Cillian Sherlock, PAA recent report which suggested that a united Ireland would cost €400 billion is “widely inaccurate”, a leading academic has contended. For example, it includes the full cost of both state debt and pensions, currently paid by the UK, and which are part of the UK subvention figure. “This is not a question of the debt being waived, as the IIEA report suggests. He told the committee that the opening deficit for Northern Ireland in a United Ireland would be €1.5 billion, taking account of debt, pensions, defence and tax changes. “An increase in the underlying growth rate in Northern Ireland, of 2 per cent above recent long-term patterns would see the costs of transition covered, and the fiscal deficit ended in approximately 10 years, after which Northern Ireland would run a surplus.

Source: The Herald May 23, 2024 19:04 UTC