and work practices, which is badly needed to improve delivery of services and extract value for money. It has even managed, every year, to miscalculate the state of the public finances. Luckily these miscalculation, by billions of euro, have been on the positive side of the accounts - to date.
Whatever about lacking experience in government, any alternative administration could hardly be more lacking in competence than the current lot. - Yours, etc,
PETER MOLLOY,
Glenageary,
Co Dublin.