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Thread: Croke Park Agreement prevents 3 billion in budget cuts without tax increases?

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    Default Croke Park Agreement prevents 3 billion in budget cuts without tax increases?

    The Croke Park Agreement on public sector pay has spared us the whingeing and victimhood claims of public sector union reps on the airwaves but that will come at a high price in the coming budget-big tax increases and a total gutting of capital spending on infrastructure.

    Recognising belatedly that the frenzy of tax increases in his budgets have crippled the economy, Finance Minister Lenihan promised no more tax increases. But how can he possibly find €3 billion plus in cuts?

    Can he increase pension funding levies on gold plated public sector pensions to levels determined by pension actuaries? That would go a long way towards balancing the budget but take home pay would take a beating if the employees had to contribute fully.

    I hope Lenihan isn't swayed by taxers like Garret Fitzgerald who claim that Irish taxes are relatively low by the standards of EU advanced welfare states. They fail to recognise that inferior Irish government services in health care,public transport,social housing and subsidised day care aren't worth paying for. Higher taxes should only be considered if the public sector is radically reformed over a decade and its recruitment system opened up to business talents in order to permit efficient delivery of services.
    Last edited by patslatt; 25th September 2010 at 05:19 PM.

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    If you want 3 billion saved then don't give 8 billion to Anglo. Cuts are meaningless anyway as the 3 billion would only cover the increased interest of the bank bailouts which is all being borrowed. They will need to make another "3 billion in cuts", i.e., pay off more interest on money borrowed to support Seanie next year, and the year after and the year after.

    Eventually, 99% income tax, net income of €4 a year and it still won't be enough. This income curve is dropping and there is a floor on it. Perhaps Lenihan has been doing it to get people ready for IMF cuts he knows are coming - and would be a bigger single drop than gradual cuts over 2-3 years.

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    We need to cut the billions being handed over to banks, not the take home pay for the families of nurses, guards, social welfare recipients, etc. that is spent in shops. If you don't believe this, look at the recent Financial Times, which was widely quoted by this Goverment in 2009 - when it suited.

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    Quote Originally Posted by patslatt View Post
    The Croke Park Agreement on public sector pay has spared us the whingeing and victimhood claims of public sector union reps on the airwaves but that will come at a high price in the coming budget-big tax increases and a total gutting of capital spending on infrastructure.

    Recognising belatedly that the frenzy of tax increases in his budgets have crippled the economy, Finance Minister Lenihan promised no more tax increases. But how can he possibly find €3 billion plus in cuts?

    Can he increase pension funding levies on gold plated public sector pensions to levels determined by pension actuaries? That would go a long way towards balancing the budget but take home pay would take a beating if the employees had to contribute fully.
    You clowns are so see through and predictable it is unreal.

    What do you do for a "living" Pat ? FF journalist, FF developer, FF autioneer, FF solicitor, FF contractor or FF developer ???

    Easy knowing it's getting close to FF budget time, when the lower mount street rent a drones are out trying to demonise and vilify public sector workers in an attempt to distract attention from the real crooks.

    The pay and pension cuts save us 870 million per year. So how would taking another 870 million off them, i.e. doubling their present cuts, pay for the 30 Billion being given to bail out the wealthy golden circle and their Anglo bank debts ?
    Last edited by Luigi Vampa; 25th September 2010 at 02:50 PM.

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    Well, if Labour are the largest party not only will the Croke Park cop-out not save 3 Billion, but, there is a chance it will be reversed.

    Mark my words! Gilmore can't commit to anything, and if Labour receive a huge vote he will attribute it solely to not rocking the electoral boat with cuts. Consequently, having just delivered many new Labour seats he won't want to risk losing them!!

    Added to which Jack O'Connor will probably have a desk in the corner of the Taoiseachs office!

    C

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    Quote Originally Posted by thebig C View Post
    Well, if Labour are the largest party not only will the Croke Park cop-out not save €3 Billion, but, there is a chance it will be reversed.

    Mark my words! Gilmore can't commit to anything, and if Labour receive a huge vote he will attribute it solely to not rocking the electoral boat with cuts. Consequently, having just delivered many new Labour seats he won't want to risk losing them!!

    Added to which Jack O'Connor will probably have a desk in the corner of the Taoiseachs office!

    C
    The Labour Party voted at their most recent conference to reverse the pay cuts and recruitment embargo when in govt. I wonder how they'd pay for that now? Oh yeah, a 65% income tax rate on the 'rich', ie anyone earning more than 75k.
    "A govt big enough to give you everything you want, is strong enough to take everything you have" Thomas Jefferson

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    Quote Originally Posted by LeDroit View Post
    The Labour Party voted at their most recent conference to reverse the pay cuts and recruitment embargo when in govt. I wonder how they'd pay for that now? Oh yeah, a 65% income tax rate on the 'rich', ie anyone earning more than 75k.
    I wonder what will happen when they realise that most people paying the top rate will be Civil Servants and Semi State based middle/upper managers.......who account for alot of Labours vote!

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    Quote Originally Posted by thebig C View Post
    I wonder what will happen when they realise that most people paying the top rate will be Civil Servants and Semi State based middle/upper managers.......who account for alot of Labours vote!
    A high tax rate, will not affect the pension, and as many of the top rate civil servants are older, they just want to reach the end-line and get out with their 65% of 100K plus.

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    Ed Balls may not have the charisma the win the british labour party leadership today but he knows his economics and this approach may well be the way forward for us

    [ame=http://www.youtube.com/watch?v=TqER8CPtCiI&feature=player_embedded]YouTube - Ed Balls Bloomberg speech - There is an alternative[/ame]

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    Everyone agrees that we had a property and credit bubble. Everyone agrees that the increases in welfare and public service pay was based on credit bubble revenues.

    Can someone explain to me how we can continue to pay these rates now that tax revenues have collapsed along with the bubble?

    It seems to me the Labour party want to condemn the credit bubble, while refusing to cut the benefits and salaries it made possible.

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