Sunday 17 December 2017

Antoin Murphy: Strategy paper falls short on ideas we need for sustained growth

An Taoiseach, Enda Kenny, T.D. speaking pictured as Google, which is celebrating ten years in Ireland this year, has invested 5.5 million in The Foundry, its first Digital Innovation Centre in Europe.
An Taoiseach, Enda Kenny, T.D. speaking pictured as Google, which is celebrating ten years in Ireland this year, has invested 5.5 million in The Foundry, its first Digital Innovation Centre in Europe.

Antoin Murphy

Ireland has undergone a five-year financial wake, the last three of which were controlled and monitored by the troika. Now the wake is over and the troika has departed.

New forecasts by IBEC  (2.8pc growth) and the ESRI (2.7pc growth) predict that the Irish economy is entering a new phase offering the prospect of significant growth in employment and greater buoyancy in tax revenues which may forestall the need for further austere measures in the next Budget. As these optimistic forecasts were announced the Government launched its new policy, A Strategy for Growth: Medium-Term Economic Strategy 2014-2020, a document “to point the way to a stable and prosperous future, and away from the failed policies of boom and bust that have cost us so dearly”.

What is happening and will this new strategy deliver?

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