Dr. Conor O'Toole
speaker
41 appearances
1 recordings
1 series
first heard Sep 2025
last heard Sep 2025
Dr. Conor O'Toole’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
We've seen nominal wages rise for a number of years now.
And because inflation is moderated, we are getting that rise in real incomes.
And that's one of the reasons why we feel that domestic economies continue to perform robustly, because households continue to have that expenditure power from the rising real wages.
No, I guess our concerns around the public finances are really twofold.
Firstly, as I said, the labour market is operating really at capacity.
And, you know, when you have an economy that's operating hot like that, you really don't want to inject too much firepower into it.
And certainly we feel the current levels of expenditure that are talked about in the current package for Budget 2026 are
are too much for the domestic economy at the present time.
But also with the public finances, we have to remember that within the headline surpluses that we were projecting, there is that windfall element from the corporation tax receipts.
And really, we would like the government to try and close the public finance deficit when you were just away from that windfall element.
Yeah, so our colleague, former colleague John Fitzgerald did a research note that accompanies the commentary, really looking in depth at what is the current state of the pharma sector, what would the potential impact of this US 15% tariff be.
I guess to summarise all of that research, one, it's a pretty profitable sector, it's a relatively robust sector, so the 15% should be carryable in terms of output and employment.
But
it will eat into margins, which could risk profitability, which then in turn may risk the corporation tax receipts from the sector.
So employment and output probably be able to weather in the near term this economic shock, but profitability could be hit and that can be impacted on the corporate tax take.
I guess it's difficult to kind of look at the dual pricing element and wonder what the spillover effects are going to be.
Certainly, you know, the farmer sector is very profitable and the prices are high going into the U.S.
And, you know, there is a differential pricing between the EU and the U.S.
for similar products.
if there's kind of a relocation of capital to the US, if those prices begin to come down, firms may look at their margins and try and raise margins elsewhere if they're under pressure in certain places.
Showing 21–40 of 41 · page 2 of 3
← Previous
Next →