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


More Articles

hibernia famine diary
Famine Commemorations Around the World

The drive to commemorate the Great Famine and the global legacy of Irish immigration is swelling to massive...


hibernia famine diary
Boston Irish Fight Today’s Famines

After building a $1 million memorial park last year to commemorate the 150th anniversary of the Irish Famine,...


Hibernia People

Il Papa Meets Il Bono “Holy Father, this is Mr. Bono — he’s a pop singer.” With these words the...


Growing Unrest in
Northern Ireland

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