Looking at various economic forecasts out this week, it was interesting to see the struggle among commentators torn between pride that the Republic remains without doubt the economic tiger it does and dread at the prospect of continuing high inflation.

The one point of consensus emerging is that redemption is increasingly out of the hands of the workforce. Unless employers and the State can somehow manage to persuade more people to return to work, our progress is going to be undone.

The alternative is immigration and for all the good work being done by FAS in trying to induce people to return/come to work in Ireland, it seems certain not enough will do so. Much of the reason for this lies in the very prosperity that might be presumed to attract them. This same prosperity has seen the cost of living rise beyond the means of the very people we want.

This is particularly true of housing. Despite three Bacon reports and a generally accepted slowing of the rate of increase in property prices this autumn, property purchase remains an unattainable dream for many. Renting is equally difficult with a diminishing supply of property at anything but the highest level and rents rising to match heightened demand.

We did not need the OECD, the ESRI or the EU Commission to point these things out to us.

They have long been apparent to anyone willing to open their eyes and ears. Unfortunately, it seems that those who make such decisions have become blinded by the glare of top-line growth figures.