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Debt Service

  • 14-07-2009 6:24pm
    #1
    Kidchameleon
    Closed Accounts Posts: 5,482 ✭✭✭


    Hi All,

    Would any of ye know how much of our taxes are spent paying back loans to other countries? If the government have to borrow billions just to run the country, then how much interest are we paying?

    Regards.


Comments

  • #2
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    no doubt it will be worse then forecast , a return to 1980's numbers are impossible by their reckoning. Then again the NTMA were bitching a few years back that Ireland would have paid off its national debt before it got a AAA rating, ahh the good old days


    http://www.ntma.ie/Publications/2009/QI_Press_Release.pdf

    Interest payments on the debt were 3.8 per cent of tax revenue in 2008; the
    equivalent figure was 26.7 per cent when the NTMA was established in 1990.
    In 2009 the forecast is for 9.4 per cent of tax revenue, reflecting higher interest
    costs on a larger debt and lower tax revenues. While the interest burden will
    increase substantially over the period 2009-13, it will be no greater than the
    levels experienced in the mid-1990s.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



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