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Thread: Govt DEFICIT stands at 5.6 BILLION

  1. #1
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    Govt DEFICIT stands at 5.6 BILLION

    come out ye FF'ERS where ever ye are and spin your way out of this one!

  2. #2
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Brian Cowen, eh?
    Couldn't run an economy up to this.

    But he can run it now?

  3. #3
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Quote Originally Posted by Deep Throat
    come out ye FF'ERS where ever ye are and spin your way out of this one!
    1) There were lower tax receipts mainly due to the poor performance of VAT and capital gains tax.
    2) Government spending was €205m below predictions with underspends in Foreign Affairs, Education and Transport. So the good work has already begun.
    3) The Government will take firm action now to ensure the public finances in the years ahead are kept on a sustainable footing. Ie they will take advantage of media hype by introducing cut backs.
    4) The governement did plan for a deficeit, however due ro revenue drops there is an €1.5Bn to date, which will amount to €3.5Bn+ by year end.
    5) Growth outside the housing market is over 4%. So the fundamentals remain sound - but housing is not going to improve this side of the internatioanl credit crunch.
    6) The expected growth is going to be 0.5% for the full year. So not techically in recession, but forget technicalities.
    7) There will need to be strict spending controls, extra borrowing for capital spending, and savings in other departments to cover increased unemployment payments.
    8) The social partners will have to accept this new reality.

    I feel dizzy.
    We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns — the ones we don't know we don't know.

  4. #4
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    Re: Govt DEFICIT stands at 5.6 BILLION

    RTE just stated that no one from the government is at the announcement - only department officals to take questions from journo's!!!???
    “A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living”
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  5. #5
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    Re: Govt DEFICIT stands at 5.6 BILLION

    we well and truly have a SLUMP COALITION running the country!

    maybe if the taoiseach keeps shouting and roaring everything will get better!

  6. #6
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Quote Originally Posted by returning officer
    2) Government spending was €205m below predictions with underspends in Foreign Affairs, Education and Transport. So the good work has already begun.
    .

    Oh great!!! We;re spending less on transport and education. Where's the FFer on my ballot paper to out my no.1 beside!!!
    And you ************************************s call that "good work"
    Go out into ireland some day, the one the rest of us live and work in.
    We need to radically change every system that has enabled the wholesale destruction of the Irish landscape, rural and urban. There is no time for incremental step by step measures. The systems have failed utterly and the only hope for a real recovery requires the rule book to be torn up completely.

  7. #7
    Politics.ie Member FutureTaoiseach's Avatar
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Surely now is the time for the govt to realise that neokeynesian economics do not work. Since 2002 and especially after McCreevy got the chop in 2004 the Left of FF have led us down this destructive path with their negative attitude to taking on vested interests in the public sector and their demands for ever higher spending without public-sector reform.

  8. #8
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Quote Originally Posted by FutureTaoiseach
    Surely now is the time for the govt to realise that neokeynesian economics do not work.
    I'm really really really hoping you're not about to extol the virtues of a Friedman like approach!!!!
    "Truth, in the matters of religion, is simply the opinion that has survived" - Oscar Wilde

  9. #9
    Politics.ie Member FutureTaoiseach's Avatar
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Quote Originally Posted by silvamuppet
    Quote Originally Posted by FutureTaoiseach
    Surely now is the time for the govt to realise that neokeynesian economics do not work.
    I'm really really really hoping you're not about to extol the virtues of a Friedman like approach!!!!
    And why not.

  10. #10
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    Re: Govt DEFICIT stands at 5.6 BILLION

    Quote Originally Posted by alonso
    Quote Originally Posted by returning officer
    2) Government spending was €205m below predictions with underspends in Foreign Affairs, Education and Transport. So the good work has already begun.
    .

    Oh great!!! We;re spending less on transport and education. Where's the FFer on my ballot paper to out my no.1 beside!!!
    And you ********* ********* call that "good work"
    Go out into ireland some day, the one the rest of us live and work in.
    Actually we are spending more on Foreign Affairs, transport and Education than we did last year, we planned to spend even more but in fact we spent €200m less than we intended (please try to keep up).
    We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns — the ones we don't know we don't know.

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