Thursday 8 December 2016

The boom time party is back, baby - but nobody wants to raise a glass just yet

The economists are telling us that things are back on track - but no one seems to be sharing that particular love

Published 02/08/2015 | 02:30

'The economists are telling us that things are back on track - but no one seems to be sharing that particular love'
'The economists are telling us that things are back on track - but no one seems to be sharing that particular love'

We're back, baby! Spending is up, unemployment is down, there's cranes in them there skies and the sale of obscenely priced designer bags is at an all time high. Before you know it you'll be buying up apartment blocks in Croatia and trading in the old Toyota for a new Merc. What? You're not feeling it? No trickle down effect? Not even a little tinkle in your waters? Nothing? Ah, come on.

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Last week the latest CSO statistics showed that our gross domestic product (GDP) is up by a whopping 6.5pc (there's no need to mention Eurostat) and we have the strongest growing economy in Europe. So, in today's Sunday Independent/Millward Browne Poll one of the questions we asked you was: Do you feel personally better off, worse off or in the same situation as you were in this time last year? The result? Only one-in-six of you said that you felt better off this year. That's a measly 16pc. And - in what will come as a bit of a blow to a Government trying to persuade us that things really are getting better - a rather large proportion of you, 40pc to be precise, are feeling distinctly worse off than you did last year.

But then, between 2008 and 2014 we've suffered about €30bn in cuts and tax hikes. That's about €6,500 per person (or just under what Ryanair boss Michael O'Leary earns in a day). Many people are still paying off Celtic Tiger debts at post-crash salaries, so it's hardly surprising if you're not persuaded to change the weekly shop at Lidl for something more upmarket anytime soon, is it?

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