Ireland ‘must work relentlessly’ to recover

THE National Economic and Social Council (NESC) has called for the establishment of a Strategic Investment Bank, saying it would be “a key step” towards providing finance for business investment.

Ireland ‘must work relentlessly’ to recover

The latest report from the body — which advises the Taoiseach on economic policy — said that while there are signs of economic recovery, Ireland needs to continue to improve its underlying debt dynamics in order to sustain and “deepen” its recovery. It said Ireland needs to “work relentlessly” to revive sustainable growth and must focus on export growth, along with rebuilding the tax base.

“Taxes shouldn’t constrain economic growth and activity. More revenue should be generated through taxes — such as well-designed property tax and water charges,” the organisation said.

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