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Monday 5 December 2022
Liz Truss has admitted the Government caused ‘disruption’ of the markets, but insisted they were right to act.
The Prime Minister defended Chancellor Kwasi Kwarteng’s measures, despite admitting the Government’s decisions have been ‘controversial’.
It comes after the International Monetary Fund called on the UK government to ‘reevaluate’ its tax-cutting strategy.
Six protests are being held in cities and major towns across the country over cost-of-living.
The latest Stability Programme Update – which wasn’t expected until Monday – cuts growth projections from 1.3pc to 0.7pc.
The next Stability Programme Update is due out next Monday – but Michael Noonan remains insistent that we’ll meet our targets.
Hayes said a proposed €400million in cuts “would harm the economy” as it struggles to regain growth.
The Irish Fiscal Advisory Council says the Budget’s projections for economic growth may have been too ambitious.
Ulster Bank also says we could be presented with the need for a mini-Budget, but advises against introducing one.
NEW RESEARCH FROM the Competition & Consumer Protection Commission (CCPC) has revealed that the average person expects to spend close to €1,200 on Christmas this year.
It’s an increase of 20% on the expected spend among consumers last year, while households with children are due to spend close to €1,600, an increase of around €200.
Price increases were cited by 73% of consumers as the reason for increased spending this year, while a want to ‘make Christmas extra special this year’ was also a key reason for 42% of shoppers.
So today we want to know: How much do you plan on spending for Christmas this year?
Share your story: voices@thejournal.ie
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