Business News

50,000 will find a job as economic growth surges

The numbers at work will jump by 52,000 next year, with unemployment dropping below 10pc for the first time in six years.

The Economic and Social Research Institute (ESRI) has also predicted the economy will grow 3pc this year – much faster than the 2.1pc estimate from the Department of Finance.

Last night Tanaiste Joan Burton said that it was “quite possible” that the Government could hike its growth rate ahead of the Budget.

DP deficit in 2015 will require only a small amount of additional austerity measures, if any at all.”

It comes just a day after the latest Exchequer returns showed the State’s finances were more than €500m off target for the first seven months of the year.

Income tax and Vat receipts are both better than expected, while the deficit is almost €800m smaller than predicted at the Budget.

Finance Minister Michael Noonan has again promised a softer budget if the tax trend continues.

Overall, the tax take is 2.5pc or €548m higher than expected so far this year.

Public spending is below target, but overruns in health remain an issue, running €273m over-budget.

Article Source: http://tinyurl.com/kbwqb42

< Back to Business News