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Thread: My Budget proposals

  1. #1
    Politics.ie Member
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    Default My Budget proposals

    Dont pay bonds €5bn bonds to IBRC in 2013.
    Pull the €1.1bn that AIB used to top up its pension fund. This is a once off saving.

    Better use of procurement (€150m), increases in charges for private beds in public hospitals (€270m) and better use of generic drugs (€280m). It also seems reasonable to temporarily not pay out the €170m in public sector pay increments planned for 2013.

    Reduce the Group A threshold on Capital Acquisitions Tax from €250,000 to €200,000, Reduce Business Relief for Capital Acquisitions Tax from 90% to 50%, Reduce Agricultural Relief for Capital Acquisitions Tax from 90% to 50% Introduce a €2.5 million ceiling on the qualifying amount for Business Relief and Agricultural Relief, Apply PRSI to rental income, Abolish the rent-a-room relief, Abolish relief for Employee Share Ownership Trusts, Confine tax relief to the standard rate of 20% in respect of pension contributions to occupational pension schemes, retirement annuity contracts and personal retirement savings accounts and confine tax relief for the public service pension related deduction to the standard rate of 20%, Reduce the tax exemption for lump sum pension payments to the level of the average industrial wage with the balance taxed at the marginal rate of income tax. €299m per annum

    A curtailment of certain pension tax reliefs which will yield approximately €760m per annum for the exchequer. Reduce the level at which persons and companies may claim interest repayments against tax for residential rental properties from 75% to 40% taxation of wealth and an equitable net equity property tax model which takes into consideration ability to pay and stamp duty paid.

    Reform to taxation on high earners yielding almost €150m. Introduce a third band of employer’s PRSI contributions at 15% charged on the portion of salaries above €100,000, Extend the additional USC of 3% to all income earners, affecting the portion of salaries above €100,000.

    The exchequer could save €50m a year if child benefit was abolished for children of school going age and replaced by a school attendance payment.
    Reduce numbers of TD's by half €25m
    Rationalisation of state agencys €20m
    Reduction in subvention to Horse and Greyhound Fund €10m
    Reduction in State professional and consultancy fees €20m
    Abolish Green diesel exemption and replace with a fuel rebate to reduce revenue loss from illicit trade €100m
    Put the free telephone rental scheme out to tender €20m
    Reduction in Legal aid fees €10m
    Stop overseas aid payments until we are on a sustainable footing €640m
    Cap public sector pensions at 48,000€ €17m
    Tax on betting shop profits, added sugar, added salt, added fats, cigarettes and alcohol cumulatively yield over €480m per annum.
    Financial transaction tax could raise €750m.
    Tax and regulate the sale of cannabis to those over 21 years old €500m (not costed by the department of finance)
    Stop the anomoly where women receive 262€ from the state of which they do not pay tax on and get the balance paid by their employers, while on maternity leave (of which they pay less tax on than they normally would) 40€m


    Total savings €10,361m

    Other good proposals which i've seen from people on this thread:
    Rent a Room relief cut from €10,000 to €1000
    5% rise in car tax from bands (D)
    Change rights to natural resources (royalties) not costed

    permenantly stop Increments for earners over €52,000 to cease
    All public sector (non pay related) allowances to be halved/ abolised
    All public sector pensions to be capped at €100,000
    All public sector expenses to be vouched
    All milage expenses to be capped at €17,500 pa
    All mobile phone expenses capped at €3500 pa
    Merger or abolishment of unnessary "Quangos"
    Surplus of staff will be (a) redeployed (b) offered redundancy package

    Bonus Tax
    1st 10,000 exempt
    Next €54,000 @ 23%
    Balance @ 40%


    Social Welfare
    Means Test for the childrens allowance and tax earnings over the caps.
    (To qualify)
    Single gross household income of under €65,000 pa.
    Two earners gross income of under €90,000 pa.
    Children with disability/ special needs exempt.
    Children must be resident in the state.
    Rates frozen at €130 per child.


    €4.5 billion be taken from the National Pension Reserve Fund over the next four years to fund targeted strategic investment in specific projects identified for their high potential to contribute to the economy’s ability to generate long-term growth.
    Last edited by murtaep; 6th December 2012 at 11:55 PM.

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    Default

    That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site?

  3. #3
    Politics.ie Member ruserious's Avatar
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    Pensioners get off scott free again
    Boycott the "Irish" Sun rag.

  4. #4

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    You had me at hello.. or whatever it was you typed first... oh ye, dont pay the bonds.

  5. #5
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    Quote Originally Posted by councilkid View Post
    That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site?
    They have all been costed by the department of finance, if someone disputes them, they can post their sources.
    Last edited by murtaep; 3rd December 2012 at 05:49 PM.

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    Politics.ie Member BlackLion's Avatar
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    Quote Originally Posted by councilkid View Post
    That may or may not be an excellent set of proposals. But posting it at 1am and with no links to back up your numbers. Are you just targeting drunk members of the site?
    Reminds me alot of SF and ULA own budgets. The brothers grimm fairytales have more truth in their books.
    All men dream: but not equally. -T. E. Lawrence

  7. #7
    Politics.ie Member Analyzer's Avatar
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    Quote Originally Posted by murtaep View Post
    Dont pay bonds €5bn bonds to IBRC in 2013,
    pull the €1.1bn that AIB used to top up its pension fund. This is a once off saving.
    We have descended to the point in this society where public discussion of this obvious solution is never entertained.

    It would offend our "EU partners" (and to specific the banks that back the politicians running some of them).
    Last edited by Analyzer; 3rd December 2012 at 04:32 AM.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

  8. #8
    Politics.ie Member dunno's Avatar
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    Not paying bonds without European agreement will simply mean it will be very hard for this country to borrow. Presumably you mean getting agreement from ECB and other relevant parties to not pay the bondholders. All Ireland has over them is a possible threat to banking sentiment if it wants to be belligerent. They can step on this country. We might be able to cause trouble in return.

  9. #9

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    Guaranteed bonds paid for as long as we can , unguaranteed bonds burned everytime we see one. See how the books balance after six months.

  10. #10
    Politics.ie Member Analyzer's Avatar
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    Quote Originally Posted by dunno View Post
    Not paying bonds without European agreement will simply mean it will be very hard for this country to borrow. Presumably you mean getting agreement from ECB and other relevant parties to not pay the bondholders. All Ireland has over them is a possible threat to banking sentiment if it wants to be belligerent. They can step on this country. We might be able to cause trouble in return.
    Unbelievable horse manure from the school of "thought" that assumes that if we should be really grateful to be afraid of the morons running the EU.

    We don't need permission from failed gamblers, the politicians that they "own", or the clowns running the ECB, to hold on to our own taxes.

    It is called capitalist consequences for capitalist misadventure. It is designed to deal with clueless morons hired by French insurance companies who bought into the Seanie Fitz story.

    The payment of the billions needlessly to the Anglo Bondholders, increases the certainty that this country will eventually default on it's debts.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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