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Monday, 21st September 2020
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Economists urge restraint Back  
Following the publication this month of OECD statistics that show Ireland‚€ôs tax take as a percentage of GDP rising among the fastest in the OECD area last year, a panel of Ireland‚€ôs leading economists polled in this month‚€ôs FINANCE urges spending restraint, particularly in current expenditure. The OECD tax study shows that tax as a percentage rose by over 1 percentage point of GDP last year, rolling back over a quarter of the progress achieved in Ireland in reducing tax as a percentage of GDP over the past fifteen years.

But, responding to a survey in this month‚€ôs issue, Ireland‚€ôs leading financial services economists are keen that the Minister shouldn‚€ôt abandon the country‚€ôs infrastructure programme and that some borrowing isn‚€ôt necessarily a ‚€ėbad thing‚€ô.

Possible Government intervention - or lack thereof - in the property market is also on the agenda, and while some economists say that the Government shouldn‚€ôt engage in artificially propping up either house prices or building activity, the majority argue that intervention is necessary, with timing a key consideration. See also pages 4,5.

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