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About LinkBacksMore from Labour.ieThis is a moment of grave national crisis. It would be difficult to overstate the depth of the economic emergency that now faces our country and our people.
More from Labour.ieThis is a moment of grave national crisis. It would be difficult to overstate the depth of the economic emergency that now faces our country and our people.
And how will he pay for it? By raiding the pension reserve.
It is amazing that Labour are being allowed to get away with their incompetence on the economy
The guy is talking sh1te, theres no way to grow the economy over next several years and "shrinkage " of economy is not only necessary but inevitable. You cant keep economic activity at bubble levels in face of a global economic crisis and a domestic fiscal crisis. Typical labour economics, afraid to face down the real probs which are highly inflated and unsustainable PS pay.
Nothing solid once again from Labour.
They have to come out a bit more like FG and say we need to cut public expenditure including capital projects.
Without this our country will be going bankrupt very shortly.
We need to do both, we need to cut the public service, aherns benchmarking scam needs to be reversed and we need stimilus.
Translation: We have been told by our voter base, the public service unions, to scupper any moves to cut PS pay.Originally Posted by Labour
It is hypocritical for feminists and intellectuals to enjoy the pleasures and conveniences of capitalism while sneering at it.-Camille Paglia
You posted your reply two minutes after he completed his speech, so its clear that you trawled through it in great detail.And how will he pay for it? By raiding the pension reserve.
It is amazing that Labour are being allowed to get away with their incompetence on the economy
The capital spend for this year is €8bn. This is probably more stimulus than any other country in Europe is pursuing as a % of GDP (4%).
However, FF has been spending heavily on capital projects for a few years and there is no direct evidence this has managed to stimulate the economy substantially.
Obama plan of stimulus is for about a 5% spend of GDP in the states relies on the same Keynesian policies of the past.
I think it would be better if we delay these capital projects, get our house in order with substantial cuts in the public level pay and operational spend together with further taxes on property investors, increased
This year we should have people planning what exact capital projects we should undertake rather than giving out blank cheques which has been a feature of FF.
Therefore would a short term extreme shock not be better than a drip drip situation for 5 years like they are planning.
I did not know it was this big, I wonder how much of that 8 billion is diverted to consultants on the projects ?
The capital spend is allocated at 8 billion euros?
Lets see some renegotiatons on those contracts. Probably not possible but if these are cost plus contracts lets see a commitment from our govt. to ensure that every item and service is provided at actual cost and not some outdated figure. Really challenge the Contractors to provide these at market realistic costs.
Also considering the drop in demand that we have seen at the end of the last quarter and the continuation propensity of consumers to save rather than spend people need to figure out where demand will come from.
I dont believe that Capital projects will provide a broad enough boost to demand. Thats why there does need to be some caution in how we proceed.
Gilmore is right butt lets see some further flesh on the bones and a substantial alternative narrative. In effect the complete strategy prepared by economists. I have to say well done Labour for getting this out.
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