[meglome]

Originally Posted by RandomName2

Sigh.

As long as Coir don't get involved. (please God don't let Coir get involved)

I can't help but miss the crazy loons, in a way. Though on places like the Journal there are plenty of good citizens doing their bit in the Coir stylee.

[jcro]

On page 8 of the guide under " The general government deficit " it seems if the Commission recommends we increase our corporation tax and we refuse [ie veto] we are liable to a fine of 0.1% of GDP.
My question is how often are we liable for this fine? Is it a once off per recommendation .Or is it every time they recommend it..?

J.

[Scofflaw]

Originally Posted by jcro

On page 8 of the guide under " The general government deficit " it seems if the Commission recommends we increase our corporation tax and we refuse [ie veto] we are liable to a fine of 0.1% of GDP.
My question is how often are we liable for this fine? Is it a once off per recommendation .Or is it every time they recommend it..?

J.

I think that confuses two bits of the Treaty. The fines in the Treaty are not related to the debt limits - they're related to the obligation to transpose the limits and correction mechanism into national law after the Treaty has been ratified. The fine therefore relates to a single situation, and is a once-off. It has nothing to do with ongoing application of the fiscal limits.

The recommendations of the Commission in respect of excessive government deficit aren't recommendations along the lines of "increase corporation tax". Instead, the "recommendations of the Commission" are something quite specific - the recommendation that an excessive deficit procedure should be applied. The Commission cannot "recommend" that we raise our corporate tax rate, and there is no requirement for Ireland to agree to any specific policy recommendation in respect of reducing a government deficit.

cordially,
Scofflaw

[jcro]

Thanks for the clarity.

j.

[NoAnimalID]

Originally Posted by Skopzz

Or, Stand up and be counted:

The rich rules over the poor, And the borrower becomes the lender's slave.. Proverb 22:7. If slave is acting smart with lender, he has every right to hit him - where it hurts more.