‘Little or no scope’ for income tax cuts in budget, says ESRI

Think-tank urges Coalition to avoid overheating economy but plays down fears of house-price bubble

 Taoiseach Leo Varadkar during the official opening of AWS (Amazon Web Services) offices on  Burlington Road, Dublin, on Monday, where he  indicated that avoiding overheating in the economy would be a major priority of the budget. Photograph: Gareth Chaney Collins

Taoiseach Leo Varadkar during the official opening of AWS (Amazon Web Services) offices on Burlington Road, Dublin, on Monday, where he indicated that avoiding overheating in the economy would be a major priority of the budget. Photograph: Gareth Chaney Collins

The Government has been warned by the State’s economic think tank there is “little or no scope” for cutting income taxes in the October budget.

The Economic and Social Research Institute in its latest commentary has urged the Coalition to avoid stoking an economy that is showing signs of overheating, and also to keep a close eye on credit growth.

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