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About LinkBacksThat's a huge proportion of total budget. Does anyone have figures for other countries ?
That's a huge proportion of total budget. Does anyone have figures for other countries ?
35 billion isn't wages? That sounds high to me. How much is welfare?
"Who will bailout the IMF after FF is finished with them?"
Welfare spending has to fall - Minister - The Irish Times - Sun, Oct 18, 2009
20bln is welfare
20bln (according to the OP) is wages
That leaves 15bln for everything else.
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"Who will bailout the IMF after FF is finished with them?"
Originally Posted by seabhcan
Savage cuts a comin' That or the IMF. Prepare for unrest.
Bunch of idiot childish clowns running a country into such an idiotic state. Really, the decisions were stupid and short sighted from the get go. Why didnt any logical, free thinker prevail?
If only it were that simple.
Unfortunately, there is no combination of things that can be cut to make much of a dent in this. We are 60% over budget. We would need to find 21bln of savings - but if you cut that much, spending and tax take would drop.
Ireland is like a business where its only customers are also its employees.
"Who will bailout the IMF after FF is finished with them?"
My guess is the income levy will be removed, and income tax increases of about 15% on both tax bands. Donīt plan any expensive holidays folks.
I doubt it.
The will cut some social spending by about 10-20%. They will cut public sector wages by 5%. They will claim about 4bln of savings, but the net will be much less because of a lowered tax take.
This is FF we are talking about - they will make cosmetic changes and hope it works out in the end.
Of course, this is all before NAMA - we will need to find 850 million in interest repayments on the NAMA borrowing next year.
"Who will bailout the IMF after FF is finished with them?"
[QUOTE=seabhcan;2207312]I doubt it.
The will cut some social spending by about 10-20%. They will cut public sector wages by 5%. They will claim about 4bln of savings, but the net will be much less because of a lowered tax take.
This is FF we are talking about - they will make cosmetic changes and hope it works out in the end.
Of course, this is all before NAMA - we will need to find 850 million in interest repayments on the NAMA borrowing next year.[/Q
Time for the unions to grow up and look at this in a mature fashion but listening to their not an inch rhetoric is frightening. Election after budget leaving someone else to clean up after the party. Please God though let something happen to derail NAMA.
And I promised I would not depress myself today...
Social Welfare is €22billion
Public Sector pay €19.5billion.
The rest €13.5billion.
And according to the Labour Party and Unions for example any cuts should only come from the €13.5billion and increased taxes where the marginal rate of tax/social insurance is now over 50% already!!!
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