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Thread: Fiscal Council gives upbeat assessment - "Austerity over by 2015"

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    Default Fiscal Council gives upbeat assessment - "Austerity over by 2015"

    Interesting to see this on the RTE website, and not at all surprising to find no mention of it yet on politics.ie - but basically the Fiscal Council, who are normally fairly hawkish, have today said the following:

    The Fiscal Advisory Council - the statutory body charged with assessing and advising on the Government's budget policy - says the Government deficit should be close to 2% by 2015. This is significantly better than the Budget day forecast of just under 3%. A lower deficit last year than expected and the impact of the promissory note deal have both changed the arithmetic used to frame the Government's budget plan. The Fiscal Advisory Council has reworked the numbers taking these facts into account, and it says they will significantly improve the budget deficit situation in the years ahead.
    Anyway there's plenty more in the story, linked here:

    No need for extra fiscal measures, says Council - RTÉ News

    And a particularly interesting remark is from the FC chairman John McHale, who says that while the economic outlook is challenging, by 2015 there "should be some room for pay increases, or tax cuts and increases in social welfare benefits."

    I'd expect most posters to be devastated by this report.
    "So how are things at the Campaign for the Freedom of Information, by the way?" "Sorry, I can't talk about that"

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    Politics.ie Member Ren84's Avatar
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    Well done to our leaders in the IMF and EU.

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    Politics.ie Member henryhill's Avatar
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    Let me guess. Are they still replying on growth resuming "next year"? Are they taking into account another hole in the banks or further deterioriation in arrears?

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    When you turn three corners don't you usually come back to where you started ?

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    Dylan2010
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    And Im sure the drones on that council have their own hedge fund betting billions on a global recovery for the next decade because its a dead cert

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    So, why do we need to breach CPA1 and why do we need property tax and health cuts and education cuts etc etc?

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    Politics.ie Member Honecker's Avatar
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    You have to give the peasants a bit of light at the end of the tunnel. Otherwise they might get rowdy.
    Last edited by Honecker; 10th April 2013 at 06:32 PM.

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    Quote Originally Posted by henryhill View Post
    Let me guess. Are they still replying on growth resuming "next year"? Are they taking into account another hole in the banks or further deterioriation in arrears?
    Why don't you read the link?
    "So how are things at the Campaign for the Freedom of Information, by the way?" "Sorry, I can't talk about that"

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    Taxpayer paid and Government buddy quango bull************************ters tell the government what it wants to hear and FG nodding donkeys think it's a story. Go tell it to the Avon ladies.
    Thank you for the six thousand likes.

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    Politics.ie Member The Field Marshal's Avatar
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    Quote Originally Posted by hiding behind a poster View Post
    Interesting to see this on the RTE website, and not at all surprising to find no mention of it yet on politics.ie - but basically the Fiscal Council, who are normally fairly hawkish, have today said the following:



    Anyway there's plenty more in the story, linked here:

    No need for extra fiscal measures, says Council - RTÉ News

    And a particularly interesting remark is from the FC chairman John McHale, who says that while the economic outlook is challenging, by 2015 there "should be some room for pay increases, or tax cuts and increases in social welfare benefits."

    I'd expect most posters to be devastated by this report.
    This so called Fiscal Council has little credibility.

    It is a statutory funded agency of the Irish quisling govt and is therefore not independent of their policy.

    Anything it publishes has to be treated with extreme caution and suspicion.
    Last edited by The Field Marshal; 10th April 2013 at 06:27 PM.
    Repeal the thirty-fourth amendment of the Irish constitution :
    Children have a basic right to be reared by a mother and a father.

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