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.
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