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Warning economy close to overheating; think tank recommends taxing the rich

Warning economy close to overheating; think tank recommends taxing the rich

There is a warning the economy is close to overheating.

A leading think tank says the outlook is positive but that Brexit could do significant damage.

This analysis is from the Nevin Economic Research Institute and it is good news overall.

The economy is expected to grow by 4.6% this year and 3.3% next year.

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But that all depends on how Brexit works out, with the report saying no deal would do significant damage to the economy both sides of the border.

On the jobs front, they're expecting an extra 70,000 to be hired this year while wages should also go up by around 2%.

The institute recommends residential property taxes not going up by as much as they are now.

It also says taxing the rich could be looked at and describes a wealth tax as an attractive option.

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