Tuesday 17 October 2017

Economic 'Golden Age' on horizon... if we can get our house in order

While income is rising, in order to get a real kick taxes, and particularly income taxes, have to fall. This will mean at some stage taxing the least productive asset in the country: property. There’s no other way. Stock picture
While income is rising, in order to get a real kick taxes, and particularly income taxes, have to fall. This will mean at some stage taxing the least productive asset in the country: property. There’s no other way. Stock picture
David McWilliams

David McWilliams

Did you know that Limerick has seen the biggest jump in income in the past decade? Not Dublin. Limerick.

After-tax income in Limerick rose by 14pc between 2005 and 2015, according to the CSO. This is a huge figure given the collapse in incomes experienced across the country during the crash and the extent of extra tax increases over the past decade.

A few years back, after a wonderful Saturday morning spent in Limerick's Milk Market, this column made the unfashionable case for Limerick. It always seemed to me that Limerick got an unfair rap, and in 2014 it appeared that Limerick had so much going for it and would be well placed to benefit from the recovery.

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