Government Finance Statistics Quarterly Results

gaius c

Didn't see a thread on this but it looks disastrous.

http://cso.ie/en/releasesandpublications/er/gfsq/governmentfinancestatisticsquarter12013/#.UefW9H9uh2E

Government revenue: up €973 million
Government expenditure: up €1,299 million
Deficit is up 2.5%

Debt is now worse than it was back in the 80's.



Why on earth are they still persisting with the fallacy that we're about to exit the bailout and that austerity budgets are nearly over?
The government and Noonan, in particular, need to be brought to heel for peddling such lies.

RichardAnd

gaius c wrote: »

Why on earth are they still persisting with the fallacy that we're about to exit the bailout and that austerity budgets are nearly over?
The government and Noonan, in particular, need to be brought to heel for peddling such lies.

Some weeks ago, I heard a report on Newstalk's Business Breakfast program where there host (ian guider) said that Noonan had outlined some sort of plan for the post-bailout budgets. Guider said that the plan described further austerity budgets with little or no change from from the current budget format being effected. I found no mention of this on RTE news (not that that surprised me) but I just wondered where the information had come from.

Personally, I believe that austerity budgets will not end with budget 2014.

OMD

gaius c wrote: »

Why on earth are they still persisting with the fallacy that we're about to exit the bailout and that austerity budgets are nearly over?
The government and Noonan, in particular, need to be brought to heel for peddling such lies.

Who says it's a fallacy? We are about to exit bailout and we have never had an austerity budget.

woodoo

They keep taking money out of the economy pushing us into recession, how do they expect jobs growth in that climate. Its is jobs now that will close the deficit and very little else.

If we were able to get things cheaper then maybe people would buy more. If more stock was going out the door in businesses throughout Ireland more people could be hired. We are getting fleeced by imports and middle men who sell wholesale to businesses in Ireland. Someone in government should be trying to do something about that. Also lower VAT significantly for a few years that could increase sales volumes too. They need to try something.

spank_inferno

woodoo wrote: »

They keep taking money out of the economy pushing us into recession, how do they expect jobs growth in that climate. Its is jobs now that will close the deficit and very little else.

If we were able to get things cheaper then maybe people would buy more. If more stock was going out the door in businesses throughout Ireland more people could be hired. We are getting fleeced by imports and middle men who sell wholesale to businesses in Ireland. Someone in government should be trying to do something about that. Also lower VAT significantly for a few years that could increase sales volumes too. They need to try something.

I'd agree on that jist.

growth will come again with a return of demand.

Demand will return when the government confiscate less disposable income via taxes and levies.

With demand comes jobs.

I wish FG/Labour would get serious about spending cuts.

instead of revenue raising, they should look to tax reductions.

KyussBishop

spank_inferno wrote: »

I'd agree on that jist.

growth will come again with a return of demand.

Demand will return when the government confiscate less disposable income via taxes and levies.

With demand comes jobs.

I wish FG/Labour would get serious about spending cuts.

instead of revenue raising, they should look to tax reductions.

I agree on demand, but look at the overall flow of money between the public and private sector (deliberately leaving out international trade here): Change of Money in Private Sector = Government Spending - Taxes.

If you want more money flowing into the private sector, you want government reducing taxes and increasing public spending.

It's not sustainable to do this with high-interest debt though, so we need to look to Europe for a solution there; Yanis Varoufakis has recently updated his Modest Proposal on how to do this:
http://yanisvaroufakis.eu/euro-crisis/modest-proposal/4-the-modest-proposal-four-crises-four-policies/

It would be interesting to see excise duties since the start of June this year compared to the average for the last 18 years :pac:

ezra_pound

gaius c wrote: »

Didn't see a thread on this but it looks disastrous.

http://cso.ie/en/releasesandpublications/er/gfsq/governmentfinancestatisticsquarter12013/#.UefW9H9uh2E

Government revenue: up €973 million
Government expenditure: up €1,299 million
Deficit is up 2.5%

Debt is now worse than it was back in the 80's.



Why on earth are they still persisting with the fallacy that we're about to exit the bailout and that austerity budgets are nearly over?
The government and Noonan, in particular, need to be brought to heel for peddling such lies.

Non storey alert

This blip is explained by an extra large transfer to Anglo in q1. The government are doing a great job at sorting out this country and shouldn't have to put up with negative crap like this.

ezra_pound

ezra_pound wrote: »

Non storey alert

This blip is explained by an extra large transfer to Anglo in q1. The government are doing a great job at sorting out this country and shouldn't have to put up with negative crap like this.

a blip? Was it not real money they transferred?