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Fiscal Council gives upbeat assessment - "Austerity over by 2015"


hiding behind a poster

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Interesting to see this on the RTE website, and not at all surprising to find no mention of it yet on politics.ie - but basically the Fiscal Council, who are normally fairly hawkish, have today said the following:

The Fiscal Advisory Council - the statutory body charged with assessing and advising on the Government's budget policy - says the Government deficit should be close to 2% by 2015. This is significantly better than the Budget day forecast of just under 3%. A lower deficit last year than expected and the impact of the promissory note deal have both changed the arithmetic used to frame the Government's budget plan. The Fiscal Advisory Council has reworked the numbers taking these facts into account, and it says they will significantly improve the budget deficit situation in the years ahead.
Anyway there's plenty more in the story, linked here:

No need for extra fiscal measures, says Council - RTÉ News

And a particularly interesting remark is from the FC chairman John McHale, who says that while the economic outlook is challenging, by 2015 there "should be some room for pay increases, or tax cuts and increases in social welfare benefits."

I'd expect most posters to be devastated by this report.
 


henryhill

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Let me guess. Are they still replying on growth resuming "next year"? Are they taking into account another hole in the banks or further deterioriation in arrears?
 
D

Dylan2010

And Im sure the drones on that council have their own hedge fund betting billions on a global recovery for the next decade because its a dead cert :roll:
 
D

Deleted member 17573

So, why do we need to breach CPA1 and why do we need property tax and health cuts and education cuts etc etc?
 

Honecker

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You have to give the peasants a bit of light at the end of the tunnel. Otherwise they might get rowdy.
 
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hiding behind a poster

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Let me guess. Are they still replying on growth resuming "next year"? Are they taking into account another hole in the banks or further deterioriation in arrears?
Why don't you read the link?
 

Keith-M

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Taxpayer paid and Government buddy quango bull************************ters tell the government what it wants to hear and FG nodding donkeys think it's a story. Go tell it to the Avon ladies.
 

The Field Marshal

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Interesting to see this on the RTE website, and not at all surprising to find no mention of it yet on politics.ie - but basically the Fiscal Council, who are normally fairly hawkish, have today said the following:



Anyway there's plenty more in the story, linked here:

No need for extra fiscal measures, says Council - RTÉ News

And a particularly interesting remark is from the FC chairman John McHale, who says that while the economic outlook is challenging, by 2015 there "should be some room for pay increases, or tax cuts and increases in social welfare benefits."

I'd expect most posters to be devastated by this report.
This so called Fiscal Council has little credibility.

It is a statutory funded agency of the Irish quisling govt and is therefore not independent of their policy.

Anything it publishes has to be treated with extreme caution and suspicion.
 
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hiding behind a poster

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Taxpayer paid and Government buddy quango bull************************ters tell the government what it wants to hear and FG nodding donkeys think it's a story. Go tell it to the Avon ladies.
All ten of them? Well this thread is going largely as expected.
 

Analyzer

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Wow. A state quango is now telling us that there will be no hardship in 2015.

And the "news" is being relayed to us from the state propaganda quango, which never endures any recession.

These quango wasters never have to endure any austerity.

May as well be asking Fingal Council.

Irish Fiscal Advisory Council
 

Sense 0f Wonder

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Sounds like the FAC is doing its job really well.

(Its job being to provide supportive PR for continued austerity and the huge transfer of wealth from ordinary Irish people into the hands of bankers.)

Good job guys.

Remember to make the next report a little more critical.. just for dramatic tension like! :D
 

corelli

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People are getting sick of good macro economic news. They want good micro economic news. Ie, more cash in their pocket, not more going out of it.

I know one follows the other but the micro is where the politics are at, especially with labour.
 

The Field Marshal

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Well done to our leaders in the IMF and EU.
Surely its their quisling collborators in the Irish govt you ought to be er congratulating.

That is if you have any faith in the credibility of any govt funded institution to tell the truth about Irelands financial affairs.
 

Analyzer

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Did they make any suggestions about quangos that need to be closed down ?

FAC off.
 

The Field Marshal

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All ten of them? Well this thread is going largely as expected.
Once again you belittle and sneer at the unemployment misfortunes of others.

Yes this thread is going as expected.:roll:
 

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