Advertisement
We've partnered up with Nixers.com to offer a space where you can talk directly to Peter from Nixers.com and get an exclusive Boards.ie discount code for a free job listing. If you are recruiting or know anyone else who is please check out the forum here.
If you have a new account but can't post, please email Niamh on [email protected] for help to verify your email address. Thanks :)

How much is this all going to cost and who will pay for it ?

  • 12-04-2020 5:05pm
    #1
    Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    Varadkar has pledged no income tax increases to fund this, which means he's planning to introduce another tax or increase USC.

    How much is this all expected to cost by the end and more importantly who will be hit to pay for it and how ?


«13456739

Comments

  • Registered Users Posts: 6,379 ✭✭✭ Jim_Hodge


    What do you suggest?

    Come on, give us a hint of how we can save lives and cover the costs.


  • Registered Users Posts: 217 ✭✭ DM1983


    Varadkar has pledged no income tax increases to fund this, which means he's planning to introduce another tax or increase USC.

    How much is this all expected to cost by the end and more importantly who will be hit to pay for it and how ?

    ECB will buy government bonds at 0% interest rate. Massive QE program coming. Should be ok in Europe and US. I worry about the rest of the world. Places like South Africa for example will find themselves in hyper inflation territory pretty quickly.


  • Banned (with Prison Access) Posts: 3,964 ✭✭✭ Blueshoe


    The Eu can pay for it. Fire up the printing machine. Just don't tell countries outside the EU and pretend we are all getting hammered by austerity. Lodge the money into Paschal's account in the quiet


  • Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    In theory china should pay for the lot , but we all know that won't happen. I would personally be a fan of cutting government spending. End the quangos, tell the double job civil servants to go home, break the union controls on our civil service and utilise the new working from home systems to cut costs and decentralise some staff.


  • Closed Accounts Posts: 173 ✭✭ Podge201


    How much will the Chinese charge us for a vaccine when they are finished rodding us for crap ppe?


  • Advertisement
  • Registered Users Posts: 10,448 ✭✭✭✭ Thelonious Monk


    I would imagine we'll see more taxes, less spending on infrastructure etc. We'll all take a hit. Dems the breaks.


  • Moderators, Category Moderators, Computer Games Moderators Posts: 8,123 CMod ✭✭✭✭ Sierra Oscar


    In theory china should pay for the lot , but we all know that won't happen. I would personally be a fan of cutting government spending. End the quangos, tell the double job civil servants to go home, break the union controls on our civil service and utilise the new working from home systems to cut costs and decentralise some staff.

    Didn't happen following the financial crisis (those measures alone wouldn't even cause a dent in the financial hole regardless) and won't happen this time.

    Judging from the EU response to date, I don't think we will see any tax increases. In fact I think we will see a significant fiscal stimulus programme which could be coupled with tax cuts to get people spending.

    The response to this won't come close to resembling the response to the financial crisis. Completely different causes and the key difference this time around is that it impacts on the entire EU - and most importantly, Germany.


  • Registered Users Posts: 4,924 ✭✭✭ Ubbquittious


    Maybe a massive hike in import tariffs for stuff from China. People will pay it as they, now all addicted to alibalibabba and wish. At least while they wean themselves off it

    Stellantis: All the sh1t brands under one roof



  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 62,378 Admin ✭✭✭✭✭ Beasty


    We will pay for it, as will our children, and our children's children

    How much? Can't imagine it will be much less than €50bn in costs incurred and lost tax revenues, and it may be a lot more


  • Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    Beasty wrote: »
    We will pay for it, as will our children, and our children's children

    How much? Can't imagine it will be much less than €50bn in costs incurred and lost tax revenues, and it may be a lot more

    was I supposed to read that in the jebidiah Springfield museum guys voice, because I did and all I can say is

    1) wheres the fife
    2) gimme the fife


  • Advertisement
  • Banned (with Prison Access) Posts: 3,964 ✭✭✭ Blueshoe


    Beasty wrote: »
    We will pay for it, as will our children, and our children's children

    How much? Can't imagine it will be much less than €50bn in costs incurred and lost tax revenues, and it may be a lot more

    Add it to the pile. Sure the Us is trillions in debt yet they plow on no problem. Trump and those before him had no issue lowering taxes. National debt doesn't seem to worry America.


  • Banned (with Prison Access) Posts: 9,078 ✭✭✭ IAMAMORON


    Hopefully Sinn Féin, they have promised to pay for everything else.


  • Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    IAMAMORON wrote: »
    Hopefully Sinn Féin, they have promised to pay for everything else.

    I don't think slab Murphy and the northern bank robbers have enough to sort this one even.


  • Closed Accounts Posts: 2,971 ✭✭✭ Assetbacked


    There is no scope to increase income tax and USC, given the government promised but failed to this the last 7 years. However, spending has increased hugley the past few years, particularly with respect to welfare and this should be low hanging fruit in the first instance. Other measures such as a more meaningful property tax combined with large scale housebuilding and purchasing assistance will kill two birds with one stone; providing desperately needed housing and revenue for the State.


  • Registered Users Posts: 24,686 ✭✭✭✭ punisher5112


    Say good bye to bus connects, 10 minutes darts etc...

    As mentioned USC increase, wage cuts and certain perks in jobs and so on....

    Carbon tax increase to offset and saving on the decrease in charge for electric and gas.


    It ain't looking good the next few years.


  • Registered Users Posts: 4,036 ✭✭✭ arctictree


    So we are just going to heap it on the national debt? God help us if interest rates rise.


  • Registered Users Posts: 4,924 ✭✭✭ Ubbquittious


    There is no scope to increase income tax and USC, given the government promised but failed to this the last 7 years. However, spending has increased hugley the past few years, particularly with respect to welfare and this should be low hanging fruit in the first instance. Other measures such as a more meaningful property tax combined with large scale housebuilding and purchasing assistance will kill two birds with one stone; providing desperately needed housing and revenue for the State.

    Fcuk the "more meaningful property tax". This means struggling to keep a roof over your head after you bought and paid for the damn house

    Stellantis: All the sh1t brands under one roof



  • Moderators, Entertainment Moderators Posts: 17,592 Mod ✭✭✭✭ ixoy


    Easier wins:

    * Pension age to raise again - It'll be something like 2030 so it'll be a long-term *play

    * Third tax-rate band - This will be an easy win as it'll be on "high" earners.

    * VAT rate increase on certain goods

    * Property tax re-evaluated in some form

    * Big cuts back on infrastructure - A lot of these are partially EU-funded anyway and the EU could likely no longer have the funds.

    Unlikely to happen irrespective of potential savings:

    * Any PS wage cuts - After the fury the last time, it's unlikely to happen again regardless of whether it should or not.

    * Cuts to social welfare - Too many people out of work to cut this.


  • Registered Users Posts: 1,167 ✭✭✭ Still waters


    Who's paying for it, well op if you work look in the mirror, if you're a lifelong burden on the state you can sit back and relax, we'll cover for you


  • Registered Users Posts: 546 ✭✭✭ Soulsun


    Blueshoe wrote: »
    The Eu can pay for it. Fire up the printing machine. Just don't tell countries outside the EU and pretend we are all getting hammered by austerity. Lodge the money into Paschal's account in the quiet

    Love this idea


  • Advertisement
  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 60,581 Mod ✭✭✭✭ L1011


    ixoy wrote: »

    * Big cuts back on infrastructure - A lot of these are partially EU-funded anyway and the EU could likely no longer have the funds.

    Virtually nothing infra-wise is EU funded or has been for a decade.


  • Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    ixoy wrote: »
    Easier wins:

    * Pension age to raise again - It'll be something like 2030 so it'll be a long-term *play

    * Third tax-rate band - This will be an easy win as it'll be on "high" earners.

    * VAT rate increase on certain goods

    * Property tax re-evaluated in some form

    * Big cuts back on infrastructure - A lot of these are partially EU-funded anyway and the EU could likely no longer have the funds.

    Unlikely to happen irrespective of potential savings:

    * Any PS wage cuts - After the fury the last time, it's unlikely to happen again regardless of whether it should or not.

    * Cuts to social welfare - Too many people out of work to cut this.

    this one worries me the most. The amount of people on the 350 a week who will fight tooth and nail for the government not to drop them back to 203 a week will be quite a lot. Its the exact thing the shinners would jump on and try bankrupt us even further.


  • Registered Users Posts: 1,986 ✭✭✭ piplip87


    Be a great opportunity to introduce some decent changes to welfare policy. If your recieving a jobseekers payment for more than 12 months without effort to retrain then here is a few Tesco vouchers for you, they cannot be transferred or they cannot buy fags or booze. Here is a 20 quid ESB metre card. Make it do you......

    That would certainly save a few quid.


  • Moderators, Social & Fun Moderators, Sports Moderators Posts: 11,690 Mod ✭✭✭✭ Skylinehead


    was I supposed to read that in the jebidiah Springfield museum guys voice, because I did and all I can say is

    1) wheres the fife
    2) gimme the fife

    At least it's only for three months :pac:


  • Registered Users Posts: 3,048 ✭✭✭ brickster69


    arctictree wrote: »
    So we are just going to heap it on the national debt? God help us if interest rates rise.

    No chance of that, a good chance they will fall more though. Problem with that is it will **** the banks up even more, so they will get the cash first.

    Rinse and repeat.


  • Registered Users Posts: 904 pure.conya


    Varadkar has pledged no income tax increases to fund this, which means he's planning to introduce another tax or increase USC.

    How much is this all expected to cost by the end and more importantly who will be hit to pay for it and how ?

    It will cost a fortune, and we'll pay for it as quick as we paid for the banks and unsecured bondholders since 2008/9, if we continue to be lazy apathetic idiots that refuse to stand up for ourselves


  • Registered Users Posts: 26,407 ✭✭✭✭ Eric Cartman


    piplip87 wrote: »
    Be a great opportunity to introduce some decent changes to welfare policy. If your recieving a jobseekers payment for more than 12 months without effort to retrain then here is a few Tesco vouchers for you, they cannot be transferred or they cannot buy fags or booze. Here is a 20 quid ESB metre card. Make it do you......

    That would certainly save a few quid.

    the one saving grace right now for me is knowing they can't use it for holidays, tanning beds, the bookies, pubs , buying loads of non essentials and drug dealers are finding it hard to re stock.


  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 60,581 Mod ✭✭✭✭ L1011


    piplip87 wrote: »
    Be a great opportunity to introduce some decent changes to welfare policy. If your recieving a jobseekers payment for more than 12 months without effort to retrain then here is a few Tesco vouchers for you, they cannot be transferred or they cannot buy fags or booze. Here is a 20 quid ESB metre card. Make it do you......

    That would certainly save a few quid.

    Plenty of countries have welfare debit cards. People still get smokes/drink/drugs with them in every single one of them.

    Dodgy retailers, or buy stuff to sell.


  • Registered Users Posts: 130 ✭✭ diggerdigger


    We are about to go on a global money printing exercise, the GFC QE programs won't get a look in for scale. Developing nations will get debt forgiveness. Inflation, inflation, inflation, to lift all boats.

    It'll work for 10 years and end in tears. I think mainly because I don't trust all the central banks to get it calibrated and scaled right.


  • Advertisement
  • Registered Users Posts: 10,448 ✭✭✭✭ Thelonious Monk


    piplip87 wrote: »
    Be a great opportunity to introduce some decent changes to welfare policy. If your recieving a jobseekers payment for more than 12 months without effort to retrain then here is a few Tesco vouchers for you, they cannot be transferred or they cannot buy fags or booze. Here is a 20 quid ESB metre card. Make it do you......

    That would certainly save a few quid.

    That would make their children even more impoverished and continue the cycle though


Advertisement