Government Achievements on the Economy (April 2017)

Economic & Social Overview

We have Restored a Strong Economy

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           Jobs

·       206,000 jobs have been created since the Action Plan for Jobs in 2012.

·       Unemployment rate is down to 6.4% from a peak of 15.1% in 2011.

·       Wages have increased in most sectors in the last year.

image001                                                   Growth

·      We were the fastest growing economy in Europe in 2015 & 2016 (GDP).

·   While GDP data can be problematic for Ireland, consumer spending is a reliable domestic statistic and it grew by 3.0% in 2016 and 4.5% in 2015.

To Support a Fair Society

A  Regional Recovery

·      Disposable income (after tax) is increasing in every region (2014 data).

·      Employment has increased in all 8 regions since Action Plan for Jobs.

·      Over 2/3rds of new jobs in the last 12 months were outside of Dublin.

·      We published 8 Regional Jobs Plans as part of a €250m strategy.

A Fair

Recovery

· €5 p.w. increase in social welfare: pensions, jobseekers (JB&JA), carers’ allowance, disability allowance, and one parent family payment (2017).

·   USC & Income tax cuts targeted at low and middle income workers (benefits are capped at €70,000 salary).

·    Increased the minimum wage by 20%, from €7.65 to €9.25.

·   Ireland is more equal & poverty is decreasing (decrease in ‘Gini co-efficient’, consistent poverty, at risk of poverty & deprivation, in 2015).

·    Core weekly social welfare rates were protected during consolidation.

Investing in

Our Future

·   A new ‘Single Affordable Childcare Scheme’, from Sept 2017, which provides both universal and targeted subsidies towards childcare costs.

·     Completed the roll-out of the 2nd free pre-school year.

·     Introduced 2 weeks of paternity leave from September 2016.

·    2,400 extra teaching posts in schools, including 900 resource teachers.

 

 

image001              Public                         Services

 

· We commit to an extra €6.75bn current spending on public services, using the proceeds of a strong economy.

·   We commit to €5.1bn extra capital spend, above the €42bn capital plan.

·  Employment in the health sector increased by over 8,000 in the last 2 years; with over 80% of this increase in front line activities.

Government Achievements Overview

Economic Overview February 2015