Minister insists he is getting balance between spending and saving the current tax windfall right
“The central challenge that Minister [Paschal] Donohoe, and I, and the Government face is to get the balance right on October 10th – provide an appropriate amount of support for our society and economy without pushing inflation in the wrong direction,” he said.Earlier this week both the Central Bank and Ifac warned the Government’s spending plans had the potential to destabilise the economy and keep inflation higher for longer.
Despite facing significant shocks, the Irish economy had proven to be remarkably resilient over the last number of years, noting there were 2.64 million people now employed in the State, an all-time high and an increase of 88,000 on an annual basis. “We are essentially at full employment,” Minister McGrath said.He was speaking as data from the Economic and Social Research Institute indicated that the Irish economy was continuing to grow strongly despite an international slowdown.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Makhlouf warns against temptation for big hike to bank levyCentral Bank governor councils against hiking levy substantially even as bank profits surge
Read more »
Government’s planned big spending budget could fuel inflation, Central Bank warnsThe Central Bank forecasts inflation will average at 5.4 per cent this year, but will decline to 3.2 per cent and 2.3 per cent in 2025
Read more »
Accountancy firm Azets hires former Deloitte Africa partner and ex-Central Bank adviserCompany formerly known as Baker Tilly Ireland has ambitious growth plans
Read more »
Central Bank governor calls for ‘much faster’ pass-through of rate hikes to borrowers and saversIrish banks have so far lagged behind peers across the wider euro zone in passing on official rate hikes to households
Read more »
IFAC budget warning, ESB sees cheaper energy bills and managing your home insuranceBusiness Today: the best news, analysis and comment from The Irish Times business desk
Read more »