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SBP - €4billion required in budget


jacko

Well-known member
Joined
Mar 6, 2009
Messages
2,666
In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be €4 billion.

In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to €3billion

Will it be the Greens rather than FF backbenchers that bring an end to the government ?
 

He3

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Oct 1, 2008
Messages
17,094
Time to reach for the quango hammer.
 

dotski_w_

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Joined
Oct 28, 2004
Messages
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Website
irishpollingreport.wordpress.com
In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be €4 billion.

In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to €3billion

Will it be the Greens rather than FF backbenchers that bring an end to the government ?
in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
 

P.White MMPC

Active member
Joined
Sep 27, 2009
Messages
115
In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be €4 billion.

In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to €3billion

Will it be the Greens rather than FF backbenchers that bring an end to the government ?
Non story, Greens will agree to any figure once its keeps an election at bay
another while longer
 

charley

Well-known member
Joined
Apr 3, 2009
Messages
1,247
Way short,it will be between €6 and €8 billion.
The deficit has to go from 32% to 3% in 3 years and also figure in that the annual tax take will contract by a minimum €5 billion a year until it bottoms at about €15 billion.
Any increases in tax will be cancelled out by the increases in unemployment and emigration. There's another €20 billion to go into the banks in the next 18 months as well.
 

rockofcashel

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Joined
Jan 23, 2005
Messages
7,956
Website
www.sinnfein.ie
in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
I fear it'll be even worse this time though. Before there was a political element.. make it look really bad, so that when they cut less, it won't look so bad. This time, they simply have to cut hard and deep
 

Lennon

Well-known member
Joined
May 9, 2007
Messages
335
Net current spending for 2010 is €47.1 billion. A 10% reduction per annum in this would be a reasonable target for the next few years. The Government need to switch to a zero based budgeting approach to eliminate the huge waste included in this expenditure. Additional taxes of €2 billion would supplement the cost savings of €4.7 billion.
 

Malbekh

Well-known member
Joined
Apr 30, 2009
Messages
3,032
Another issue to take into account is that next year the government were counting on a moderate return to growth to narrow the gap. That ain't going to happen now...
 
L

longshortgrass

in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
Regret to advise that this is not "every year".

The times they are a changing....:roll:
 

grassroots

Well-known member
Joined
Jan 7, 2007
Messages
2,424
in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
Dotski, you will be in power soon enough and then you will get to cut 4-5bn per year for your term in govt, along with some tax raises of course-70% marginal rate of IT? Let see hou your 40 newly minted lobby fodder are going to hack that.
 
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