Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/

I wonder whats coming in the 2011 Budget, all ideas, suggestions and opinions welcome

  • 07-05-2010 05:55PM
    #1
    Registered Users, Registered Users 2 Posts: 48


    I wonder will VAT slide back up again this year, maybe more then the 0.5 of a percent. 23-24pc!!!!!!!!!!!!!!


«134

Comments

  • Registered Users, Registered Users 2 Posts: 955 ✭✭✭Pot Noodle =


    Are you Bertie


  • Registered Users, Registered Users 2 Posts: 48 pfy2k


    God no, how insulting! lol:eek:


  • Registered Users, Registered Users 2 Posts: 955 ✭✭✭Pot Noodle =


    Enda then


  • Registered Users, Registered Users 2 Posts: 48 pfy2k


    Enda the cardboard man, what next Pat Kenny!:rolleyes:


  • Registered Users, Registered Users 2 Posts: 955 ✭✭✭Pot Noodle =


    Eamon it is then:D


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 1,433 ✭✭✭Dotsie~tmp


    A new wonder food called soylent-green.


  • Closed Accounts Posts: 1,914 ✭✭✭danbohan


    pfy2k wrote: »
    I wonder will VAT slide back up again this year, maybe more then the 0.5 of a percent. 23-24pc!!!!!!!!!!!!!!


    i see a great sadness and darkness over the whole island , sh''''''t , sorry thats the ash cloud ,


  • Closed Accounts Posts: 959 ✭✭✭changes


    The new social insurance contributions replacing the PRSI could be a tough one of people at the lower pay levels. Sounds like everyone will be paying it.


  • Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    According to Minister Lenihan's 2010 budget speech, the 2011 budget will be another deflationary budget which will see further downward pressure on govt expenditure in this economy.

    His problem is that the number of people employed in this economy has reduced and may well reduce further, thus diminshing the existing taxbase.

    The overhang from the bank debacle will persist whereby the taxpayer will be asked to pick up the tab.

    Although we have been told that tax increases are not a viable option, I would not be surprised if there was a small increase in the rate of income tax which we will have to pay.


  • Closed Accounts Posts: 9,364 ✭✭✭ei.sdraob


    hinault wrote: »
    According to Minister Lenihan's 2010 budget speech, the 2011 budget will be another deflationary budget which will see further downward pressure on govt expenditure in this economy.

    His problem is that the number of people employed in this economy has reduced and may well reduce further, thus diminshing the existing taxbase.

    The overhang from the bank debacle will persist whereby the taxpayer will be asked to pick up the tab.

    Although we have been told that tax increases are not a viable option, I would not be surprised if there was a small increase in the rate of income tax which we will have to pay.

    considering half the workforce is outside the taxnet for all intents and purposes

    we most likely see more people dragged in


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 7,638 ✭✭✭PeakOutput


    i reckon more big cuts to social welfare and the public service although i doubt what those will be has been decided yet and wont be until after the unions let us know about the deal

    i would say up to 50% of the people currently outside the tax net will be brought into it in one way or another

    if they had any sense they would cut vat but they will probably just leave it the same

    hopefully capital project spending will be brought back to what it was meant to be as i fail to see any reason for stopping capital development in a time when we can get really good deals on contracts

    it would be good to see a completely new approach to social welfare say an outline of how things will be reformed over the next 5-10 years but it wont happen


  • Registered Users, Registered Users 2 Posts: 725 ✭✭✭rightwingdub


    Social welfare will need to be cut by about 15% in budget 2011, even sacred cows like the OAP will need to be cut, same with one parent family payment, child benefit will need to be cut.

    I hope the government has learnt its lesson from the vat FIASCO OF oCTOBER 08, people flocked up North in their droves when VAT was cut.

    I bet you public sector pay won't be touched again.


  • Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    I bet you public sector pay won't be touched again.

    One would imagine so, given that the government has made an agreement to that effect and the public finances are pretty much on target. Even Cowan and co have some morality.


  • Registered Users, Registered Users 2 Posts: 802 ✭✭✭Scarab80


    ardmacha wrote: »
    One would imagine so, given that the government has made an agreement to that effect and the public finances are pretty much on target. Even Cowan and co have some morality.

    Part of that target is to further reduce public spending next year. It all depends whether this can be achieved by efficiency savings by public and civil servants per the Croke Park deal or through further pay cuts per rejection of the deal.


  • Registered Users, Registered Users 2 Posts: 120 ✭✭max 73


    does it really matter????

    the govt have ballsed it up in the last 6/7 years so they're not going to get it right this time.....unless it's by pure luck..

    we're in deep trouble, no one really gives a damn what happens as long as they are ok, so basically i couldn't care less what they do, i work hard to try and keep my job (put on 3 days too) with no guarantee that it will be there in 6 months time and they are hinting at putting up taxes/vat/etc/etc

    to be honest it's like re-arranging the deck chairs on the titantic....might look like they are doing something but we're going down and they've flogged the liferafts too

    i'll give you a suggestion...............we realise that we are tiny player in the world stage (not a big one like we think we are) or we close the door, turn off the lights and say thanks for nothing!


  • Closed Accounts Posts: 35 lifeinireland


    max 73 wrote: »
    does it really matter????

    the govt have ballsed it up in the last 6/7 years so they're not going to get it right this time.....unless it's by pure luck..

    we're in deep trouble, no one really gives a damn what happens as long as they are ok, so basically i couldn't care less what they do, i work hard to try and keep my job (put on 3 days too) with no guarantee that it will be there in 6 months time and they are hinting at putting up taxes/vat/etc/etc

    to be honest it's like re-arranging the deck chairs on the titantic....might look like they are doing something but we're going down and they've flogged the liferafts too

    i'll give you a suggestion...............we realise that we are tiny player in the world stage (not a big one like we think we are) or we close the door, turn off the lights and say thanks for nothing!
    i think we are on the same wave length,will be more of the same as last year,cant do a thing about it ,i think we are liiking at 4% rise in taxes.:mad:


  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    Well brining the "low income" 50% of people into the tax loop has been hinted at so I think we can be sure that will be coming.

    Social welfare will, probably, be dropping down another few euros a week. Thing about this is, and this only recently occurred to me, if this Croke Park deal is accepted and PS wages are not cut then cutting social welfare payments would become very messy. I don't think many on the dole will easily accept a cut when state employees are "left alone". I'm sure that's been mentioned by other before me though.

    I could also see college fees being mentioned in some shape or form. Probably a registration increase for now but, more than likely, there will be talk of full 3rd level fees coming back. A day I look forward to.

    VAT could be interesting. I honestly wouldn't be surprised to see it drop to encourage spending which seems to be rising. It would be a smart move by the government to do this as the marginal drop in prices could tip more cautious consumers into spending a little extra cash.

    It will be a deflationary budget though, no doubt about that. Anyone hoping for FF to create jobs should not get excited.


  • Registered Users, Registered Users 2 Posts: 43,313 ✭✭✭✭K-9


    hinault wrote: »
    Although we have been told that tax increases are not a viable option, I would not be surprised if there was a small increase in the rate of income tax which we will have to pay.

    Tax credits and cut of points will remain the same thus bringing more people into the tax net, 41% bracket.

    When he said no more tax increases, he meant PAYE/Levies, not Water rates, PRSI Increases or property taxes. They'll see the big hit on the tax revenue side.

    Can see cuts to SW rates and big changes to the rules regarding payments, guaranteed if the pay deal goes through. If not, the pay bill will get hit.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



  • Registered Users, Registered Users 2 Posts: 3,086 ✭✭✭Nijmegen


    Raising direct tax on those already paying it is not an option, there is a point of deminishing returns. Same for VAT etc.

    We will see other taxes like water charges having an effect, but in the grand scheme of things these will provide small nurishment (especially considering that some of these taxes will, hopefully, be earmarked to bring specific benefit in the economy, eg the upgrading of our woeful water infrastructure)

    Bringing the 50% of the workforce that pays no income tax into the loop in some way, shape or form is another small step that can be taken - small, in that we do not want to tax their limited incomes too heavily as there is, again, points of diminishing returns.

    The next thing is cutting our bloated public spending bill. Of course this is the area of most contention, given the unwillingness to cut numbers in a targeted fashion as one would in any right-thinking private organization.

    We need to make cuts and bring in reform. There is no other way.

    To make the kind of cuts as last time, I am constantly reminded of the tax expert on The Frontline before the last budget: To make the cuts required without making cuts in public sector pay and without bringing more people into the tax band, one would need to tax married couplies on all joint income of over €75,000 at 75% - Eg. If both partners earned any more than €37,500 each, they would lose 75 cents in every euro in tax.

    Cuts, cuts, cuts. Our state is too bloated as it is.


  • Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    The next thing is cutting our bloated public spending bill. Of course this is the area of most contention, given the unwillingness to cut numbers in a targeted fashion as one would in any right-thinking private organization.

    It is perfectly rational to seek to avoid paying out large amounts of redundancy, especially as the State then has to pay unemployment as well.

    Our state is too bloated as it is.

    Ireland is notable, not for the size of its State, but for the small proportion of GNP collected in taxes.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 43,313 ✭✭✭✭K-9


    ardmacha wrote: »

    Ireland is notable, not for the size of its State, but for the small proportion of GNP collected in taxes.

    Any figures for that? Our tax take is lowered because it was based on low direct taxes and high indirect taxes.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



  • Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    Any figures for that? Our tax take is lowered because it was based on low direct taxes and high indirect taxes.

    Revenue is less than 30% of GNP. No European style government can run on that. The composition of taxes needs to be rebalanced in a situation where there are not huge numbers of houses being sold.


  • Registered Users, Registered Users 2 Posts: 43,313 ✭✭✭✭K-9


    ardmacha wrote: »
    Revenue is less than 30% of GNP. No European style government can run on that. The composition of taxes needs to be rebalanced in a situation where there are not huge numbers of houses being sold.

    I agree, problem is doing this in an economy that a huge number of houses aren't being sold, where is the bubble taxes that sourced the increases PS pay and SW increases?

    PS. Pay and SW increases where based on the old tax system, that we all agree was wrong. The 2 ends need to suffer, not just one.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



  • Registered Users, Registered Users 2 Posts: 215 ✭✭dean21


    K-9 wrote: »
    I agree, problem is doing this in an economy that a huge number of houses aren't being sold, where is the bubble taxes that sourced the increases PS pay and SW increases?

    PS. Pay and SW increases where based on the old tax system, that we all agree was wrong. The 2 ends need to suffer, not just one.
    Back to 48% tax for the high paid
    wont touch PS as i think they are happy to have got away with the cuts without a all out strike and in 2010 we will see massive protest in the uk , france, greece, spain and portugal.


  • Closed Accounts Posts: 1,853 ✭✭✭Andrew33


    ardmacha wrote: »
    Even Cowan and co have some morality.

    Do you reckon? I wouldn't be so sure.


  • Registered Users, Registered Users 2 Posts: 7,638 ✭✭✭PeakOutput


    dean21 wrote: »
    Back to 48% tax for the high paid
    .

    that wont raise near enough the only thing that will is bringing the lower paid into the tax net

    also the goverment have always said the pay cuts for the ps will be coming over two budgets if they dont accept the croke park agreement then there will be huge cuts again


  • Closed Accounts Posts: 5,733 ✭✭✭oppenheimer1


    pfy2k wrote: »
    I wonder will VAT slide back up again this year, maybe more then the 0.5 of a percent. 23-24pc!!!!!!!!!!!!!!

    Minimum Wage reduced in addition to welfare by 5 to 10%. OAPs take a hit. Almost all capital spending projects that haven't been started put on hold apart from maintenance. Bringing more people into the tax bands as well.

    I don't think they will go after the PS this time around, unless they go for redundancies.


  • Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    dean21 wrote: »
    Back to 48% tax for the high paid

    My marginal rate is already 54% (and I don't pay the highest level of income levy)


  • Closed Accounts Posts: 959 ✭✭✭changes


    RichardAnd wrote: »
    Social welfare will, probably, be dropping down another few euros a week. Thing about this is, and this only recently occurred to me, if this Croke Park deal is accepted and PS wages are not cut then cutting social welfare payments would become very messy. I don't think many on the dole will easily accept a cut when state employees are "left alone".

    But savings will be made in the PS by non replacment of staff and centralising functions like medical cards processing etc.

    If they cut social welfare it will be because they are looking to make savings from that budget. I don't think the arguement could be made that because the PS do not get a pay reduction then the social welfare should not get cut either. They are both completely seperate.

    If they really tighten up on welfare fraud then they could save many millions. Much tougher penalties would be a good start.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    changes wrote: »
    But savings will be made in the PS by non replacment of staff and centralising functions like medical cards processing etc.

    If they cut social welfare it will be because they are looking to make savings from that budget. I don't think the arguement could be made that because the PS do not get a pay reduction then the social welfare should not get cut either. They are both completely seperate.

    If they really tighten up on welfare fraud then they could save many millions. Much tougher penalties would be a good start.


    Oh I agree, money will be saved but what I actually meant was that is PS workers do not get their pay cut then people on the dole will be moaning. Think about it, your 200 euro a week becomes 180 euro a week whilst the civil servant next door doesn't take a cut. I'm not taking either side but I doubt it would be smooth sailing.


Advertisement