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GDP of 3pc will not be reached – Whelan
19.10.2010
Nobody believes that Ireland can reach a target of 3pc GDP by 2014, economics professor Karl Whelan told an audience at an Irish Taxation Institute meeting last night.
Whelan also warned that if the International Monetary Fund (IMF) interfered and established its own four-year plan, it could be worse than anything the people of Ireland could imagine.
The Professor commented on the taxation policies in Ireland and agreed that the country’s time as a low-tax economy was gone. He added that he believed a property tax was a good idea and stamp duty should be abolished to “prompt” activity in the property market.
On public sector reform, Whelan (pictured) said there was no need for reports as the Government were not serious about the matter.
Each party should come up with its own budget to deal with the deficit and then an election should be held prior to the official budget being held, continued Prof Whelan. Other members of the panel, including Feargal O’Rourke of PricewaterhouseCoopers agreed.
Secretary general of the ICTU David Begg and William Slattery of State Street Ireland also spoke to the meeting.