George Hook has spoken about his past financial difficulties and how debt nearly led to the end of his marriage.
The high profile pundit told the Irish Mirror that many couples can't cope with money troubles, as the cost of living crisis worsens in Ireland. Hook, 81, opened up about his past debt and how to almost caused a split with his wife Ingrid.
He says he thinks the looming recession will put pressure on many relationships: “Debt is corrosive to marriage. It was hugely damaging to my relationship. We survived it only just. There will be marriages undergoing enormous stress because of this.”
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Discussing the current cost of living issues in Ireland, the ex Newstalk presenter thinks many people would be better off on social welfare, saying "the balance has utterly tipped" and he believes a recession is inevitable.
The former RTE commentator, who lives in south Dublin, admits that in the 1980s, he was "to all intents and purposes, bankrupt". He says financial strains can often result in serious mental health problems, especially for men
Hook said: “It has a very damaging effect on men. It goes back to the cave – the tradition of man as provider. Being unable to pay your way has a disastrous effect on men. The effect is dramatic on the mental state.”
Like fellow commentator Eddie Hobbs and businessman Ben Dunne, he believes a recession is coming. He added: “We are seeing massive inflation. As sure as night follows day, recession follows inflation. How do you cure inflation? There is only one fix. It has been proven through the centuries –recession”
Hook also thinks Sinn Fein will be voted into Government in the next election. However, he thinks the party will not be able to fulfil their promises.
“We’re going to see them in charge on the basis of promises which, in my view, cannot be met. You’ll get an enormous amount of BS from Sinn Fein, but in reality recession is the only magic answer. You can’t cut taxes without cutting public spending. Sadly the current Government is trying to match SF in promises. But they have to tell the country the truth.”
Hook admits that he is wealthy today and fears that the future finance minster under a Sinn Fein Government, Pearse Doherty, will be looking to take a lot of money out of his pocket.
He added: “Sinn Fein say, ‘tax the rich’. I am convinced Pearse Doherty’s first act as finance minister will be to come to my house and start looking for my money. He’ll say, ‘George Hook has a pile of money and I’m going down there and taking it off him’.”
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