Failure to implement EU Directives correctly and in time leads to significant costs. The most recent illustration of this is the Waterford Crystal pension’s case. We need to put a process in place to ensure that the transposition of Directives is done competently and in time.
A short presentation on migration, employment and labour market participation delivered by Cormac O’Sullivan at the first annual NERI Labour Market Conference on May 1st 2013
Categories : Budget and Troika,Our Analysis,Supply-Side Reform
This note assesses recent evidence on the incentive to work. It discusses the measures by which economists gauge work incentives and outlines the results of various empirical studies. Despite a relatively generous welfare net and the costs associated with working, most of the evidence suggests that the majority of unemployed people would be better off in a job.
Categories : Income Distribution,Our Analysis,Supply-Side Reform
This report contains a detailed statistical and economic analysis of the tax systems of the Member States of the European Union, plus Iceland and Norway.
The report also contains indicators of the average effective tax rate falling on consumption, labour and capital, as well as data on environmental and property taxation and on the top rates for the personal and corporate income tax.
Country chapters give an overview of the tax system in each of the 29 countries covered, the revenue trends and the main recent policy changes. Detailed tables allow comparison between the individual countries and European averages. Data cover the 1995-2011 period and are presented both as a percentage of GDP and as a percentage of total taxation
Categories : Budget and Troika,External Analysis,Taxation
Presentation by Mr John Martin, Director for Employment, Labour and Social Affairs, OECD at Launch of OECD Review of the Irish Pension System, 22 April, 2013.
How much debt is too much? The answer to such a simple question would obviously be of great use to policy makers who struggle to make decisions under great uncertainty
Eurostat publishes Maastricht returns which show that Ireland's General Government Deficit in 20012 was 7.6 % of GDP. The forecast for 2013 is 7.4 % of GDP.
Categories : Budget and Troika,Debt & Deficits,External Analysis
The Social Inclusion Monitor reports progress towards the national social target for poverty reduction. It is primarily based on the findings of the Survey on Income and Living Conditions 2011, undertaken by the Central Statistics Office. The focus of the Monitor is on social and economic outcomes as they relate to poverty and social exclusion
Categories : External Analysis,Income Distribution
This document presents a social impact assessment of the main welfare and direct tax components of Budget 2013. In 2011, all social transfers reduced the at-risk-of-poverty rate from 51 per cent to 16 per cent
The report assesses the Department of Finance's official macroeconomic and budgetary projections in the context of Budget 2013 and the forthcoming Stability Programme Update. The report also considers the appropriateness of the fiscal stance over the period to 2015, and looks at Ireland's compliance with the fiscal rules legislated for under the Fiscal Responsibility Act.
Categories : Budget and Troika,Debt & Deficits,External Analysis
The author describes how EMU design failures contributed to the European financial crisis, and proposes a redesign of the EMU that includes fiscal and banking unions.
Categories : Budget and Troika,External Analysis,Financial Crisis
Regional GDP statistics adjusted for purchasing power parity. While Southern and Easter Ireland is among the leading 25 regions, the Border, Midland and Western region is below average. If GNP were used for Ireland instead of GDP, Ireland would fall from 3rd place in the country rankings to 11th.
Categories : External Analysis,Income Distribution
The authors discuss the options for a banking union in Europe, highlighting the need for common regulation, a supranational resolution authority, centralised deposit insurance and some form of implicit fiscal backing
Categories : Budget and Troika,External Analysis,Financial Crisis
Report of a sub-committee on penal reform recommending a ‘de-incarceration’ strategy that aims to reduce the prison population by one third over a ten year period
The gap between current Government spending and revenue as measured by the General Government Deficit in 2012 was over €13 billion (8.2 % of GDP). We are committed to reducing this deficit under the EU Excessive Deficit Procedure to below 3 % by 2015. The pay and pensions bill accounts for 35 % of Government spending. If public sector pay and pensions were to be fully protected, the burden of adjustment would have to fall on non-pay current spending, capital spending or increases in taxation or some combination of these. While these items will have to bear a share of the necessary adjustment, putting the total burden of adjustment on these items would be either more economically damaging or socially regressive than putting some of the burden on pay and pensions. The proposed reductions in incomes over €65,000 are clearly progressive. However it is difficult to assess the impact of the reductions in overtime, premium pay and other allowances as the incidence of these will vary considerably in individual cases.
This looks at the draft public service pay agreement and concludes that most alternative measures to the proposals are likely to be more socially regressive or economically damaging.
This short note from the Institute of International Finance compares and contrasts the recent economic fortunes of Ireland and Greece. Ireland’s relative success comes not just from its larger export sector and improved competitiveness, but also a gentler pace of fiscal consolidation and lower multiplier.
Categories : Budget and Troika,Debt & Deficits,External Analysis
The Irish government has published the draft heads of a climate bill. Because we won’t know the essence of what is proposed until we see the national and sectoral roadmaps that will follow, it is not possible to draw definitive conclusions as to the sense and effectiveness of what is proposed.
Attached is an article from the Irish Times of 19 March 2013 proposing that the means test for third level student grants should take account of capital assets.
This report looks into the background to property taxation in Ireland and assesses why the introduction of such a tax is necessary at present. This report also describes how the Local Property Tax is calculated, how it is paid and possible benefits or drawbacks that may arise as a result.
Categories : Local Government,Our Analysis,Property Tax,Taxation
This paper surveys the benefit system in Ireland. It provides detail on social payments as a percentage of GDP, GNP and overall government expenditure and it compares the benefit system in Ireland to that of the UK.
Categories : Income Distribution,Our Analysis,Public Expenditure,Supply-Side Reform
The Report by the Expert Commission on the Funding of Domestic Public Water Services in Ireland has been submitted on schedule to the Joint Oireachtas Committee on the Future Funding of Domestic Water Services.
Irish Water has made significant progress in a short period. Abolishing Irish Water and removing domestic water charges would be a mistake and set back the prospects of having water services fit for a modern economy.