Paschal Donohoe rejects claims economy is overheating

Finance Minister Paschal Donohoe has rejected European Commission concerns that Ireland’s economy is at risk of overheating, claiming the country will have more jobs than people available to work them next year.

Speaking at the National Economic Dialogue conference in Dublin Castle as it emerged an unpublished European Commission report has warned the Government not to cut USC due to the risks this poses to the economy, Mr Donohoe said Ireland’s finances are in a healthy position.

Asked about the European Commission’s latest post-bailout programme surveillance report’s warning that scrapping USC and a series of other Government plans risk overheating the economy, Mr Donohoe said the recovery is firmly in place.