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Thread: Public Finances 2009 Thread

  1. 3rd February 2009, 03:01 PM #1
    kerrynorth
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    Public Finances 2009 Thread

    January figures are due out at 4.30pm. The SBP stated at the weekend that it will be down to circa €4billion from €4.6billion last year. The budget figures, which the government themselves now accept are a joke, forecasted tax revenues of €41billion for 2009. I am estimating €35billion if there are no further tax changes.

    Uniquely the Dept of Finance have not published the monthly revenue and expenditure profile prior to the January returns. This is ominous as it tells me that the Dept have given up on forecasting having made muppets of themselves in successive years and as well as effectively admitting that they have no idea what is happening with the economy.

    Update @ 16.33 - Down from €4.6billion to €3.7billion!!! See here.
    Last edited by David Cochrane; 3rd February 2009 at 04:43 PM.
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  3. 3rd February 2009, 03:04 PM #2
    Outlander
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    Will the figures be released on-line, or will they be to late to impact on this afternoon's "debate"?
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  4. 3rd February 2009, 03:09 PM #3
    Partizan
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    With the rapid deterioration in public finances (down €600 million already) we can expect that emergency budget sometime in late April to 1) increase taxes, more cutbacks and 2) damage limitation in the upcoming Local and European elections not to mention the usual guff of "everyone must pull together in the national interest".
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  5. 3rd February 2009, 03:14 PM #4
    Dios
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    Quote Originally Posted by Partizan View Post
    not to mention the usual guff of "everyone must pull together in the national interest".
    The only thing more massive than Biffo is the irony of him telling us to tighten our belts. Cheap shot yes, true, also yes.

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  6. 3rd February 2009, 04:00 PM #5
    kerrynorth
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    Quote Originally Posted by Outlander View Post
    Will the figures be released on-line, or will they be to late to impact on this afternoon's "debate"?
    They will be online. I will post a link.
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  7. 3rd February 2009, 04:33 PM #6
    kerrynorth
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    JESUS CHRIST. Down from €4.6billion to €3.7billion!!!
    http://www.finance.gov.ie/documents/...xcheqjan09.pdf
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  8. 3rd February 2009, 04:35 PM #7
    yehbut_nobut
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    Quote Originally Posted by kerrynorth View Post
    JESUS CHRIST. Down from €4.6billion to €3.7billion!!!
    http://www.finance.gov.ie/documents/...xcheqjan09.pdf
    Chin
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  9. 3rd February 2009, 04:40 PM #8
    smitchy2
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    VAT(€366m) & excise (€162m) appear to make up the bulk of the difference.
    Willie O Dea surely stated a few days ago that decreasing it would be a bad idea.
    A 19% decline overall. Shocking.
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  10. 3rd February 2009, 04:43 PM #9
    Digout
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    OMG, we this is not funny any more.
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  11. 3rd February 2009, 04:46 PM #10
    Gimpanzee
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    Frightening stuff. This should be rewritten using terminology that everyone over 18 years old can understand and be sent to every household in the country tomorrow morning.
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