Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
BUSINESS LOBBY GROUP IBEC has heralded Ireland’s “spectacular” economic growth figures as it predicted jobs would soon rebound to levels last seen in early 2009.
The group doubled its growth forecasts for the year and is now predicting GDP will increase 6.1% in 2014, up from the 3.1% figure it flagged in its last quarterly update.
It said Ireland had the fastest-growing economy in Europe and it predicted GDP would be up 4.5% next year.
IBEC, which counts most of Ireland’s big businesses and multinationals like Microsoft and IBM among its members, has used the bullish forecast to call for an end to austerity budgets when the government delivers its financial blueprint next week.
“There is no need for another austerity budget, the focus instead should be on creating a better environment for job creation,” the latest outlook said.
IBEC’s optimistic forecasts follow the Central Bank’s positive, but more conservative predictions on Friday.
The state bank pencilled in economic growth of 4.5% this year, significantly higher than its last quarterly forecast of 2.5% for 2014.
IBEC also upped its projections for next year’s growth to 4.5%, ahead of its previous 3.9% prediction.
Cut taxes to create jobs
The business group continued its pitch to government to cut employment taxes and “put more people back to work”.
IBEC chief economist Fergal O’Brien said tax hikes had pushed the country’s top marginal tax rate “way out of line with our international competitors” at 52%.
“Ireland is firmly on the way back and this gives the government options on Budget day,” he said.
Other business groups such as the Irish Small and Medium Enterprises Association (ISME) have lobbied for the government to cut the cost burden on employers to help them take on more staff.
Unemployment figures have been slowly edging down from their peaks above 15%, although the Central Bank is predicting the jobless rate will stay above 10% until at least 2016.
READ: We should cap how much people can borrow or risk another property bubble
READ: €2.1 billion: That’s how much extra the government could have to play with now
To embed this post, copy the code below on your site
Can only mean one thing, the clear blue skies are about to cloud over
Always the way with these events!
Okay, one last time Dougal, that comet is small…
No actually is far away… ;)
Do I get a better view if i watch it from the direction of North Korea
People could be killed and ye think nothin better than to make joke. You make me sick
Didn’t they claim they made it a while back?
NK football chant ….We will nuke you we will score we will eat your Labrador
always a joke with you lot
Hi Michelle ;-)
David Moore and his so called Club have a cheek, is a front for his Buisness selling overpriced telescopes.
Well he’s not forcing you to buy one
No he is pretending its a club, he is unelected.
Binoculars will do the job either. I’m testing my bino’s by reading this from a distance and I think you have some spelling and grammatical errors in your post. Not that it’s any of my buisness :-)
Fair play to him
David Moore is doing a great thing for the “Community” of astronomers here in Ireland. Nice guy too!
Apparently you can see Uranus too. Have to look deep though…
Hardy har har.
Haha that is so funny ^_^
Small? That thing is so big it makes my eyes burn. Oh, never mind… The sun hasn’t set yet!
Head off to bed Leonard , ur drunk mate!!!!
It’s not there now!
Actually saw this last night as i was in west cork for a few days and i live in the middle of nowhere you could say so no street lights no noise.. Was looking up and saw such a beautiful galexy and milkyway and this big bright star in the middle of it and was wondering what it was… Was so nice to see without having bincolrs or telascope… Wish i could stay in the country for so much longer as you don’t see much starlight in a city
PANSTARRS, i love that show :)
have your say