Budget will be €7billion: Noonan breaks confidentiality on RTE

Where in the name of jaysus are they going to find €7Bn

Is this one of them moves where they exaggerate and then expect us to be relieved when they "only" cut by €5Bn?

gleep wrote: »

Where in the name of jaysus are they going to find €7Bn

Is this one of them moves where they exaggerate and then expect us to be relieved when they "only" cut by €5Bn?

If it is it means all parties are using spin and bullcrap to keep the electorate in the dark about the real figures.
Making sure they all get saved.

Shure they can follow the lefts ideas, up corporation tax and tax the rich.
Problem solved. :rolleyes:

Last one out of the country please switch out the lights

No it is more likely to be the usual bit of shock and awe

- 7bn - OMG WTF BBQ
- 5.5bn - better than 7bn, we don't like it it could be worse

instead of - 4bn promised
- 5.5 bn budget - robbing b*stards etc.

In reality there is no need for such games, it is not as if anybody will react anyway, what would it take to trigger French or Greek style protests in Ireland?
joining the commonwealth?

Well, fair play to Noonan for keeping us informed.

I'm sure FF will be furious at the leak.

whatawaster wrote: »

It should be

€2.5bn off the Public Sector Pay Bill – this is a reduction of about 10%, and should be achieved through redundancies and paycuts. (More too come next year)

€2.5bn off the PS payroll is a lot more than 10%

its already down to around €17bn I think

I would think that the tacking of the HSE would produce significant savings combined with voluntary redeundancy packages and continuing the ISER will se serioud reduction in posts

I think €2 bn might be achievable but it would require the above along with scrapping of certain quangos and examining pensions

€2.5bn off the Welfare bill.
- Similar to UK – no child benefit if household Income over €50,000
- Old Age pension – reduce by 5%, no medical card/other benefits to those with Incomes above €50,000
- Dole – across board cuts of 10%. Sharp reduction in benefits after 6 months and 12 months on dole.
- Reduction in rent allowances

I'd agree with these, not sure if they come to €2.5bn but certainly thats a reasonable target

The other 2 billion should be generated through things like Water Charges, reductions in capital expenditure

I agree but its inevitable that tax changes will occur

I'd imagine at least €1bn from bringing people into tax net etc

Amhran Nua wrote: »

Its not technically being taken out of the economy, since it was taken out in the first place by taxation.

well firstly a lot of it is borrowed not taken in tax

secondly its not like less tax will be taken

so it really is being taken out of circulation...retail etc are going to be really badly hit....this Christmas particularly as people react to the severe budget

ei.sdraob wrote: »

Oh for gods sake

this is like turning down the tap (external money flowing in via debt inflow) and reducing the water falling into a pot with very large holes in it (welfare+public spend)

I am aware of that..perhaps its the way I put my point or perhaps you are misinterpreting me

my point was that we are borrowing to spend and we need to reduce it

Amhran nua wrote:

The borrowings eventually have to be paid back from the tax take.

I am also aware of that, again , perhaps the point is missed

Depends on where the cuts happen.

I think its inevitable that cuts will happen to welfare and changes to tax take which will reduce pretty much everyone's disposable incomes

I am sorry but have we not had enough in this country, people are on there knees, losing houses, getting more and more into trouble with bank managers, money lenders ect ect. This is the time we need to stand up to these people. The Anglo Irish Bank is costing us at least and i mean at least 50 billion euro, for what to save the skins of the goverments mates. We should have insured everyones savings in AIB at the start (it would have cost 2 billion) and let the bank go. The author David mc Williams said lately " to start a econamy we have to start spending not saving", and we as a country are not spending, of which I am also guilty. The goverment are flat out wasting money on make up, drinks parties ect ect. why dont we as a country put a cap on wages of our employees. Mr Cowern gets 240,000 euro a year plus expensise, The President of Ireland gets 300,000 euro a year plus expensise. Barak Obama gets $140,000 a year. See the difference. We are one of the smallest countrys in the world yet we pay ur employees the most. We as a country need to cap wages at 50,000 to 60,000 a year and if they dont wat the job, show them the door. They should be proud to serve our country for the honour of it, Not for Profit.

Ardent wrote: »

But can someone explain to me how in the name of god are they going to achieve it when Harney and Lenihan have said recently that public sector pay will not be touched??

They are lying.

They better be lying, otherwise if they don't follow the UK's example they should be lynched. For economic treason.