Menu
05/10/2011
Irish Economy Predicted To Grow 1%
A forecast from Central Bank has predicted that the Irish economy will grow at 1% this year.
The State’s economic advisors have revised and increased their figures to levels first suggested at the start of the year following fears of double-dip recession earlier in the summer.
Growth in the first half of the year was so strong that emerging evidence of a slowdown in the international economy in the second half will not tip the Irish economy back into negative territory.
However, the bank has revised its growth estimate for next year downwards by a 0.25% to reflect much weaker demand in Ireland's main trading partners in 2012.
It has also been suggested that the value of Irish-owned business will fall again.
The Central Bank claim that unemployment crisis will peak this year at 14.2% before edging back slightly to 14% by the end of next year.
Meanwhile the report said the precise economic out turn for 2011 will determine how much money the Government cuts and saves in Budget 2012.
Speculation has centered on a savings figure anywhere from €3-4bn.
Amidst this Social Justice Ireland (SJI) has published an alternative budget for Ireland’s Government cuts.
They believe their alternative will save the Government €3.6bn, without damaging the poor and vulnerable.
SJI wants to increase the tax take by €2 for every €1 cut from public services.
It also wants a programme to create 100,000 part-time jobs for the long-term unemployed, an increase in all social welfare rates, and a levy of 2.5% on corporate profits.
SJI said that the plan is fully costed and it has warned the Government that any other type of budget in December will likely provide short-term gain but long- term pain.
(LB/BMcC)
The State’s economic advisors have revised and increased their figures to levels first suggested at the start of the year following fears of double-dip recession earlier in the summer.
Growth in the first half of the year was so strong that emerging evidence of a slowdown in the international economy in the second half will not tip the Irish economy back into negative territory.
However, the bank has revised its growth estimate for next year downwards by a 0.25% to reflect much weaker demand in Ireland's main trading partners in 2012.
It has also been suggested that the value of Irish-owned business will fall again.
The Central Bank claim that unemployment crisis will peak this year at 14.2% before edging back slightly to 14% by the end of next year.
Meanwhile the report said the precise economic out turn for 2011 will determine how much money the Government cuts and saves in Budget 2012.
Speculation has centered on a savings figure anywhere from €3-4bn.
Amidst this Social Justice Ireland (SJI) has published an alternative budget for Ireland’s Government cuts.
They believe their alternative will save the Government €3.6bn, without damaging the poor and vulnerable.
SJI wants to increase the tax take by €2 for every €1 cut from public services.
It also wants a programme to create 100,000 part-time jobs for the long-term unemployed, an increase in all social welfare rates, and a levy of 2.5% on corporate profits.
SJI said that the plan is fully costed and it has warned the Government that any other type of budget in December will likely provide short-term gain but long- term pain.
(LB/BMcC)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
20 April 2004
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
28 July 2009
Consumer Confidence Rising, Says Bank
A new NI-based survey has revealed a significant reduction in the number of people who are pessimistic about their anticipated financial position over the coming year. Local consumer confidence rose to its highest level in 10 months in June suggesting that economic stability is helping to shed some of the recessionary gloom.
Consumer Confidence Rising, Says Bank
A new NI-based survey has revealed a significant reduction in the number of people who are pessimistic about their anticipated financial position over the coming year. Local consumer confidence rose to its highest level in 10 months in June suggesting that economic stability is helping to shed some of the recessionary gloom.
10 August 2016
Economy Minister Wants To Transform NI Into Globally Competitive Economy
Economy Minister Simon Hamilton has said that he wants to transform Northern Ireland into a globally competitive economy. The Minister made the comments during a visit to Moore Concrete Products Ltd in Ballymena.
Economy Minister Wants To Transform NI Into Globally Competitive Economy
Economy Minister Simon Hamilton has said that he wants to transform Northern Ireland into a globally competitive economy. The Minister made the comments during a visit to Moore Concrete Products Ltd in Ballymena.
09 April 2010
Growth Expected 'From Third Quarter'
Ireland's Central Bank has said today it expects the economy to enter a period of growth beginning from the second half of this year.
Growth Expected 'From Third Quarter'
Ireland's Central Bank has said today it expects the economy to enter a period of growth beginning from the second half of this year.
25 June 2002
Trade Minister sets out three year economy plan
Devolution has given us the opportunity to refocus our strengths and work towards ‘Becoming a Modern Economy’, Sir Reg Empey the Minister for Enterprise, Trade and Investment, said today. The Minister was launching his Department’s new Corporate Plan 2002 –2005, the first since he took office in December 1999.
Trade Minister sets out three year economy plan
Devolution has given us the opportunity to refocus our strengths and work towards ‘Becoming a Modern Economy’, Sir Reg Empey the Minister for Enterprise, Trade and Investment, said today. The Minister was launching his Department’s new Corporate Plan 2002 –2005, the first since he took office in December 1999.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
