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Budget 2017 Predictions?

sic transit

Well-known member
Joined
Jan 30, 2008
Messages
25,662
So what's in store next month in the budget? There is supposedly €1bn to play with, although the IFAC argues that it's really €2.5bn that will be spent. That money will be split 2:1 in favour of increased spending over tax cuts.

My predictions.

USC - some form of reduction
Income tax - possible widening of bands, certainly at marginal rate.
VAT - unchanged, even the special rate.
Diesel may take a hit if Ross has his way
Tobacco - Even more punitive taxes on it
Alcohol - Well what's new?
Increased 3rd level funding
First Time Buyers goodies
Minor welfare increase, probably on pensions.

Lots of initiatives, fiddling with a variety of schemes and hopefully some loophole closing.


David Murphy has thoughts on it today.
David Murphy: Don't expect a giveaway Budget - RTÉ News
 


Lumpy Talbot

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Joined
Jun 30, 2015
Messages
26,658
Twitter
No
I have a friend who works at the Bundestag so I already know what's in it.
 

DCon

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Joined
May 5, 2009
Messages
5,901
FF will not want a giveaway as they can blame FG if and when they pull the plug


Denis will do ok
 

sic transit

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Joined
Jan 30, 2008
Messages
25,662
Will the Budget pass?
It should, part of the FF deal and the limited cash means there is less scope to go for something contentious. Prudent and sensible will be the Noonan mantra.
 

Catalpast

Well-known member
Joined
Nov 17, 2012
Messages
26,197
So what's in store next month in the budget? There is supposedly €1bn to play with, although the IFAC argues that it's really €2.5bn that will be spent. That money will be split 2:1 in favour of increased spending over tax cuts.

My predictions.

USC - some form of reduction
Income tax - possible widening of bands, certainly at marginal rate.
VAT - unchanged, even the special rate.
Diesel may take a hit if Ross has his way
Tobacco - Even more punitive taxes on it
Alcohol - Well what's new?
Increased 3rd level funding
First Time Buyers goodies
Minor welfare increase, probably on pensions.

Lots of initiatives, fiddling with a variety of schemes and hopefully some loophole closing.


David Murphy has thoughts on it today.
David Murphy: Don't expect a giveaway Budget - RTÉ News
We will all be given a free Apple....:cool:
 

Catalpast

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Joined
Nov 17, 2012
Messages
26,197
Good question, I'd say it's 50/50. If there is to be an election soon, the electorate will not be impressed.
Fitzgerald's 1st Government fell back in '82 over passing the budget

IIRC over a tax on children's shoes...!!!:shock:

I doubt if Mr Noonan will put his foot in that one....
 

SEAMAI

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Joined
Oct 5, 2011
Messages
2,700
In relation to first time buyers, what about those who bought for the first time since late 2012 but lost out when mortgage relief was done away with?
 

devoutcapitalist

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Joined
Feb 26, 2013
Messages
16,607
Good question, I'd say it's 50/50. If there is to be an election soon, the electorate will not be impressed.
If there is a snap election, FG and FF would possibly be the main parties to benefit as many voters decide they are sick and tired of Independents playing parochial politics (John Halligan comes to mind).
 

Boy M5

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Joined
May 20, 2010
Messages
21,731
Special tax allowances for Malta based media monopolies.
Special tax allowances for midget airline moguls based between arterial car parks at Heathrow, Donabate & Tipp.
Extra special allowances for tech firms with bigger cash piles than most countries GDP, but only if headed by a Paul O'Grady lookalike
Extra extra special allowances for US based vulture funds - Noonan would probably complete his life's work if he could sell the country to them (at a 60% discount)
 

Johnny

Well-known member
Joined
Apr 29, 2004
Messages
1,223
Wasn't there something floated in the government formation negotiations about extending mortgage interest tax relief? Or did I imagine that?
 

Dedogs

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Joined
Jul 17, 2012
Messages
6,294
the rich will get tax cuts and everyone else will be rode....
 

Congalltee

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Joined
Nov 10, 2009
Messages
6,210
There will be a lot of a scaremongering.
People will comment how old Noonan now is.
Michael McGrath will say it was a missed opportunity.
Everyone else will rip it apart.
It will be brexit proofed
It will not be gender or poverty proofed.
 

Uganda

Well-known member
Joined
Aug 17, 2013
Messages
9,633
In relation to first time buyers, what about those who bought for the first time since late 2012 but lost out when mortgage relief was done away with?
Of all the daftest schemes the mortgage interest releof is the daftest one.

There aren't enough houses to go around and making them slightly cheaper for one group will simply push the market up.
 

luggage

Well-known member
Joined
Jul 1, 2010
Messages
608
Of all the daftest schemes the mortgage interest releof is the daftest one.

There aren't enough houses to go around and making them slightly cheaper for one group will simply push the market up.
Is not that the whole point?
 

Voluntary

Well-known member
Joined
Nov 8, 2015
Messages
2,865
So what's in store next month in the budget? There is supposedly €1bn to play with, although the IFAC argues that it's really €2.5bn that will be spent. That money will be split 2:1 in favour of increased spending over tax cuts.

My predictions.

USC - some form of reduction
Income tax - possible widening of bands, certainly at marginal rate.
VAT - unchanged, even the special rate.
Diesel may take a hit if Ross has his way
Tobacco - Even more punitive taxes on it
Alcohol - Well what's new?
Increased 3rd level funding
First Time Buyers goodies
Minor welfare increase, probably on pensions.

Lots of initiatives, fiddling with a variety of schemes and hopefully some loophole closing.


David Murphy has thoughts on it today.
David Murphy: Don't expect a giveaway Budget - RTÉ News
also:
1. We should see some tax initiative encouraging private landlords to stay in the market and new private investors to enter.
2. Reduced Capital Gains Tax rate to make it competitive internationally.
3. Maybe marginal Income tax rate increased
 

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