Last week, the year-to-date economic performance for Ireland was discussed with the Taoiseach at a Joint Committee on Finance, Public Expenditure, Public Services Reform and Digitalisation. At the meeting, Minister for Finance, Paschal Donohoe discussed the current trade tensions, de-globalisation, developments and outlook for the Irish economy and the Government’s policy response.
In the opening statement, the Minister said:
“Despite trade, geopolitical and other headwinds, incoming data confirm a strong start to the year. Looking ahead, however, the outlook for this year and next is dominated by uncertainty. Against a backdrop of de-coupling, the priority must be to double-down on our ability to attract high value-added investment and jobs to our country.
Earlier this month, my department published its spring forecasts, as part of the Annual Progress Report. The key message from our analysis is that uncertainty is prompting households to increase precautionary savings and prompting firms to delay, or even postpone, investment”
Details of the annual progress report and our related commentary can be read in a previous Tax Newsletter item.
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