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

Eric Cartman · 12-04-2020 6:05pm #1

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 ?

Jim_Hodge · 12-04-2020 6:12pm

What do you suggest?

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

DM1983 · 12-04-2020 6:13pm

Eric Cartman wrote: »

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.

Blueshoe · 12-04-2020 6:13pm

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

Eric Cartman · 12-04-2020 6:14pm

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.

Podge201 · 12-04-2020 6:16pm

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

Thelonious Monk · 12-04-2020 6:17pm

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

Sierra Oscar · 12-04-2020 6:17pm

Eric Cartman wrote: »

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.

Ubbquittious · 12-04-2020 6:24pm

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

Beasty · 12-04-2020 6:26pm

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

Eric Cartman · 12-04-2020 6:28pm

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

Blueshoe · 12-04-2020 6:29pm

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.

IAMAMORON · 12-04-2020 6:30pm

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

Eric Cartman · 12-04-2020 6:31pm

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.

Assetbacked · 12-04-2020 6:31pm

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.

punisher5112 · 12-04-2020 6:33pm

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.

arctictree · 12-04-2020 6:35pm

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

Ubbquittious · 12-04-2020 6:37pm

Assetbacked wrote: »

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

ixoy · 12-04-2020 6:38pm

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.

Still waters · 12-04-2020 6:39pm

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

Soulsun · 12-04-2020 6:40pm

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

L1011 · 12-04-2020 6:40pm

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.

Eric Cartman · 12-04-2020 6:40pm

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.

piplip87 · 12-04-2020 6:41pm

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.

Skylinehead · 12-04-2020 6:42pm

Eric Cartman wrote: »

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:

brickster69 · 12-04-2020 6:42pm

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.

pure.conya · 12-04-2020 6:43pm

Eric Cartman wrote: »

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

Eric Cartman · 12-04-2020 6:44pm

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.

L1011 · 12-04-2020 6:45pm

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.

diggerdigger · 12-04-2020 6:49pm

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.

Thelonious Monk · 12-04-2020 7:03pm

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

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

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