...Growth in sales hovering at around -- y-o-y since ---- Source: BMI. ...However, any changes to it are unlikely to materialise over the medium term. Reflecting confidence in the stability of the tax rate, US pharma giant Pfizer bought Ireland s Allergan in a USD---bn deal on November --, announcing shortly afterwards that it would base operations in Dublin (to pay Ireland s lower corporate tax rate). US presidential frontrun- ners Hilary Clinton and Donald Trump both pledged to close tax loopholes if elected. ...Ac- cordingly, mortgage lending fell by -.- y-o-y in Q---, the first y-o-y decline in over two years. vate consumption will continue playing an increasing role driving - Business Monitor International Ltd www.bmiresearch.com
...Source: CSO, Eurostat, BMI growth over the coming years. Even though unemployment has been collapsing in recent quarters, rates of employment remain well below pre-crisis averages. ...Corporate tax intake was up by over -- y-o-y in ----, and overshot government estimates by EUR-bn in the same period. As a result, Finance Minister Michael Noonan implemented a ---- budget that includes social security increases and tax reductions, which will add further weight to an already strong private consumption story. will con- tinue benefitting from very favourable external conditions in ----. ...Gross fixed capital formation was up --.- y-o-y in the third quarter of ----, which is reflecting the ongoing impact of this trend.
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