Ireland's Public Finances "Stabilized" Minister

RobitTV

New figures released Wednesday indicated the public finances "have stabilized," said Irish Finance Minister Brian Lenihan.

The final Exchequer Returns for the year 2010, published by the Department of Finance, showed a deficit of 18.7 billion euro, compared with 24.6 billion euro in 2009.

The deficit figures are in line with the target set in Budget 2010 but the tax receipts for the year at 31.75 billion euro are 700 million euro above the target. The Finance Department said this is "primarily driven by a solid performance from corporation tax."

On the spending side, the Irish government spent 46.4 billion euro, or 700 million euro less than in the year 2009.

Lenihan said this reflects the ongoing tight control of public spending.

Over 5.9 billion euro was spent on capital projects in 2010, a significant amount given the more limited resources now available. Capital spending was "managed within the limits set out at the beginning of 2010."

Lenihan said the figures, combined with other recent economic data, give real grounds for optimism about the Irish economy.

"The Exchequer Returns for 2010 confirm my analysis that the public finances have stabilized. These figures in tandem with the encouraging economic data for the third quarter of 2010, means we enter 2011 on the road to economic recovery and that the targets set in Budget 2011 are achievable.

"The government has consistently identified export-led growth as the strategy that will return this economy to growth and generate jobs. This strategy is working thanks to the improvement of competitiveness, and the flexibility and adaptability of the Irish economy. Exports in 2010 were at an all time high and represented growth of 6.2 percent on 2009. This strong performance was particularly positive in the manufacturing and agri-food sectors," he said. Enditem

Permabear

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Mr. Loverman

donegalfella wrote: »

This post has been deleted.

I would imagine you are one of the few who can read through the bull****.

Most people are probably thinking "ah jaysus he was right after all, maybe I will vote FF again".

RichardAnd

Mr. Loverman wrote: »

I would imagine you are one of the few who can read through the bull****.

Most people are probably thinking "ah jaysus he was right after all, maybe I will vote FF again".

As I said in a previous thread, I would not be at all surprised to see My Cowne lead FF into government after the next election.

Leiva

....

December 9th 2009
Our plan is working.
We have turned the corner."

Atilathehun

RichardAnd wrote: »

As I said in a previous thread, I would not be at all surprised to see My Cowne lead FF into government after the next election.

With an alternative like Enda Kenny, who has been put under house arrest by his own party, what do you excpect:)

Grassroots_FF

I think this is good news and is proof that our 4-5 year plan is on track. And while employees mightn't like cuts in wages they can take heart from the fact that it is restoring competitiveness nationally as profits increase and investment is therefore more attractive.

ardmacha

We are on the road to recovery. But like many motorists in the pre Xmas snow we are having some difficulty gaining traction for forward movement.

Liam Byrne

Lenihan has said something.

However, based on track record, Lenihan has no credibility.

[/thread]

P.S. Why is Lenihan now speaking in American ?

kaiser sauze

Grassroots_FF wrote: »

I think this is good news and is proof that our 4-5 year plan is on track. And while employees mightn't like cuts in wages they can take heart from the fact that it is restoring competitiveness nationally as profits increase and investment is therefore more attractive.

lol, good one!

*facepalm*

gurramok

When Lenihan is out of a job come April/May, he will be attacking the new Govt for the unstable state of the public finances

TheSpecialOne

Jesus can he just stay quiet! He tried to bluff the markets for months insisting that everything was fine, when in fact we were screwed. The 'cheapest bank bailout in the world' turned into a nightmare bailout thanks to his inept corrective measures. Every time this man talks the Irish economy is dragged down further.

fred252

if so called "experts on the economy" haven't got a clue what chance does a lowly civil servant have?

no politician is in any position to comment on the economy.

jmayo

Atilathehun wrote: »

With an alternative like Enda Kenny, who has been put under house arrest by his own party, what do you excpect:)

Last time I checked Kenny hasn't been responsible for such things as having our three major banks and two building societies necessitating taxpayer bailouts to the tune of anything upto 100 billion (NAMA included).

Liam Byrne wrote: »

Lenihan has said something.

However, based on track record, Lenihan has no credibility.

[/thread]

P.S. Why is Lenihan now speaking in American ?

He tried our own version of English, but everything just came out wrong. :rolleyes:
He reckons he will have better luck using American English.
Failing that he will resort to bertie as his voice coach. :rolleyes:

Grassroots_FF wrote: »

I think this is good news and is proof that our 4-5 year plan is on track. And while employees mightn't like cuts in wages they can take heart from the fact that it is restoring competitiveness nationally as profits increase and investment is therefore more attractive.

Why does this track come to mind ?

Liam Byrne

Grassroots_FF wrote: »

I think this is good news and is proof that our 4-5 year plan is on track. And while employees mightn't like cuts in wages they can take heart from the fact that it is restoring competitiveness nationally as profits increase and investment is therefore more attractive.

Any chance the rats deserting the well-sunk ship might do their bit for competitiveness and not hive off an undeserved yearly-income-for-most per month?

Didn't think so. Despite them supposedly being our employees.