Newstalk Poll – Half of voters claim no benefit from two tier recovery

Published by: Richard Colwell

2016.02.17

While the government keeps extolling the need to “keep the recovery going”,  the reality is that well over half of the population still feel that they haven’t actually felt the impact of any recovery personally.   It is no surprise then that most adults believe that any economic recovery has been on a two tier bases.    This may help explain why public attitudes as to where the government should focus from a budgetary point of view are quite polarised between tax cuts and expenditure on public service and the national debt.   It also clearly underlies the strong levels of interest in helping those who maybe haven’t yet seen the benefits of the recovery, with strong support tax incentives for rural business, tax relief on childcare costs, better long term rental incentives and a review of mortgage regulations to help those trying to get on the property ladder.

Irelands-economy-FINAL

  • Public attitudes as to where the government should focus from a budgetary point of view are quite polarised.
  • In total over half of all adults claim to be in favour of investment in both expenditure on public service (36%) and  reducing the national debt (20%), while the rest are more in favour of reducing the tax burden either through abolishing the Universal Social Charge (33%) or further Tax Cuts (10%).
  • Those in Dublin, from more professional and clerical backgrounds, and older age groups are most in favour of investment, while cuts are more favoured by those in the middle 35-54 year olds aged groups.
  • Just over 2 in 5 claim that they have actually felt the benefit of the recovery, primarily coming from more professional and clerical households, those in younger 18-34 year old age groups and those living in Dublin.
  • It is no surprise as a result that most adults (79%) believe that any economic recovery has been on a two tier bases, particularly among those living in Connaught and Ulster regions of the country.
  • While the perception among many (61%) is that the economic recovery is here to stay for at least the next 5 years, there is some uncertainty around this figure; with only 22% very sure in their belief that it will last the next 5 years.
  • When asked opinions about various possible tax changes or incentives, there is universal agreement that businesses should be incentivised for creating jobs in Rural Ireland – this is the case across all demographics.
  • Measures to promote long term rental agreements are also favourably viewed with 86% believe they should be promoted particularly among those aged 25-34, arguably key renting age groups.
  • While tax relief on childcare costs are also favoured by a significant proportion of all adults (83%), which rises to 87% among those with dependent children.
  • The majority (77%) agree that mortgage regulations need to be reviewed to make it easier to get on the property ladder or trade up – this is especially significant among this core audience of those aged 18-34 and lower social grades.
  • While, extending social housing to 20% of all new developments should also be restored, according to 3 in 4 of all adults, especially those from more working class background and those living in Dublin.
  • There is however much less agreement (36%) with the notion that returning emigrants might receiving a preferential tax rate. However agreement is higher among those potentially more affected, aged 18-24.

Download full report below:

137015 – Newstalk – Economy Poll Report

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