Jul 13, 2005

Lower taxes in Ireland for low paid.

RTE Business - Today in the press: "Tax burden on low-paid is 'lowest here' - Ireland levies the lowest tax burden on low-paid workers among the Organisation for Economic Co-operation and Development (OECD) countries, a new report from the organisation revealed yesterday. The Irish Independent says that the report on the euro area economies states that the labour market structure in the zone needs to be overhauled if more jobs are to be created. However, Ireland comes out on top in key areas such as the tax burden and social security contributions, which in some countries have acted as a disincentive for employers to hire more workers. The report also backs the stance of the European Central Bank on interest rates as the bank bids to fend off political pressure for lower eurozone interest rates. The OECD's statement that it would be reasonable to leave rates at 2% coincided with statements by ECB Governing Council members that high oil prices posed inflation risks and interest rates were at appropriate levels.

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