A united Ireland would cost €20 billion every year for 20 years, a new study suggests.
The report, by the Institute of International and European Affairs, said such an expense would require an increase in taxation of around 25% and/or a significant reduction in expenditure.Unification would add around 5% of modified Gross National Income to the Irish Government's deficit, according to the study.
This would add a quarter to public expenditure in Ireland , while producing a very limited increase in revenue. "Even though Ireland has a much higher national income, funding the needs of the people of Northern Ireland in a united Ireland would put huge financial pressure on the people of Ireland, resulting in an immediate major reduction in their living standards," report co-author and Co-Chair of the Institute of International and European Affairs Economists Group Professor John FitzGerald said.
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