Northern Ireland Executive has been ignoring the financial crisis since 2007

In the BelTel, Liam Clarke has an excellent summation of just how Stormont’s Executive got itself into this mess: The origins of the crisis lie in 2007, the final year before the property crash, when the Executive parties agreed a number of eye-catching giveaways. Water rates were set aside, at a current cost of £180m a year; our leaders held regional rates down, giving us the lowest household taxes in the UK, and there were also free prescriptions for everyone …

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