Sir, - It has now become outrageously clear that the PPF in its present format is redundant. With economic growth rates in excess of 10 per cent double the rate envisaged under the PPF, and with inflation running at 6.2 per cent is it any wonder the present position is no longer tenable?
Inflation is the main cause of concern at the moment, but since the PPF was negotiated a number of other issues have caught our attention: the continuing fall of the euro, the emergence of the US as our most important trading partner, and the decision my Mr McCreevy to move the income-tax year.
Mr McCreevy would need to be a "magician" if he believes he can sort out this mess with the December Budget. - Yours, etc.,
Michael Killeavy, Clonminch Lane, Tullamore, Co Offaly.