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Thread: Exchequer deficit of almost 15 billion in first half of 2009

  1. #31
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    Quote Originally Posted by handinglove View Post
    Massive cuts in public spending will only make the fiscal defecit worse. Less taxes in, more social welfare spending out.

    YOU CANNOT DEFLATE OUT OF RECESSION.EVER.
    fireing a surplus to requirements civil servant and paying them 204 euro a week on the dole saves the exchequer about 10 k minimum per anum

  2. #32
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    Another thing is that you can't TAX out of recession. It's unheard of. That is what FF/Gp is doing by taxing us re levies and other forms.

  3. #33
    Politics.ie Newbie Youngrebel's Avatar
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    €9 Billion wasted on corrupt banks as well this government should either listen to the IMF or go out the door. We will end up like East Timor at this rate!
    "The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group,”

    Franklin D. Roosevelt 32nd US President.

  4. #34
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    Quote Originally Posted by Youngrebel View Post
    €9 Billion wasted on corrupt banks as well this government should either listen to the IMF or go out the door. We will end up like East Timor at this rate!
    oh yeah we dont control our oil and gas fields any more either thanks to FF, give em enough cash and they will change the flag to your face in the morning!
    "The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group,”

    Franklin D. Roosevelt 32nd US President.

  5. #35
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    Quote Originally Posted by Dillinger View Post
    I think we will hit 600k without defaulting. The 800 quangos setup to give FF's friends cushy jobs are gobbling up vast amounts of cash, along with the useless HSE, the social partnership, and don't forget the welfare bill. The beast is finally going to eat itself. This has been coming for thirty odd years. I used to get into so many arguments about this subject (even 15 years ago), because people thought everything was just great. I was often told "if you don't like it then leave".
    Ah,so I see now where you are coming from, Anti FF, just spouting off any old S**t with no real thought, get FF out at any cost.
    What the Country needs right now is clear heads to find a way forward and if that comes from FF, FG, LAB ,SF or even the Greens it doesn't matter as long as it works.

  6. #36
    Politics.ie Regular cyberianpan's Avatar
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    These figures are slightly worse than suggested .... and still prove we are rushing headlong toward disaster

    We are not planning adequately for that disaster

    And as many are warning there's a risk of a double dip recession ...
    (which we doubly haven't planned for)

    And.... and .... unemployment is projected to continue to rise : and is already known to be causing mortgage defaults : so the banks are getting into worse health

    But rest assured.... lulling the ignorant masses into voting yes for Lisbon is farrrr more important than fixing all the above stuff... we'll have to wait until after the summer drinks break and Lisbon until anything can be done



    cYp
    "Yawn , am I alive yet ?"

  7. #37
    jpc
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    You start to wonder have the cabinet, (Well those that count on this matter)thrown their hands up and are now waiting for the IMF in September?
    Its only a chat, we ain't the world council.
    In 2000 the Women's Institute in Britain gave Tony Blair the slow hand clap to demonstrate their contempt.
    [COLOR="Red"]It was dignified, restrained and effective.[/COLOR]Doesn't Bertie deserve the same scorn. No shouting, no abuse, no agression just a relentless slow clap whenever he speaks in public would be enough to end that man's presidential fantasy.
    -3.75,-3.23

  8. #38
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    The key deficit to look at is between current revenue and current expenditure of €7.2bn. This is the amount that is likely to be doubled by the end of the year.
    So more than likely €33bn tax v €48bn current expenditure. Unbelievably the government has let current spending go up by circa €4bn for this year versus last year.

    The remaining €8b of the deficit so far relates to capital expenditure €3bn, Anglo money €3bn and BoI €3bn.
    The bank money in theory are loans but it is unlikely the Anglo one will be paid back.

    It is the current tax v expenditure that the government has to look at though. Ultimately it will mean getting tax and expenditure around the €40bn target in the next 2 years.

  9. #39
    Politics.ie Member hammer's Avatar
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    As far as I`m aware current expenditure target is 58 billion.

    Budgeted income 34 billion - deficit 24 billion

    Unfortunately November is the best month for tax receipts as self employed file their returns and pay preliminary tax for 2009

    The Dept of Finance still believe that the receipts will be up on last year. This will NOT happen. Many self employed people were in the construction sector. Most self employed would have reduced their income temporarily as levies etc were introduced. CGT is also a thing of the past.

    This months figures are artificially increased due to Corporation Tax payments being brought forward. Tax is not down 1.8% as per "spinsters".

    Beware the spin re EXPORTS holding up. This is concentrated mainly in pharmaceutical sector where major US companies are based here. They will not be increasing employments levels by any great amount. Remember also that DELL are pulling out. What effect will that have on EXPORTS !! Irish indigenous exporters are cutting employment levels as they struggle to survive.

    If we want to rebuild this country again we have two chances AGRICULTURE / FOOD and TOURISM

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