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14 billion in cuts so far?

  • 09-11-2010 07:51PM
    #1
    ressem
    Registered Users, Registered Users 2, Paid Member Posts: 2,427 ✭✭✭


    There have been plenty of politicians talking about 14 billion that has been taken out of the Irish economy. Does anyone know how this figure has been calculated?

    I found
    http://www.sbpost.ie/newsfeatures/how-the-damage-was-done-52547.html
    In July 2008, the government announced spending cuts that would save €440millionthatyearor €1 billion in a full year.

    The next budget was fast-tracked to October 2008,when Brian Lenihan announced a €4 billion adjustment of €2 billion in higher taxes and €2 billion in cuts.

    The following January, a public sector pension levy and other measures brought gross savings of €1.8 billion.

    An emergency (or supplemental) budget in April 2009 delivered a further €3.3 billion adjustment. Last December, Lenihan delivered another €4 billion budget.

    We have already seen savings, cutbacks and higher taxes amounting to around €14 billion.

    but that appears to be made up of a sum of estimates, which presumably includes the planned medical card cut and capital cuts. the Vat increase.
    Does it include the abandonment of Towards 2016 increases as a cut?

    The changes that I can think of don't appear to account for 14 billion. What am I missing?

    Medical Card withdrawal
    Means tested child payments
    VAT increase to 21.5%.

    Fuel, Cigs and drink
    Travel tax
    HPV Vaccine Cancellation
    Road tax and dirt increases
    Betting tax
    Tax on second properties
    Capital cuts
    Income Levy 2,4,6%
    Health Levy 4-5%
    Social Welfare christmas payments removed
    Payments to under 20s halved
    Childcare allowances abolished
    Public sector pay cuts
    Public sector pay levy
    Prescription charge

    But decreases in revenue through
    increased standard tax band
    Increased unemployment benefits
    Increased interest payments
    Tagged:


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