ECONOMIC STATISTICS FOR LEAVING CERT 2017(Source of information CSO website) Ec

1. UNEMPLOYMENT Unemployment – 6.2% (April 2017). This is lowest since May 2008. This

is well below the European average of 9.5%. Full employment (3-5%) is predicted by the end of 2018.

No’ of people on live register – 135,800 (annual decrease of 47,300) These figures are the lowest since May 2008. Youth Unemployment (15-24 year olds) – 12.9%

2. INTEREST RATES ECB – 0.0% (April 2017) Ireland has no control over interest rates

3. INFLATION CPI – 0.9% (April 2017). Inflation is increasing month on month The ECB price stability threshold or ideal rate is “just below but close to”

2%. Currently (April 2017), Inflation in Europe is averaging at 1.5% The cost of living in Ireland is increasing slightly This is due to decreasing prices of transport (higher petrol and diesel prices

due to increase in the price of oil, higher air fare prices), restaurants & hotels (food and drink prices increasing), miscellaneous goods and services such as insurance and healthcare

4. ECONOMIC GROWTH Expected Growth for 2017 – 4% Debt to GDP ratio – 75% (60% is the E.U guideline). This means as a

nation, we still have high levels of personal debt. However this has fallen from 120% to 75% in just 3 years thanks to increasing GDP.

National Debt - €203b We are the fastest growing economy in the EU Ireland’s Balance of Payments is in Surplus (April 2017)

5. TAXATION PAYE Rates – 20% & 40% USC – 0.5% on income up to €12,012. 2.5% up to €18,772, 5% up to

€70,044 and 8% above this VAT – 23% (Standard Rate) / 13.5% (Reduced Rate) /9% (Hospitality &

Tourism sector) Corporation Tax (CT) – 12.5% D.I.R.T – 39% Capital Gains Tax (CGT) – First €1270 is exempt. Rest is charged at 33% Capital Acquisitions Tax (CAT) – 33% Local Property Tax (LPT) – 0.18% of the value of a property. Replaced the

household charge

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