nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Weighting of Budget 2011 Adjustments??

Niall81

Hi,

We are all well aware of the amount of our adjustment, €6 Billion this year, but what split between cuts in expenditure and increased taxes do you think would work?

I believe a 30% cut in spending, with a 70% increase in taxes i.e. €1.8 billion and €4.2 Billion We have seen that the savings rate has jumped recently, and we are "told" that we live in a low tax society so i guess there is more scope here than to reduce expenditure. Obviously the weighting is going to have an influence on the economy's performance next year, what would you think would work?

Find more posts tagged with

ireland

budget

brian lenihan

2011

cowen

Quick Links

Comments

oppenheimer1

The weighting has been released, its 4:1 cuts to tax rises. FG agree with this strategy while Lab think the 6bn is too much for one and believe in a 1:1 ratio of cuts vs tax rises.

johnnyskeleton

I wonder if they will stick to that. After all, increasing taxes is a relatively easy political choice but bad for the economy.

FF don't exactly have a good track record of doing what is good for the economy but which is politicially unpopular (despite their talk of tough decisions etc).

rumour

oppenheimer1 wrote: »

The weighting has been released, its 4:1 cuts to tax rises. FG agree with this strategy while Lab think the 6bn is too much for one and believe in a 1:1 ratio of cuts vs tax rises.

Any chance of a link to the release? Curious about this one.

Denerick

In times of crisis its better to cut spending than raise revenue. Raising taxes in a period of depression may only result in less taxes been brought in - or if you like, it will have a depressive effect overall on revenue streams. Ireland's state has an enormous amount of fat it can cut - built up over years of booming profligacy. If the government actually had balls it could cut in such a way that would not harm the average taxpayer. But of course it won't. Expect short sighted cuts in school buildings and university funding whilst public sector workers and pensioners get off scott free.

Max Power1

Niall81 wrote: »

Hi,

We are all well aware of the amount of our adjustment, €6 Billion this year, but what split between cuts in expenditure and increased taxes do you think would work?

I believe a 30% cut in spending, with a 70% increase in taxes i.e. €1.8 billion and €4.2 Billion We have seen that the savings rate has jumped recently, and we are "told" that we live in a low tax society so i guess there is more scope here than to reduce expenditure. Obviously the weighting is going to have an influence on the economy's performance next year, what would you think would work?

Good god I hope thats proven wildly innaccurate!

Talk about killing the tax intake! It would make it worthwhile for more people to not work and be on the dole than it already is!

Edited to add: We should be cutting frivolous expenditure, like our over the top rates of JSA and non contributory pensions.

johnnyskeleton

Denerick wrote: »

In times of crisis its better to cut spending than raise revenue. Raising taxes in a period of depression may only result in less taxes been brought in - or if you like, it will have a depressive effect overall on revenue streams. Ireland's state has an enormous amount of fat it can cut - built up over years of booming profligacy. If the government actually had balls it could cut in such a way that would not harm the average taxpayer. But of course it won't. Expect short sighted cuts in school buildings and university funding whilst public sector workers and pensioners get off scott free.

Well the time to cut the waste was in the period 1997-2007. Yet they did the opposite, they increased the waste. So even if they bring spending back to the level it was when FF took office, there is still waste to cut.

ISAW

johnnyskeleton wrote: »

Well the time to cut the waste was in the period 1997-2007. Yet they did the opposite, they increased the waste. So even if they bring spending back to the level it was when FF took office, there is still waste to cut.

Not really. If all public spending ( particularly pay) was restored to 1997 levels I think we would probably not even need tax increases.

ISAW

rumour wrote: »

Any chance of a link to the release? Curious about this one.

i did read an interview with Leo Varadkar where he mentioned FG wanting a four to one and Lab
our wanting parity and maybe they could meet at two or three to one.

skstretch

ISAW wrote: »

Not really. If all public spending ( particularly pay) was restored to 1997 levels I think we would probably not even need tax increases.

that would really help the public sector pay back there mortgages nd loans!!!