Further IT jobs losses could have a ‘very severe’ impact on state’s tax returns, McGrath warns

IT sector now contributesone euro out of every seven euro collected in tax, according to the Minister for Finance

Michael McGrath, the Minister for Finance. Picture: Fergal Phillips

Michael McGrath, the Minister for Finance, has warned that a downturn in IT jobs could have “very severe implications” for the public finances.”

His comments come after a series of high profile job cuts in large, multinational tech firms, the most recent of which was announced last month when Accenture revealed plans to axe 890 jobs.

There are around 173,000 people working in IT jobs Ireland, who account for roughly 10 per cent of income ...