Strong Exchequer Returns but Any Increases in Public Expenditure Premature

Chambers Ireland has today (02/09/2014) welcomed the strong exchequer returns from August, but cautioned the Government that any increase in public expenditure is premature given our current monthly borrowings. 

Speaking this afternoon, Mark O’Mahoney, Director of Policy and Communications, Chambers Ireland said, “Strong results in the Exchequer Returns indicate an economy that is ready for recovery. The receipts from consumption related taxes are a particularly good omen that confidence is returning to the Irish economy. However, the figures also reaffirm that Ireland is still reliant on borrowing in the region of €800 million every month to cover costs, consequently, general increases in public expenditure are premature.”

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For further information please contact Amy Woods, Chambers Ireland on 014004319, 086 6081605 or email amy.woods@www.chambers.ie