"The power of accurate observation is commonly called cynicism by those who have not got it." – George Bernard Shaw
If you break down this list, I think you will find that bar food, legal and mortage costs, the rest are in the direct control of the State and have been driven higher by the Government policies of pushing up wages in the State and Semi-State sectors to unstustainable levels.
But then it was also government policies and lack of regulation and enforcement on the finance sector that allowed property prices and thus mortgage costs to rise to unsustauinable level.
Legal costs have also been driven up by the State due to the high levels it is willing to pay to solicitors and barristers, ie Legal Aid and Tribunals.
And finally, all of the above feed into the price of production and distribution of food and thus higher food prices in the shops.
The policies of the FF-led governments over the last 13 years are directly responsible for our high cost base and the erosion of the tax base.
Dear oh dear. Its perfectly simple. Before the credit crunch started, the exchequer was running a budget surplus. Once private sector credit contracted and M3 money supply decreased in late 2007, because of the Credit Crunch, businesses began to suffer. Sales fell, income fell, tax receipts fell, the deficit started in early 2008 as a result of the credit crunch. From this month on our deficit will be 500 Million a week on average even before the Bank Caps.
This is all because of the CREDIT CRUNCH.
The CREDIT CRUNCH is because of reducing liquidity from THE BANKS
QED
"No one rules if no one obeys" - Tao
"Irish citizens . . . on ratification of the Treaty could be forced to become Euro soldiers." Sinn Féin claim on Maastricht in 'Democracy or Dependency' p.6. in 1992.
Please my friend.
Instead of tucking away a once in a generation short term revenue stream for the rainy day the ff/pd government went on a reckless spending spree and worse still one with huge long term commitments to buy at least 2 elections. They are soley responsible for the government deficit, it was pointed out on many message boards at the time exactly where we were going to end up.
Joe Soap says enough is enough...............
Are you suggesting the minimum wage should be abolished? If you are then it is you who is deluded. The minimum wage in Ireland and elsewhere is here to stay. It is, and is going to be, a permanent feature of societies. So get used to it. It ain't going away anymore than rules preventing exploitation of children in work environments, laws protecting minorities against discrimination, protection of workers' rights, women's rights, gay rights etc are going away. They are going to be remain permanent features of life.
"Irish citizens . . . on ratification of the Treaty could be forced to become Euro soldiers." Sinn Féin claim on Maastricht in 'Democracy or Dependency' p.6. in 1992.
Funny.
I thought it was because taxes were being raised on spending using BORROWED money.
No one can borrow indefinitely so it had to dry up at some stage.
It was unsustainable income being used to fund day to day spending increases.
In short its not all Lehman bros fault.