Preparing for economic shocks is more important than a tax cut

Cliff Taylor: Stripping out big multinationals presents a different picture of the economy

 New figures by the CSO show  the domestic economy is continuing to grow strongly as people are spending more. Photograph: Getty Images

New figures by the CSO show the domestic economy is continuing to grow strongly as people are spending more. Photograph: Getty Images

Now you see it. Now you don’t. It appears we are not earning as much as a country as we thought we were. When it produced the 2015 figures for economic growth the Central Statistics Office stunned everybody by estimating that growth had run at over 25 per cent that year.

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