• It has come to our attention that some users may have been "banned" when they tried to change their passwords after the site was hacked due to a glitch in the old vBulletin software. This would have occurred around the end of February and does not apply after the site was converted to Xenforo. If you believe you were affected by this, please contact a staff member or use the Contact us link at the bottom of any forum page.

My Budget proposals


murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
Dont pay bonds €5bn bonds to IBRC in 2013.
Pull the €1.1bn that AIB used to top up its pension fund. This is a once off saving.

Better use of procurement (€150m), increases in charges for private beds in public hospitals (€270m) and better use of generic drugs (€280m). It also seems reasonable to temporarily not pay out the €170m in public sector pay increments planned for 2013.

Reduce the Group A threshold on Capital Acquisitions Tax from €250,000 to €200,000, Reduce Business Relief for Capital Acquisitions Tax from 90% to 50%, Reduce Agricultural Relief for Capital Acquisitions Tax from 90% to 50% Introduce a €2.5 million ceiling on the qualifying amount for Business Relief and Agricultural Relief, Apply PRSI to rental income, Abolish the rent-a-room relief, Abolish relief for Employee Share Ownership Trusts, Confine tax relief to the standard rate of 20% in respect of pension contributions to occupational pension schemes, retirement annuity contracts and personal retirement savings accounts and confine tax relief for the public service pension related deduction to the standard rate of 20%, Reduce the tax exemption for lump sum pension payments to the level of the average industrial wage with the balance taxed at the marginal rate of income tax. €299m per annum

A curtailment of certain pension tax reliefs which will yield approximately €760m per annum for the exchequer. Reduce the level at which persons and companies may claim interest repayments against tax for residential rental properties from 75% to 40% taxation of wealth and an equitable net equity property tax model which takes into consideration ability to pay and stamp duty paid.

Reform to taxation on high earners yielding almost €150m. Introduce a third band of employer’s PRSI contributions at 15% charged on the portion of salaries above €100,000, Extend the additional USC of 3% to all income earners, affecting the portion of salaries above €100,000.

The exchequer could save €50m a year if child benefit was abolished for children of school going age and replaced by a school attendance payment.
Reduce numbers of TD's by half €25m
Rationalisation of state agencys €20m
Reduction in subvention to Horse and Greyhound Fund €10m
Reduction in State professional and consultancy fees €20m
Abolish Green diesel exemption and replace with a fuel rebate to reduce revenue loss from illicit trade €100m
Put the free telephone rental scheme out to tender €20m
Reduction in Legal aid fees €10m
Stop overseas aid payments until we are on a sustainable footing €640m
Cap public sector pensions at 48,000€ €17m
Tax on betting shop profits, added sugar, added salt, added fats, cigarettes and alcohol cumulatively yield over €480m per annum.
Financial transaction tax could raise €750m.
Tax and regulate the sale of cannabis to those over 21 years old €500m (not costed by the department of finance)
Stop the anomoly where women receive 262€ from the state of which they do not pay tax on and get the balance paid by their employers, while on maternity leave (of which they pay less tax on than they normally would) 40€m


Total savings €10,361m

Other good proposals which i've seen from people on this thread:
Rent a Room relief cut from €10,000 to €1000
5% rise in car tax from bands (D)
Change rights to natural resources (royalties) not costed

permenantly stop Increments for earners over €52,000 to cease
All public sector (non pay related) allowances to be halved/ abolised
All public sector pensions to be capped at €100,000
All public sector expenses to be vouched
All milage expenses to be capped at €17,500 pa
All mobile phone expenses capped at €3500 pa
Merger or abolishment of unnessary "Quangos"
Surplus of staff will be (a) redeployed (b) offered redundancy package

Bonus Tax
1st 10,000 exempt
Next €54,000 @ 23%
Balance @ 40%


Social Welfare
Means Test for the childrens allowance and tax earnings over the caps.
(To qualify)
Single gross household income of under €65,000 pa.
Two earners gross income of under €90,000 pa.
Children with disability/ special needs exempt.
Children must be resident in the state.
Rates frozen at €130 per child.


€4.5 billion be taken from the National Pension Reserve Fund over the next four years to fund targeted strategic investment in specific projects identified for their high potential to contribute to the economy’s ability to generate long-term growth.
 
Last edited:

councilkid

Well-known member
Joined
Mar 18, 2010
Messages
1,332
That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site? :)
 

ruserious

Well-known member
Joined
Jan 3, 2011
Messages
29,597
Pensioners get off scott free again :roll:
 

murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site? :)
They have all been costed by the department of finance, if someone disputes them, they can post their sources.
 
Last edited:

BlackLion

Well-known member
Joined
Oct 21, 2010
Messages
4,856
That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site? :)
Reminds me alot of SF and ULA own budgets. :) The brothers grimm fairytales have more truth in their books.
 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
46,201
Dont pay bonds €5bn bonds to IBRC in 2013,
pull the €1.1bn that AIB used to top up its pension fund. This is a once off saving.
We have descended to the point in this society where public discussion of this obvious solution is never entertained.

It would offend our "EU partners" (and to specific the banks that back the politicians running some of them).
 
Last edited:

dunno

Well-known member
Joined
Jan 29, 2009
Messages
1,285
Not paying bonds without European agreement will simply mean it will be very hard for this country to borrow. Presumably you mean getting agreement from ECB and other relevant parties to not pay the bondholders. All Ireland has over them is a possible threat to banking sentiment if it wants to be belligerent. They can step on this country. We might be able to cause trouble in return.
 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
46,201
Not paying bonds without European agreement will simply mean it will be very hard for this country to borrow. Presumably you mean getting agreement from ECB and other relevant parties to not pay the bondholders. All Ireland has over them is a possible threat to banking sentiment if it wants to be belligerent. They can step on this country. We might be able to cause trouble in return.
Unbelievable horse manure from the school of "thought" that assumes that if we should be really grateful to be afraid of the morons running the EU.

We don't need permission from failed gamblers, the politicians that they "own", or the clowns running the ECB, to hold on to our own taxes.

It is called capitalist consequences for capitalist misadventure. It is designed to deal with clueless morons hired by French insurance companies who bought into the Seanie Fitz story.

The payment of the billions needlessly to the Anglo Bondholders, increases the certainty that this country will eventually default on it's debts.
 

TommyO'Brien

Well-known member
Joined
Jan 14, 2009
Messages
12,222
Dont pay bonds €5bn bonds to IBRC in 2013,
pull the €1.1bn that AIB used to top up its pension fund. This is a once off saving.

Better use of procurement (€150m), increases in charges for private beds in public hospitals (€270m) and better use of generic drugs (€220m). It also seems reasonable to temporarily not pay out the €170m in public sector pay increments planned for 2013.

Reduce the Group A threshold on Capital Acquisitions Tax from €250,000 to €200,000, Reduce Business Relief for Capital Acquisitions Tax from 90% to 50%, Reduce Agricultural Relief for Capital Acquisitions Tax from 90% to 50% Introduce a €2.5 million ceiling on the qualifying amount for Business Relief and Agricultural Relief, Apply PRSI to rental income, Abolish the rent-a-room relief, Abolish relief for Employee Share Ownership Trusts, Confine tax relief to the standard rate of 20% in respect of pension contributions to occupational pension schemes, retirement annuity contracts and personal retirement savings accounts and confine tax relief for the public service pension related deduction to the standard rate of 20%, Reduce the tax exemption for lump sum pension payments to the level of the average industrial wage with the balance taxed at the marginal rate of income tax. €299m per annum

A curtailment of certain pension tax reliefs which will yield approximately €760m per annum for the exchequer. Reduce the level at which persons and companies may claim interest repayments against tax for residential rental properties from 75% to 40% taxation of wealth and an equitable net equity property tax model which takes into conderation abulity to pay and stamp duty paid.

Reform to taxation on high earners yielding almost €150m. Introduce a third band of employer’s PRSI contributions at 15% charged on the portion of salaries above €100,000, Extend the additional USC of 3% to all income earners, affecting the portion of salaries above €100,000.

The exchequer could save €50m a year if child benefit was abolished for children of school going age and replaced by a school attendance payment.
Reduce numbers of TD's by half €25m
Rationalisation of state agencys €20m
Reduction in subvention to Horse and Greyhound Fund €10m
Reduction in State professional and consultancy fees €20m
Abolish Green diesel exemption and replace with a fuel rebate to reduce revenue loss from illicit trade €100m
Put the free telephone rental scheme out to tender €20m
Reduction in Legal aid fees €10m
Stop overseas aid payments untill we are on a sustainable footing €640m
cap public sector pensions at 48,000€ €17m
Tax on betting shop profits, added sugar, added salt, added fats, cigarettes and alcohol cumulatively yield over €480m per annum.
Financial transaction tax could raise €750m.


Total savings €9,781m

€4.5 billion be taken from the National Pension Reserve Fund over the next four years to fund targeted strategic investment in specific projects identified for their high potential to contribute to the economy’s ability to generate long-term growth.
Many of your proposals are unconstitutional. A number are against EU law. Many would be thrown out in any court challenge and none have any actual costing.
 

hiding behind a poster

Well-known member
Joined
Mar 8, 2005
Messages
48,238
Guaranteed bonds paid for as long as we can , unguaranteed bonds burned everytime we see one. See how the books balance after six months.
Why shouldn't unguaranteed bonds be paid as they mature? Do you even know what they are? And what would be the consequences of not paying a debt as it falls due?
 

murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
Many of your proposals are unconstitutional. A number are against EU law. Many would be thrown out in any court challenge and none have any actual costing.
No they are not. they are all proposals which are currenTly in ULA, TASC, Fianna Fail, Sinn Feins or an independants budget proposals.

If you are going to state any of my proposals are unconstitional then please tell me which one and why,
if not your wasting your time commenting with such a vague statement.

I also dont know how you can state that those proposals would not succeed in defending a court challenge, that is impossible to know and if that was correct the party who costed and proposed the idea would have been challenged by someone, I suspect they have not because unlime you no sane person would assume to know whether a supreme court would rule in favour or against a bugetary matter.
 

murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
Why shouldn't unguaranteed bonds be paid as they mature? Do you even know what they are? And what would be the consequences of not paying a debt as it falls due?
You should read Brian Lucy's article on this and you will see (damm all would happen) I dont claim to be an expert but i read who i view to be the experts and they say don't pay them.
 
Last edited:

Burnout

Well-known member
Joined
Oct 7, 2009
Messages
7,275
Twitter
I have a life.
Fair dues to murtaep for at least making the effort. Some of it makes sense, other parts should at least be looked at and......ah no lets not do that, Knock him for 6 then and come up with every possible negative point you can find. he's probably a shinner. Well done Irish. Stay in the hovel and tip your cap to the betters that will tell you what to do and how to lead your life.
 

hmmm

Well-known member
Joined
Oct 4, 2006
Messages
2,834
Looks like an awful lot of extra taxes and hidden charges. We already have a financial transaction tax. The 5bn (actually 3bn) is being worked on in negotiations. Cannabis should obviously be made legal, although I doubt 500m is on offer in taxes.

Despite being quite right wing, I really hate this idea that we should stop our already meagre contribution to try and help those overseas who are starving, because we are in such dire straits we "need" to spend the money on public sector administrators earning 100k+, child benefit for the families of millionaires and taxbreaks for property buyers.
 

murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
Looks like an awful lot of extra taxes and hidden charges. We already have a financial transaction tax. The 5bn (actually 3bn) is being worked on in negotiations. Cannabis should obviously be made legal, although I doubt 500m is on offer in taxes.

Despite being quite right wing, I really hate this idea that we should stop our already meagre contribution to try and help those overseas who are starving, because we are in such dire straits we "need" to spend the money on public sector administrators earning 100k+, child benefit for the families of millionaires and taxbreaks for property buyers.
Thats incorrect the 5bn consists of 3.1bn in anlgo pro notes and 1.9bn in interest, this has been taken directly from Stephen Donnelly (Irish independant article on Sunday read it and enlighten yourself) (who questioned minister Noonon on it).

I did not include the cap on people earning over 100k in teh public sector as I could not find accurate costings on it.
I did not include the child benifit tax or salary limit for child benefit as although I do believe it has merit it is quite unpopular and my goal is to show that there are ways which the majority of people would agree with.

I cant argue with the 500m (I did say it want costed so you are stating the obvious) as I don't know for sure, this figure is an estimate from Luke Flannagan, he has studied it in depth.

Of course there is alot of taxes, how else do you think the deficit can be close (has to be cuts and taxes we cant grow money trees's)
 

libertarian-right

Well-known member
Joined
Apr 23, 2007
Messages
2,492
Many of those ideas are wildly over-estimating the savings. Can you provide your calculations? Financial transaction tax would be insane to implement if UK aren't game ball.
 

murtaep

Well-known member
Joined
Jun 6, 2011
Messages
329
Many of those ideas are wildly over-estimating the savings. Can you provide your calculations? Financial transaction tax would be insane to implement if UK aren't game ball.

How can you say they are over-estimated? If you dont have the figures?

They have all been costed by the department of finance, (excluding the cannabis one)

All of them can be found on the web, I dont have time to post all the releveant links, pick one and search for it, if you find me to be wrong prove it.
 

hmmm

Well-known member
Joined
Oct 4, 2006
Messages
2,834
Thats incorrect the 5bn consists of 3.1bn in anlgo pro notes and 1.9bn in interest, this has been taken directly from Stephen Donnelly (Irish independant article on Sunday read it and enlighten yourself) (who questioned minister Noonon on it).
That 1.9bn comes back to the exchequer. The 'loss' is the 3.1bn.

Of course there is alot of taxes, how else do you think the deficit can be close (has to be cuts and taxes we cant grow money trees's)
Most of your proposals are new taxes. Where's the cuts to social welfare? Cuts to child benefit? Cuts to PS salaries (other than increments which everyone outside of Labour agrees are a disgrace)? Cuts in the cost of running government?
 
Top