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Thread: SBP - 4billion required in budget

  1. #1
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    Default SBP - 4billion required in budget

    In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be €4 billion.

    In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to €3billion

    Will it be the Greens rather than FF backbenchers that bring an end to the government ?

  2. #2
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    Time to reach for the quango hammer.
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

  3. #3

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    Quote Originally Posted by jacko View Post
    In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be 4 billion.

    In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to 3billion

    Will it be the Greens rather than FF backbenchers that bring an end to the government ?
    in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.

  4. #4

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    Quote Originally Posted by jacko View Post
    In tomorrows paper, the main story is quoting govt sources as saying that the required adjustment will be 4 billion.

    In a separate story Pat Leahy reports Eamon Ryan as saying that the Greens have only agreed to 3billion

    Will it be the Greens rather than FF backbenchers that bring an end to the government ?
    Non story, Greens will agree to any figure once its keeps an election at bay
    another while longer

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    Way short,it will be between €6 and €8 billion.
    The deficit has to go from 32% to 3% in 3 years and also figure in that the annual tax take will contract by a minimum €5 billion a year until it bottoms at about €15 billion.
    Any increases in tax will be cancelled out by the increases in unemployment and emigration. There's another €20 billion to go into the banks in the next 18 months as well.

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    Politics.ie Member rockofcashel's Avatar
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    Quote Originally Posted by dotski_w_ View Post
    in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
    I fear it'll be even worse this time though. Before there was a political element.. make it look really bad, so that when they cut less, it won't look so bad. This time, they simply have to cut hard and deep
    1,197 people agree with me.. how many agree with you ?

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    Net current spending for 2010 is €47.1 billion. A 10% reduction per annum in this would be a reasonable target for the next few years. The Government need to switch to a zero based budgeting approach to eliminate the huge waste included in this expenditure. Additional taxes of €2 billion would supplement the cost savings of €4.7 billion.

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    Politics.ie Member Malbekh's Avatar
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    Another issue to take into account is that next year the government were counting on a moderate return to growth to narrow the gap. That ain't going to happen now...
    Blessed be the threadmakers.

  9. #9
    longshortgrass
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    Quote Originally Posted by dotski_w_ View Post
    in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
    Regret to advise that this is not "every year".

    The times they are a changing....

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    Quote Originally Posted by dotski_w_ View Post
    in fairness, its 2 October. Negotiations will take place for some months, D/Finance will start off looking for the maximum and over time it will settle on a lower figure. Happens every year.
    Dotski, you will be in power soon enough and then you will get to cut 4-5bn per year for your term in govt, along with some tax raises of course-70% marginal rate of IT? Let see hou your 40 newly minted lobby fodder are going to hack that.

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