The Senate might be abolished...in Ireland

A general view of Leinster House which houses the Seanad chamber, also known as the upper house of the Irish parliament, is pictured in Dublin, Ireland, on October 2, 2013. 

Ireland is voting on a potentially money-saving proposal on Friday to abolish the upper house of the country's parliament. 

The chamber in question has relatively weak power, says Austin Hughes, chief economist at KBC Bank. The amount of money that would be saved is quite limited -- about 10-20 million euros a year -- and Hughes says the savings would just cause a small dent in the country's deficit. 

"In the context of a government deficit that this year is around 12 billion euros, arguments about 20 million euros seem very, very unimportant."

Austin Hughes, chief economist at KBC Bank, joins Marketplace Morning Report host David Brancaccio to discuss. 

About the author

David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio

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