In 1977, Fianna Fáil was elected into power as a result of bribing the electorate by abolishing household rates and motor taxation. In doing so, it deprived local authorities of much-needed revenue for housing and road repairs which led to councils having to borrow funds.
Prior to the last general election, Brian Cowen was minister for finance. He failed to take hard measures when the financial position of the country was going downhill, despite economists like David McWilliams, Jim Power, Alan Ahearne, to name but a few, calling on him to do so.
To do so would have meant votes lost in the coming election and the chance that Bertie Ahern wouldn't have won his third election in a row. Again, Fianna Fáil put party before country.
John McGuinness
Blackrock, Co Louth