IBEC: Govt can hit budget targets with €200m adjustment

IBEC: Govt can hit budget targets with €200m adjustment

Employers group IBEC says the Government can hit its budgetary targets with adjustments of just €200m.

That compares with the €2bn adjustment favoured by the Government.

In its pre-budget submission published this morning, IBEC says cuts to income and consumer taxes, and increased investment will kick-start Ireland's recovery.

Chief Economist at IBEC Fergal O'Brien thinks the latest Exchequer figures have created room for manoeuvre.

He said: "We still have double digit unemployment rate. I think we cannot afford to waste another year in not helping to do more to get those people back to work.

"By having a growth-enhancing budget you grow the overall size of our tax revenue, grow the overall size of the economy, put people back to work quicker and that's how you get the deficit down and that's how you outgrow your debt."

More in this Section

UK stock markets pause for breath after plummeting on coronavirus fearsUK stock markets pause for breath after plummeting on coronavirus fears

UK warned it faces ‘tough road ahead’ as red lines drawn ahead of trade talksUK warned it faces ‘tough road ahead’ as red lines drawn ahead of trade talks

Battle lines drawn for Brexit trade talksBattle lines drawn for Brexit trade talks

Capitalism in need of rethink, Bank of England chief economist saysCapitalism in need of rethink, Bank of England chief economist says


Lifestyle

Kya deLongchamps advises us to research, plan and keep our heads during online auctionsHow to keep your head during an online auction

Columnist and trained counsellor Fiona Caine offers guidance to a woman who’s growing resentful of her widowed mum’s needy behaviour.Ask a counsellor: My mother is so clingy since losing my dad – what can I do?

Amid all the uncertainty, this year’s London Fashion Week has quietly set about its task of asking how women will dress for the decade ahead, writes Paul McLauchlan.The trends you'll be wearing next season - from London Fashion Week

More From The Irish Examiner