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NERI publishes Autumn Quarterly Economic Observer
Wednesday 26 September 2012, 10am
Economic think-tank proposes ‘Plan B’ Budget focused on investment and creation of 21,000 additional jobs
The Nevin Economic Research Institute will publish its Autumn Quarterly Economic Observer on Wednesday 26th September. The economic think-tank’s ‘Budget for Growth and Equality’ would maintain 2012 spending levels while increasing taxes on high income and high wealth groups by €1billion , investing in jobs and infrastructure and reversing capital spending cuts.
Commenting on the publication, NERI Director Dr Tom Healy pointed out that an alternative budgetary strategy is possible within the terms of the Troika targets on government deficit and debts.
“The choice between taxes and spending is ours to make. Most people have already taken enough in cut to public services and wages along with increased charges. What we need instead is a strategy that invests in growth and begins to address the huge shortfall in taxes paid at the very top end of the income distribution.”
“Such a strategy is not only equitable but also makes economic sense. In our Quarterly Economic Observer, we show how our proposals are likely to result in 21,000 more jobs than under the Government’s proposed consolidation – while still meeting the Troika’s deficit target”, Dr Healy concluded.
To read the full report click here
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