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Property tax fears

THE property tax is already impacting on consumer confidence, UCD research has found.

The Consumer Market Monitor for the first financial quarter shows a slight drop in consumer confidence occurred in February and March 2013.

This was due to concern about the impact of the new property tax and pay cuts on household finances. "Consumer spending accounts for over 60pc of GNP in Ireland and is a critical factor in driving any recovery of the economy," said Mary Lambkin, Professor of Marketing at UCD Smurfit School.