The Irish Economy is on the up but so too is Inflation and Costs
On the first episode of The Budget Briefing, business journalist, Sorcha Corcoran looks ahead to what Budget 2022 will bring and is joined by economist Jim Power, Kevin McLoughlin, EY Ireland’s Head of Tax and Annette Hughes, EY Ireland’s Director of Economic Advisory Services, to discuss what businesses and taxpayers are hoping and expecting in the midst of uncertain times.
With society and businesses opening up again in the wake of Covid and despite the hit to the government finances, tax cuts and pension increases are on the agenda once more, but is it sustainable? And what of housing, transport and the SME sector? How will they be affected after the Minister for Finance’s budget speech on October 12th?
“This budget is something that is going to be very challenging,” Annette Hughes explains on the show. “The increase in inflation might limit the scope to which the government can start to increase taxation given that inflation is already rising and the costs of living is rising…I think really important for me is that we don’t jeopardise the future generations with high levels of debt. So it’s about having a medium term, sustainable, economic growth trajectory and ensuring the debt is well-managed and sustainable over the next number of years.”
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The Budget Briefing is in association with EY Ireland.
Credit to : Independant