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Welcome growth in Exchequer Returns, but Government spending plans must be matched against sustainable revenue

Dec 02, 2015

The Exchequer Returns released today (02/12/15) are extremely positive for the Irish economic recovery. The Exchequer surplus of €343 million at end-November 2015 is well ahead of Government estimates.

Ian Talbot, Chief Executive Chambers Ireland, commenting on the figures said, “The Exchequer Statement for November is very positive news and demonstrates exceptional economic performance. It is particularly encouraging to note that this performance is not limited to the multinationals, with an 8.6% increase in VAT returns indicating strong consumer confidence and increasing domestic demand.”

“However, it is imperative that Government does not fall into a trap of overextending State spending based on current trends. Our economy is still vulnerable to many external factors. It is important that Government match spending commitments with sustainable broad based tax revenues”.

                                                                         -Ends-

For further information contact Susan McDermott, Chambers Ireland on 01 400 4331, 086 6081605 or email susan.mcdermott@chambers.ie.

Chambers Ireland – Ireland’s largest business network creating the best environment for members locally, regionally and nationally.

 

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