Our economy needs ‘SSIA in reverse’ scheme

THE Irish economy needs an SSIA scheme in reverse that rewards consumers who spend rather than save, according to Bloxham stockbrokers.

Bloxhams Irish Quarterly Economic Outlook for July 2011 forecasts that the Irish economy in GDP terms will grow by less than 1% despite the slowdown in the world economy.

Bloxham chief economist Alan McQuaid said the slowdown in the world economy couldn’t have come at a worse time for Ireland given the importance of the manufacturing/export sector to the country’s recovery prospects.