Emergency Budget on the Horizon?

[the-analyst2007]

Emergency Budget on the Horizon?

Given the current state of the public finances, what are the chances of an emergency budget before the the next due one in Dec 2008?

Reading beteen the lines of both Fine Gael and Labour press releases, it seems there could be political consensus on such a move.

Fine Gael: Biggest ever slump in public finances has happened on Cowen's watch - Bruton
http://www.finegael.ie/news/index.cfm/t ... /pkey/653/

Labour: 2007 exchequer returns make nonsense of budget arithmetic - Burton
http://www.labour.ie/press/listing/1199 ... 93684.html

[rockofcashel]

Things aren't that bad .. yet

[smiffy]

Emergency Budget on the Horizon?

Given the current state of the public finances, what are the chances of an emergency budget before the the next due one in Dec 2008?

Zero. Even if there was any intention to cut public spending in 2008 to a lower figure than that proposed in the December Budget - which is unlikely - this could be done in any case when the revised Estimates are published and voted on in February or March, as happens every year.

If you're going to try and get a rumour going about something, at least try and know a little bit on the subject you're talking abot.

[the-analyst2007]

Im glad that FG and Lab are on tune for the need for a very big re-adjustment.

There is real need for some serious fat to be burned of this beast in the next 24 months.

[Halo]

I honestly have the feeling that we wont be seeing FF for a long time after the next election.

[kerrynorth]

There won't be any mini-budget but if the scenario I have outlined comes to pass then there will most definitely be spending cutbacks in the second half of the year. After the referendum.

[youngdan]

I have predicted that Magic Arse will be introducing this on Feb 14 for the last 3 months. He is the only one so thick that he can not see this.

[SPN]

Things aren't that bad .. yet

You can sing it!

Wait 'til you see the carnage that is coming in the Financial Markets this side of April

[rockofcashel]

so.. do I sell all my shares

or buy more ?

or wait till after April ?

or go borrow a gigantic amount of money and hope the banks get ripped apart in the carnage and will be unable to find my details after

or

start casing the closest supermarket to loot

Are we fukced yet ?

[Auditor #9]

Is there a precedent?

(well done on the gold, dan)