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What would YOU do to bring about economic recovery?

  • 19-08-2010 12:46AM
    #1
    Registered Users, Registered Users 2 Posts: 1,161 ✭✭✭


    A lot of treads here discuss the many errors past governments have made that have brought us to where we are today, jobless and broke.

    But that was then and this is now so what I would like to know is how you would go about fixing the economy if you were sitting in the big seat at Government Buildings. My suggestions would be to reduce spending by cutting social welfare to reduce the deficit and improve competitiveness by lowering corporation tax to 10%.

    Other's may have different thoughts so lets be having them.


«134

Comments

  • Registered Users, Registered Users 2 Posts: 961 ✭✭✭LookBehindYou


    They should lead by example, firstly by taking a huge paycut, and then scrapping their expenses and get free travel tickets for state owned transport.
    maybe ship the so called asylum seekers from Butlins to Spike island.


  • Closed Accounts Posts: 14 Toe Twister


    Start my own business!

    And I'm chipping away on some software that may turn into just that down the road. I think we'll be a long time waiting for the government to do anything, so we're better off seeing what we can do ourselves.


  • Closed Accounts Posts: 1,460 ✭✭✭demonspawn


    I would start by putting all the back-benchers and jr. ministers on minimum wage or thereabouts. I'd cut all TDs and ministers salaries by at least 15%. No, that won't make them more susceptible to corruption, they're all pretty corrupt on their fat salaries. I'd get rid of the Seanad completely, they're a waste of taxpayers money. PR consultants for government officials would be banned.

    I would make the wealthiest in this country pay their share for once.

    I'd re-nationalize the country's off-shore petroleum resources. I'd legalize hemp (not necessarily cannabis, though that would increase tax revenue drastically) and encourage farmers to grow it. I would invest in hemp production facilities to produce textiles, paper, building materials, etc. I would invest in a major recycling facility to produce recycled goods instead of spending millions each year to ship our recyclable waste out of the country. Basically I would encourage native, sustainable industry.

    I could go on and on, but these are just a few of the things I would do before even considering taking from the most vulnerable in this country.


  • Banned (with Prison Access) Posts: 583 ✭✭✭xp90


    Ren2k7 wrote: »
    A lot of treads here discuss the many errors past governments have made that have brought us to where we are today, jobless and broke.

    But that was then and this is now so what I would like to know is how you would go about fixing the economy if you were sitting in the big seat at Government Buildings. My suggestions would be to reduce spending by cutting social welfare to reduce the deficit and improve competitiveness by lowering corporation tax to 10%.

    Other's may have different thoughts so lets be having them.

    Get the seoige sisters and twink to mud wrestle whilst pat kenny awkwardly commentates.€50 a ticket in the aviva stadium 7nights a week,we'll be out of the recession in a fortnight


  • Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    New highest tax bracket
    Bring in self assessment property tax (size of house, areas by zone etc)
    Cut minimum wage
    Transfer motor tax to petrol (as VAT)
    Increase TAX on all chocolate, soft drinks, fast food, etc

    Huge reformation of local politics, councillors, mayors (cuts)
    Cut the amount of TD's
    Abolish Sheanad


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  • Closed Accounts Posts: 1,460 ✭✭✭demonspawn


    xp90 wrote: »
    Get the seoige sisters and twink to mud wrestle whilst pat kenny awkwardly commentates.€50 a ticket in the aviva stadium 7nights a week,we'll be out of the recession in a fortnight

    You'd have to pay me 100 euros to attend that particular event.


  • Closed Accounts Posts: 19,968 ✭✭✭✭mikemac


    demonspawn wrote: »
    I would start by putting all the back-benchers and jr. ministers on minimum wage or thereabouts. I'd cut all TDs and ministers salaries by at least 15%.

    Which is it, minimum wage or 15% cut, your post is contradicting itself :confused:


  • Closed Accounts Posts: 1,460 ✭✭✭demonspawn


    Which is it, minimum wage or 15% cut, your post is contradicting itself :confused:

    They guys sitting at the back "learning the trade" should be on minimum wage. The ones with actual responsibilities and constituencies should get a 15% cut. Maybe they all have constituencies, I'm not exactly sure. I don't think Irish politicians should be holding constituencies if they are elected to a cabinet position.


  • Registered Users, Registered Users 2, Paid Member Posts: 24,715 ✭✭✭✭Cookie_Monster


    cut dole by 40%
    reduce minimum wage by 20%
    reduce rent supplement by 50%
    more stringent criteria for claiming various social welfare benefits
    Increase PAYE rates
    Increase PAYE bands downwards and create third band for higher earners
    Privatise CIE
    Reform ESB
    Abolish HSE and replace with new organisation, allowing no guaranteed admin jobs to be transfer before thorough investigation into need
    cut TD numbers to 80-100
    Merge City and county councils into 4 regions and Dublin
    Reduce Senead remuneration to 50% of current
    Reduce TD remuneration to 50% current
    Abolish TD expenses
    Redirect DF funding to support Navy first and foremost
    Reduce employer PRSI and other "anti employment" taxes and red tape
    Abolish/merge 60-70% of Quangos
    Sell Aer Lingus to Ryanair
    Build more prisons
    Remove concurrent sentencing
    Minimum jail terms for repeat offences
    Public service pay cuts, by grade starting at 10% up to 40%
    Cease excessive pension benefits for new PS workers
    Proper investigation into nuclear generation options
    Increase motorway speed limits and other reforms (weather dependant limits, minimum speed etc)
    Remove Anglo from guarantee and allow to die
    Allow at least one of the other banks to die
    Support the rest on the understanding that 75%+ of any profits goes to gov until debt repaid


  • Closed Accounts Posts: 2,819 ✭✭✭dan_d


    cut dole by 40%
    Reduce minimum wage by 20%
    Reduce rent supplement by 50%
    More stringent criteria for claiming various social welfare benefits - onus on the social welfare to check everything out, rather than the onus being on the claimant to provide information.
    Increase PAYE rates
    Increase PAYE bands downwards and create third band for higher earners
    Privatise CIE - Unsure on this. It may possibly be better to simply treat it as the HSE is treated. Top heavy with unions, overpaid people not doing enough work for what they earn, and a happy culture of "sure that's how we always do things", as well as people getting their relatives jobs (I know of a few). Take it apart and replace it, but I'm not sure privatising is the way to go.
    Reform ESB
    Abolish HSE and replace with new organisation, allowing no guaranteed admin jobs to be transfer before thorough investigation into need
    Cut TD numbers to 80-100
    Merge City and county councils into 4 regions and Dublin
    Reduce Senead remuneration to 50% of current
    Reduce TD remuneration to 50% current
    Abolish TD expenses
    Redirect DF funding to support Navy first and foremost
    Reduce employer PRSI and other "anti employment" taxes and red tape
    Abolish/merge 60-70% of Quangos
    Sell Aer Lingus to Ryanair
    Build more prisons
    Remove concurrent sentencing
    Minimum jail terms for repeat offences
    Public service pay cuts, by grade starting at 10% up to 40%
    Cease excessive pension benefits for new PS workers
    Proper investigation into nuclear generation options-I'd go for investigating our natural resources. We are in a position to make huge use of wind and wave energy.Worth doing before nuclear, as it's already started as renewable energy.
    Increase motorway speed limits and other reforms (weather dependant limits, minimum speed etc)
    Remove Anglo from guarantee and allow to die
    Allow at least one of the other banks to die
    Support the rest on the understanding that 75%+ of any profits goes to gov until debt repaid

    As part of social welfare and overall reform, I'd also ensure a central database was set up, based on the PPS cards that most people already have, containing necessary background and working information on everyone, that is accessible to all Gov depts, to avoid social welfare cheating, and the complete lack of communication between Gov depts.

    I'd also go through all civil service depts and those on very high wages, and offset against the "consultants" that keep being called in to advise...abolish as necessary.

    Adopt a harder line with unions - work with me, or work against me.

    Invest in public transport until it was coming out people's ears. Link the Luas lines. Run 2/3 Luas lines out to the north and north west of Dublin. Ensure buses connect with trains, which connect with Luas. Connect Dublin Airport to the rail network with a luas/dart line...there's a lot of land between the airport and the train line into the city that can be crossed, above ground. Link Dublin by train to major cities, with trains running every hour/45 mins for cheap return fares, and to lesser towns/cities with trains every hour/hour and 15 mins.Motorways are done, we shouldn't be investing any more in them. Offer people an alternative. A PROPER alternative. Needless to say, there will be an associated jobs spin off.

    Start investing in people's quality of life. Set up a scheme whereby local communities can fundraise and upon reaching a certain amount, get a grant, towards building a community pool/hall/outdoor pitches etc for their area. Incentives to local builders who do the work.People's quality of life is not considered enough in this country - it's not enough to build an estate and say "there you go".

    Some of those things are small as well as nationwide. But you have to start somewhere I suppose. And I took the lazy route and hijacked the Cookie Monsters suggestions (sorry), which are excellent!!


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  • Registered Users, Registered Users 2 Posts: 551 ✭✭✭sparksfly


    cut dole by 40%
    reduce minimum wage by 20%
    reduce rent supplement by 50%
    more stringent criteria for claiming various social welfare benefits
    Increase PAYE rates
    Increase PAYE bands downwards and create third band for higher earners
    Privatise CIE
    Reform ESB
    Abolish HSE and replace with new organisation, allowing no guaranteed admin jobs to be transfer before thorough investigation into need
    cut TD numbers to 80-100
    Merge City and county councils into 4 regions and Dublin
    Reduce Senead remuneration to 50% of current
    Reduce TD remuneration to 50% current
    Abolish TD expenses
    Redirect DF funding to support Navy first and foremost
    Reduce employer PRSI and other "anti employment" taxes and red tape
    Abolish/merge 60-70% of Quangos
    Sell Aer Lingus to Ryanair
    Build more prisons
    Remove concurrent sentencing
    Minimum jail terms for repeat offences
    Public service pay cuts, by grade starting at 10% up to 40%
    Cease excessive pension benefits for new PS workers
    Proper investigation into nuclear generation options
    Increase motorway speed limits and other reforms (weather dependant limits, minimum speed etc)
    Remove Anglo from guarantee and allow to die
    Allow at least one of the other banks to die
    Support the rest on the understanding that 75%+ of any profits goes to gov until debt repaid

    Why increase paye rates on thousands of struggling taxpayers who are already picking up the tab for every scrounger and gangster in the country. Other gobsh1tes suggest adding property tax to the already hard pressed mortgage payer, many who bought a vastly overpriced house thanks to the Galway tent brigade.
    There is not one mention of job creation so far.
    Our biggest group of professional beggars, the farmers, get away with not paying one cent in commercial rates while grabbing every grant and subsity thats going. Holland with half our area and 16.5 million people export 10 times more agri / food / engineering produce than we do.
    We have a filthy, litter strewn, ragworth infested country while we pay almost 500,000 people to stay in bed.
    Compare the tourist revenue from canals and the lake districts in the UK and Europe with our canal and lake amenities, we are shameful.
    We allow native export companies to die for the sake of a few million euro while pouring endless billions into zombie banks.
    When you see the likes of Jackie Healy Rae and his moron followers influencing government policy, it says it all about us as a nation.


  • Registered Users, Registered Users 2, Paid Member Posts: 24,715 ✭✭✭✭Cookie_Monster


    Unsure on this. It may possibly be better to simply treat it as the HSE is treated. Top heavy with unions, overpaid people not doing enough work for what they earn, and a happy culture of "sure that's how we always do things", as well as people getting their relatives jobs (I know of a few). Take it apart and replace it, but I'm not sure privatising is the way to go.

    I'd go for investigating our natural resources. We are in a position to make huge use of wind and wave energy.Worth doing before nuclear, as it's already started as renewable energy.

    On these two. We are already investing lots in renewables so I would not change this, I would add nuclear to the equation.

    As for CIE. Irish rail is a shambolic, dangerous, corrupt organisation. The recent report out show they purposely put passengers in danger for years in relation to the Malahide Viaduct. Do like the UK, get someone like DB Shenker (German Rail) in to run it and get rid of every single management person it IR.

    DB and BE run reasonably good operations and should probably simply be spilt from CIE to their own separate state companies, or maybe private. A situation like the Luas operation may be best. Gov owns the stock and infrastructure but operates a licence to run it.

    sparksfly wrote:
    Why increase paye rates on thousands of struggling taxpayers who are already picking up the tab for every scrounger and gangster in the country. Other gobsh1tes suggest adding property tax to the already hard pressed mortgage payer, many who bought a vastly overpriced house thanks to the Galway tent brigade.
    Because tax rates in this country are, in reality, very low. (I fully support a property tax, dependant on the measure used to calculate it)


  • Closed Accounts Posts: 3,212 ✭✭✭Jaysoose


    I would buy Brian Lenihan and the entire department of finance a brand new calculator each as the ones currently being used must be defective.


  • Closed Accounts Posts: 457 ✭✭hiorta


    Good on yer, Ren2k7, you're looking forward.
    The wake is surely over, the Ireland of yesterday is buried and tomorrow beckons. Great news.


  • Closed Accounts Posts: 836 ✭✭✭rumour


    Ren2k7 wrote: »
    A lot of treads here discuss the many errors past governments have made that have brought us to where we are today, jobless and broke.

    But that was then and this is now so what I would like to know is how you would go about fixing the economy if you were sitting in the big seat at Government Buildings. My suggestions would be to reduce spending by cutting social welfare to reduce the deficit and improve competitiveness by lowering corporation tax to 10%.

    Other's may have different thoughts so lets be having them.

    Ask not what your country can do for you, but what you can do for your country.


  • Registered Users, Registered Users 2 Posts: 551 ✭✭✭sparksfly


    Because tax rates in this country are, in reality, very low. (I fully support a property tax, dependant on the measure used to calculate it)[/QUOTE]

    Tax rates may seem low on average, especially when some high and low earners (and all unemployed) pay no tax at all. When you see the lack of services provided in Ireland compared to other countries, from tax revenue, our tax rates, especially for middle earners, are not so low.
    Property prices in Ireland were allowed to go out of control. For many of the already mentioned middle earners who have large mortgages on these overpriced properties, further tax of any kind for this sector of the population is out of the question. All you will get is more reposessions which will defeat any benefit that you might expect.


  • Registered Users, Registered Users 2 Posts: 12,911 ✭✭✭✭whatawaster


    Social Welfare: Aim to reduce by 15% in year one, and 15% in year two. Reductions across the board but we particularly need to hit the long-term “won’t work” group.
    This will hopefully save over 5bn a year

    Public Sector Pay: Refuse to answer phone calls from Unions. Abolish any semblance of benchmarking and go through each department in detail looking for savings. Particularly focus on the highest paid, but cuts need to be made everywhere. Aim to cut wage bill by 15% in year one and by 15% in year two.

    Tax: Reduce Corporation Tax to 10%. Increase Stamp Duties. Bring in a tax credit for self-employed to match PAYE credits. Increase CGT and CAT.

    Minimum Wage: Lower by 10% in year one, by 5% in year two, by 5% in year three

    Capital: Link the two Luas lines, Metro North and other Metro lines to follow. Privatise national railway and upgrade rail infrastructure. Invest properly and quickly in the most modern, up-to-date broadband infrastructure money can buy.

    Healthcare: I like Fine Gael’s faircare policy a lot.


  • Registered Users, Registered Users 2, Paid Member Posts: 24,715 ✭✭✭✭Cookie_Monster


    sparksfly wrote: »
    Tax rates may seem low on average, especially when some high and low earners (and all unemployed) pay no tax at all. When you see the lack of services provided in Ireland compared to other countries, from tax revenue, our tax rates, especially for middle earners, are not so low.

    Many other indirect taxes are low also in comparison, and yes services aren't up to standard but it "chicken and egg" to justify more tax you need better services, to get better services you need more tax"
    sparksfly wrote: »
    Property prices in Ireland were allowed to go out of control.
    why should they have been controlled and by whom?
    For many of the already mentioned middle earners who have large mortgages on these overpriced properties, further tax of any kind for this sector of the population is out of the question.
    they only have large mortgage through their own fault, no one made them buy a massively overpriced house with a 100% mortgage
    All you will get is more repossessions which will defeat any benefit that you might expect.
    someone will still own the house and have to pay it, be in investors, private individuals, banks, etc


  • Registered Users, Registered Users 2 Posts: 6,551 ✭✭✭SeaFields


    This concept of substantially cutting the dole to get the long term unemployed into employment is mistimed.

    It would have been a sound move five years ago when there was full employment but these days it is about the only thing that is keeping an awful lot of people above water through no fault of their own.


  • Registered Users, Registered Users 2 Posts: 12,911 ✭✭✭✭whatawaster


    SeaFields wrote: »
    This concept of substantially cutting the dole to get the long term unemployed into employment is mistimed.

    It would have been a sound move five years ago when there was full employment but these days it is about the only thing that is keeping an awful lot of people above water through no fault of their own.

    Social Welfare accounts for a massive percentage of our total Revenue as far as i remember. If it isn't substantially cut there may be no money to pay it at all in a couple of years


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  • Closed Accounts Posts: 9,495 ✭✭✭Mr. Presentable


    Reduce employers PRSI
    Reduce Unemployment payments by 25%
    Reduce rent allowance by 50%
    Bring everyone earning into the tax net
    Build a tunnel to connect us to mainland Europe
    Allow business v business claims in the Small Claims Court


    We need to reduce costs and create an incentive to work. I know people who never worked, even during the period of full employment, because they can have as good a life on welfare as a middle income family, and be able to stay in bed all day! These people need to be incentivised.

    We also need to allow everyone to contribute to the running costs of the state. Minimum wage should only be a short term position for any employee, but they should still make a contribution.

    We need infrastructure, but not just within the island. We need to get traffic onto the island in the first place.

    Small business cannot survive when being used as a credit facility by customers. Currently we are losing tens of small businesses every day, purely because customers can't/won't pay their bills. There needs to be a cheap and easy way of redress.


  • Registered Users, Registered Users 2 Posts: 6,551 ✭✭✭SeaFields


    Social Welfare accounts for a massive percentage of our total Revenue as far as i remember. If it isn't substantially cut there may be no money to pay it at all in a couple of years

    I know that.

    I just hate everyone being labelled as a scrounger or waster when they are on the dole because i know people that worked damn hard all their lives and because of the get rich attitude of the elite in this country, they now find themselves out of work with little prospects ( I include my father in this who worked for 35 years before being made unemployed two years ago).

    At the end of the day this is one BIG fcuking mess created by individuals who will never know whats its like to worry if they will have enough to pay the bills or put food on the table.


    EDIT - Im dragging the thread off topic so will leave it at that.


  • Registered Users, Registered Users 2, Paid Member Posts: 24,715 ✭✭✭✭Cookie_Monster


    Build a tunnel to connect us to mainland Europe

    do you really think the €500bn+ to build this would be justified? never mind maintainance


  • Closed Accounts Posts: 9,495 ✭✭✭Mr. Presentable


    do you really think the €500bn+ to build this would be justified? never mind maintainance

    I have no idea what it would cost, but it would only have to link to the UK, not Spain!

    As an aside, how does your suggestion to increase the speed limit contribute to economic growth?


  • Registered Users, Registered Users 2 Posts: 454 ✭✭KindOfIrish


    No need to invent bicycle. Just copy Denmark to the smallest detail and we will be fine in 5 years time.


  • Closed Accounts Posts: 585 ✭✭✭MrDarcy


    Here's what I'd do, first of all I'd disband the County Enterprise Board structure. I'd then allocate a new budget of 10,000,000 Euro and I'd set up a new team of people called The Enterprise Team. These people would be private sector people who would go into every Social Welfare office on signing on day and set up a desk there beside the queue of people waiting to sign on.

    The theory here would be that in a society, you have people who are leaders, who have business ideas BUT MORE IMPORTANTLY, also have the get up and go to implement these ideas. You also have those who are equally important in the process but are more followers, they prefer to get direction rather than give it, and are in a place in their minds where employment sits better with them than being the employer.

    I'd give this Enterprise Team very specific targets with regard to drawing people out of the dole queue who have good innovative ideas, who are prepared to give them a go. Behind the scenes in all of this, a local IDA unit or some unused government property would have been identified to use as a base for this project in each locality.

    As each business starts up, I'd be marrying up people in the dole queue with the necessary experience with individual businesses. Each local centre would have experienced business people who would give their time in the evenings and on an "on call" basis in a voluntary capacity not unlike like credit union members do.

    I'm not clear on the finer details but I went down with a friend recently to the dole office when he was signing on and I couldn't get over the fact that there was nothing whatsoever in place to target people who might want to get off the dole, I was shocked by that, just sign the card and see ye next month... There were around 300 plus people down there that day, at least 30 people in that queue must have had a good idea that would have been fit to bring to market with a bit of support.


  • Registered Users, Registered Users 2 Posts: 832 ✭✭✭who what when


    Something ive been thinking about for a long time that i really cant see any downside to is this.

    The government should, through their own airline Aer Lingus, do a free flights giveaway every year. Say 10000 free flights throughout western Europe. Obviously aim it at the quieter tourist months such as april or may and at countries that arent generally known for holidaying in ireland.


    When you do the sums you can really see the benifit of!

    The average return flight to western Europe is around €150 of which half is taxes anyway so say each flight costs the government €75 thats a total cost of €750,000.
    Now the benefits, say each customer spends €400 on accomodation, 200 on food, €100 on travel and €100 on general spending.
    Thats €800 altogether and the figures ive used are very very conservative for a weeks holiday in ireland.
    Anyway all and all i reckon those 10000 passenger would spend at least 8 million euro. Its a win win situation for everyone concerned.

    By the way the 10,000 passengers was just to keep the figures simple, it could be any multiple of that. 50k, 100k or even 500k, why not.
    Now please start telling why this is a ridulous idea and how it could never work!


  • Closed Accounts Posts: 19,968 ✭✭✭✭mikemac


    Broadband

    Now with national debt and serious issues like access to heathcare it may seems a frivallous spend.
    But it's an investment.

    I'd say most people on boards are in one of our main cities.
    Many rural areas are still on dial up and it may be years before broadband is national. However, they achieved this in Northern Ireland already.
    But I'm not aiming at the home users yet, we'll get them someday but first:

    At a minimum, every town should have access to broadband. Our town achieved this in 2005, wow and people in cities have this for over five years before
    Many local towns have a business park run and a county enterprise boards.
    Let the vacant units at cheap or even minimal rents to new startups instead of having them sit idle.

    Rent is a killer for many small businesses. With the broadband access they can then network and market their business. And this helps startups away from the main cities where there are fewer options for job seekers

    Hey, maybe this already exists I don't know.


  • Registered Users, Registered Users 2 Posts: 6,551 ✭✭✭SeaFields


    RE - free flights idea.

    Thats familiar. I dunno if it has been mentioned here before or if there is another EU country doing it at present. Prob some EU competition law against it but good idea nonetheless.


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  • Registered Users, Registered Users 2, Paid Member Posts: 24,715 ✭✭✭✭Cookie_Monster


    As an aside, how does your suggestion to increase the speed limit contribute to economic growth?

    brings it in line with most standard European limits

    everyone can get to work faster too :)


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