Economic outlook - People have had enough austerity

According to Goodbody Stockbrokers, no new austerity measures will be required in the next budget for the Government to hit its deficit target of less than 3% of GDP.

That should be good news for all of us — but only if the Government is listening to reason and common sense and not slavishly committed to following the diktats of the troika.

In its quarterly economic commentary, Goodbody said water charges will bring in about €500m, leaving the Government room to introduce measures to improve growth, such as an increase in capital spending and a cut in income tax.