Friday 28 July 2017

Noonan damned by Budget choice

The poor October exchequer returns, which showed that tax revenues were 0.7pc behind target for the first 10 months of the year, confirm anecdotal evidence of a renewed slowdown in the domestic economy following signs of a brief recovery earlier in the year.

The exchequer returns came only days after the most recent figures from the CSO showing a 0.6pc fall in retail sales for September.

What the exchequer returns and retail sales figures seem to confirm is that a slowdown in overseas markets, upon which we rely to sell our exports, is rapidly feeding through into the domestic economy.

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