Social divide - Poverty at the heart of our economy

CONTRASTING faces of Ireland’s economic success are outlined today in reports showing that while the economy is heading for a soft landing, the gulf between rich and poor is growing at an alarming pace.

Prophets of doom and gloom, who tend to predict a crash landing for the Irish economy, are wide of the mark judging by the latest quarterly bulletin from the Central Bank.

While the bank concedes economic growth will slow down over the next 18 months to 4% in 2008, it goes on to point out that despite its modest growth rate, Ireland’s economic expansion over that period will still be strong by international standards.