Ireland’s ‘Great Slowdown’
Amidst the noise of the last budget tax cuts, once-off spending increases, tax bands and social protection rates — there is one projection buried deep in the budget papers that received little attention but which will have considerable implications for the economy and living standards in the years ahead. — The Government is projecting average annual growth rates out to 2030 will be 2 percent. That may not seem all that interesting until we compare it with previous periods of growth. In the boom years prior to the crash, the average annual growth rate was nearly 6 percent.