FT : Ireland’s budget position worsens

Dreaded_Estate

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FT.com / Europe - Ireland

Ireland’s budget position looks set to worsen with figures due out on Monday showing this year’s deficit will be 11.9 per cent of national income not 11.6 per cent as previously expected.

Officials say the deterioration is the result of a slowing economy rather than a reduction in projected tax receipts.

It nonetheless increases the pressure on Ireland, the most fragile of the eurozone economies after Greece. It also adds to the headaches of the Fianna Fáil-led coalition as it prepares next year’s budget, which it will announce on December 7.

Brian Lenihan, the finance minister, said last month there would have to be a “minimum” of €3bn ($4.1bn) of savings in this year’s budget, representing about 2 per cent of gross domestic product.
 


MPB

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But Brian Lenihan promised us growth in the second half of the year.

Of course the fact that this economy would get worse because of the Banking and personal debt situation was obvious to many on this site at the time of the last budget and was pointed out at the time. But of course we were accused of talking down the economy.

These problems have still not been addressed and have in fact been made worse by current Govt policy. So expect things to deteriorate further until a Govt not tied to the mistakes of the past has been put in place.
 

Cassandra Syndrome

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Cassandra Syndrome

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Broadly speaking 4:30pm I mean
 

lambscross

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medical cards

why no consideration to reducing upper limit of 72000 euro for married couple ? Is this figure too low?
 

EmigratedTBTF

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The whole world knows of the incompetence,corruption , cronyism, people moving their money offshore , transferring ownership of property to family members , not bothering to pay their taxes or loans , the elites are making the middle class peasants and future emigrant rearing parents while the rich still live the good life.wake up and smell the BS emanating from all political parties , revolution required.
 
Joined
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The whole world knows of the incompetence,corruption , cronyism, people moving their money offshore , transferring ownership of property to family members , not bothering to pay their taxes or loans , the elites are making the middle class peasants and future emigrant rearing parents while the rich still live the good life.wake up and smell the BS emanating from all political parties , revolution required.

Good post.
 


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