Slip of the tongue for eamon o'cuiv

wobbles-grogan

He said

Eamon o'cuiv wrote:

We will have a month…to discuss how we will achieve the 4.3…sorry… the 3% of GDP target that we need to achieve

Read more: http://www.breakingnews.ie/ireland/o-cuiv-points-to-43bn-budget-haircut-476928.html#ixzz11mMhWFm0

Thats a big Ooops on his part :eek:

4.3 billion though, i fear for my wages....

dr.bollocko

Moved from AH.

wobbles-grogan

Oops sorry so used to going to AH i didnt even think about where i was posting it!

starbelgrade

Paul Gogarty's latest twitter reads;

F*ck you Eamon O'Cuiv. F*ck you & your percentages.

P. Breathnach

starbelgrade wrote: »

Paul Gogarty's latest twitter reads;

F*ck you Eamon O'Cuiv. F*ck you & your percentages.

Looks like the cue to send this back to AH.

SeaFields

I don't know how he maintains he meant to say 3%....my fear is that he just let one massive 4.3billion cat out of the bag. Brian Lenihan will not be too pleased with him.

flutered

could it be the usual dff waffle, come budget day it will be a smaller tax take,

RichardAnd

Well cuts of more than 3 billion were already hinted at. 4.3 billion seems reasonable really.

murphaph

flutered wrote: »

could it be the usual dff waffle, come budget day it will be a smaller tax take,

But we know the state of the public finances. We know we are spending 20bn a year more than we take in. Cutting this to 15.7bn a year is just a first step. If anything, 4.3bn is not enough.

snubbleste

Exactly murphaph,

Also we were told last year that we need to take out €4bn out of the economy every year for the next few years.

I'd say Cuív Ó gave out the figure deliberately to 'prepare' the great unwashed, watch for serious spinning next december.

dan_d

What's the GDP? Work out 3% of it, you'll figure out pretty quick is 4.3bn is correct.

Einhard

Slip of the tongue my Aras. Preparing the ground for the inevitable more like.

johnnyskeleton

wobbles-grogan wrote: »

He said

Read more: http://www.breakingnews.ie/ireland/o-cuiv-points-to-43bn-budget-haircut-476928.html#ixzz11mMhWFm0

Thats a big Ooops on his part :eek:

4.3 billion though, i fear for my wages....

Well it would be worse for you if he meant that the budget would bring the deficit back down to 3% of GDP rather than that the deficit would be cut by 4.3bn.

To get it down to 3%, we need cuts of 17bn.

Also, cuts above 4bn have already been signalled.

johnnyskeleton

dan_d wrote: »

What's the GDP? Work out 3% of it, you'll figure out pretty quick is 4.3bn is correct.

If he meant cut the deficit by 3% of GDP this year, that would be c. €4.8bn in cuts.

RichardAnd

I'm surprised no one picked up on this:


http://www.rte.ie/news/2010/1010/economy.html


Seems to confirm it really. I'd rather he gave definite figures than "well above" 3 billion. I'd say it will be about 5k million.