Introduction The context for this year's Budget differs sharply from most of those in the past decade and a half. The global economy has been buffeted by crises in financial markets. Oil prices, even after recent falls, are at very high levels. Furthermore, the sharp decline in housing activity...

Contents Introduction Frances Ruane Chapter 1. Tax Reform: Selected Issues Tim Callan, Claire Keane, John R. Walsh 2. The Recession, Budgets, Competition, and Regulation: Should the State Supply Bespoke Protection? Paul K. Gorecki 3. The Future of the EU Budget: Irish Perspectives Alan Matthews

This paper examines recovery scenarios for the Irish economy. It estimates that the growth rate in potential output is 3% a year. This takes account of a permanent loss of output of 10% of GDP as a result of the recession. On this basis, and taking account of government fiscal action this year...