Madam, – I would like to propose a constitutional amendment, which for the future, would enshrine in our written Constitution the legal prohibition of any government spending that would lead to a budget deficit for Ireland.
In particular, I would propose that such an amendment specifically forbid the State from approving spending that would necessitate tax increases later. Ireland would operate under an annually balanced budget because of spending restraint, not economy-damaging tax increases. This amendment could be approved now by referendum, and written to come into effect from 2013 or 2014 when our State books might finally be balanced.
Such a constitutional requirement would make it much easier for Irish politicians to resist interest group pressure, as the State could not legally provide for spending that would in the future contribute to a deficit. State actors would also have to be mindful of the deficit-creating threat that a future economic downturn could bring, if fiscal prudence were not rigorously enforced as a permanent national practice. – Yours, etc,