Emmet Oliver: We're in a mess, but at least it's not getting any worse
Published 05/05/2011 | 05:00
THE new Government -- in power less than two months -- must still be wondering what kind of economy it has inherited.
On the one hand, it is an economy in horrendous shape, with a crippling deficit running at almost 11pc of GDP and an unemployment rate of 14.7pc, one of the highest in Europe.
On the other, the economy will actually grow this year -- albeit marginally -- and exports are very buoyant, with February's figures hitting a three-year high. Now, we are learning that tax receipts have also stabilised as recent increases kick in.