Let's hope the Budget doesn't force a brain drain
Published 06/12/2010 | 05:00
We are in the strange position today of knowing the broad content of the next four Budgets. For example, we know that by 2012 the average household will be worse off by almost €400 per month, primarily via additional taxes and charges. This is roughly the equivalent of a €7,500 per annum reduction in salary.
Add to this the expected increases in mortgage interest rates, coupled with the gradual phasing out of tax relief for such interest, and the long-term outlook is bleak for many.
It is easy to see how the above statistics could result in a mass exodus from these shores. To counter this, we are going to need a combination of strong leadership and a sustained period of growth.