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The economic history of the Republic of Ireland effectively began in 1922, when the then Irish Free State won independence from the United Kingdom. [2] The state was plagued by poverty and emigration until the 1960s when an upturn led to the reversal of long term population decline .
From 1945 to 1960 Ireland missed out on the European economic boom across Europe, and 500,000 people emigrated. A major policy change followed the issue of TK Whitaker's economic model in 1958, and the Republic slowly embraced the industrial world. Most Irish exports continued to go to Britain until 1969.
Ireland had also become a base for US technology multinationals. By 2014 (see table), Apple's Irish ASI subsidiary was handling €34bn annually of untaxed profits (20% of Ireland's 2014 GNI*). The EU forced Ireland to close the "double Irish", [182] but it was replaced (Apple's "capital allowances" and Microsoft's "single malt"). [183] [184]
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
DUBLIN (Reuters) -Ireland dipped into one of Europe's few budget surpluses to fund higher-than-usual spending hikes and tax cuts, ease energy costs for firms and consumers and set cash aside in a ...
Of the 35 OECD members in 2017, the average Irish single-worker cost 27.2% in taxes versus the OECD average of 35.9% (ranked 29th–lowest), and the average Irish married worker cost 10.8% in taxes versus the OECD average of 26.1% (ranked 31st–lowest). [b] [11] [12] Irish employee tax rate (single and married) versus the OECD in 2017. [11]
The average American 65 years of age and up earns an annual pre-tax income of $55,335, and that same group spends $52,141 yearly, or $4,345 a month, according to the Bureau of Labor Statistics (BLS).
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