News from Ireland: Irish Government Curbs Inflation

By Irish America Staff
October / November 2000

As Irish inflation approaches 5.5 percent, three times the European average, the Irish government has launched a crackdown. Irish prime minister Bertie Ahern has ordered government ministers to inform bodies under their supervision to postpone increases.

Banks and building societies have been targeted in the effort to control price increases. Finance Minister Charlie McCreevy has called on financial institutions to freeze professional fees for the next six months. This follows Health Minister Michael Martin’s refusal to allow the national health insurance company, VHI, to increase its subscriptions by nine percent.

The country’s politicians may suffer as well. Their application for a 28 percent pay raise may now have to be put on hold during the government’s anti-inflation crusade.

The weak euro, high oil prices, and a massive increase in tobacco prices imposed by the government to curb smoking are blamed for the high inflation rates. ♦

Leave a Reply




Share



More Articles

Growing Unrest in
Northern Ireland

April 17, 2021 By Deaglán de Bréadún Concern has been growing in Ireland, north and south, that the Troubles...

More

Joe Biden in Carlingford, Co. Lough, June 25, 2016. Photo: Rollingnews.ie
NEWS FROM IRELAND:
The U.S. Election, Brexit, and Handling the Pandemic

By Deaglán de Bréadún On a happy note, there has been a general welcome in the Republic and among...

More

Hall of Fame:
Patrick Doherty, The New York Official Who Uses Investment Power to Promote Human Rights.

New York Official Uses Investment Power to Promote Human Rights Patrick Doherty recalls one of many St. Patrick’s...

More

Hall of Fame:
Kathleen Murphy on Family, Faith, Fidelity, & Financial Independence.

It may be an over-used chestnut at times, but that “there is no ‘I’ in team” is still a popular phrase in the...

More