Follow @PoliticsIE
 
 
 
Page 1 of 3 123 LastLast
Results 1 to 10 of 21

Thread: ESRI Caution Government on Pre-Election Splurge

  1. #1
    Politics.ie Member
    Join Date
    Jan 2004
    Location
    Dublin
    Posts
    249
    Mentioned
    0 Post(s)

    Default ESRI Caution Government on Pre-Election Splurge

    The Economic & Social Research Institute (ESRI) has cautioned Fianna Fáil & the PDs not to engage in a pre-election splurge in December's Budget.

    In this quarter's update, the ESRI has said that economic growth will slow down in 2008. They have advised the Government that money will need to be held back in order to ensure that anti-cyclical policies can be followed (i.e. that Government spending can be ramped up in the event of a downturn becoming apparent).

    Former Finance Minister Ruairi Quinn TD of the Labour Party claimed that a "repeat of the dangerous conduct coming up to the 2002 General Election – when public expenditure increased by more than 20% per annum - could be disastrous. Money was thrown at anything that might turn up a few votes. Any consideration of getting value for money was abandoned."

    The Government last night refused to comment on the ESRI's report.
    Source: The Irish Times

  2. #2
    Politics.ie Member
    Join Date
    Jan 2005
    Posts
    280
    Mentioned
    0 Post(s)

    Default Re: ESRI Caution Government on Pre-Election Splurge

    Quote Originally Posted by krayZpaving
    The Government last night refused to comment on the ESRI's report.
    Source: The Irish Times
    The ESRI have about as much influence on Government policy as a back bench FF TD...
    The only way to change the world is to win elections.

  3. #3
    Politics.ie Newbie
    Join Date
    Feb 2006
    Posts
    37
    Mentioned
    0 Post(s)

    Default

    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD

  4. #4
    Politics.ie Member mjcoughlan's Avatar
    Join Date
    Feb 2003
    Location
    Waterford
    Posts
    242
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by georgedillon
    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD
    I don't think that's the issue. What they are saying is that in an economic decline public money might be better spent. I'm not entirely convinced of the effectiveness of anti-cyclical fiscal policies. The government should always be looking for ways to minimise public expenditure so that you can be taxed less than you are currently.
    MJ Coughlan,
    Waterford City.
    http://www.bebo.com/mjcoughlan23

  5. #5
    Politics.ie Member
    Join Date
    Oct 2005
    Location
    Fingal
    Posts
    143
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by mjcoughlan
    Quote Originally Posted by georgedillon
    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD
    I don't think that's the issue. What they are saying is that in an economic decline public money might be better spent. I'm not entirely convinced of the effectiveness of anti-cyclical fiscal policies. The government should always be looking for ways to minimise public expenditure so that you can be taxed less than you are currently.
    An example of what they are talking about is, instead of trying to build all the infrastructure that's needed asap, rather you deliberately hold back some investment until after 2008 (say), so that any downturn in the construction industry can be partially offset by increased government investment. While construction is one of the few sectors where they could possibly have some influence, the problem is that they still need to predict when the downturn does actually happen, which is not that easy to do.

  6. #6

    Default

    Quote Originally Posted by michael1965
    Quote Originally Posted by mjcoughlan
    Quote Originally Posted by georgedillon
    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD
    I don't think that's the issue. What they are saying is that in an economic decline public money might be better spent. I'm not entirely convinced of the effectiveness of anti-cyclical fiscal policies. The government should always be looking for ways to minimise public expenditure so that you can be taxed less than you are currently.
    An example of what they are talking about is, instead of trying to build all the infrastructure that's needed asap, rather you deliberately hold back some investment until after 2008 (say), so that any downturn in the construction industry can be partially offset by increased government investment. While construction is one of the few sectors where they could possibly have some influence, the problem is that they still need to predict when the downturn does actually happen, which is not that easy to do.
    That's it exactly- spot on.
    The political establishment lacks both vision and courage.

  7. #7
    Politics.ie Newbie
    Join Date
    Jun 2005
    Location
    Dublin
    Posts
    84
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by georgedillon
    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD
    These comments on the ESRI are ignorant.

    Should we or the State just rely on bank paid economists or none?

    TK Whitaker was intrumental in setting up the Institute because he as a civil servant, saw the value of independent analysis that wasn't tied to a vested interest.

    Years before the Celtic Tiger, the ESRI had forecast that emerging demographic trends could provide the basis for economic recovery.

    I was at Monday's briefing and the ESRI is not predicting the end of the housing boom in 2008.

    Alan Barratt said that as the ECB rate is likely to reach 4% in mid-2007 and rising interest rates in the rest of the world plus the end of the SSIA stimulus here, is likely to result in slower economic growth in 2008/09. it would be better if public spending was smoothed rather than having a big rise in 2007.
    Believe those who search for truth. Doubt those who claim to have found it -André Gide (1869-1951) Nobel Laureate 1947

  8. #8
    Politics.ie Member
    Join Date
    Aug 2005
    Posts
    1,077
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by irishpeoplearewhingers
    Quote Originally Posted by michael1965
    Quote Originally Posted by mjcoughlan
    Quote Originally Posted by georgedillon
    What these overpaid "analysts" (did anyone ever do an audit of ESRI predictions to see how many came true?) seem to forget is that it's OUR money. We are grossly overtaxed, even to the extent that the govt is unable to spend its revenue. But these ESRI types want the government to keep OUR money! I want MY money back!
    GD
    I don't think that's the issue. What they are saying is that in an economic decline public money might be better spent. I'm not entirely convinced of the effectiveness of anti-cyclical fiscal policies. The government should always be looking for ways to minimise public expenditure so that you can be taxed less than you are currently.
    An example of what they are talking about is, instead of trying to build all the infrastructure that's needed asap, rather you deliberately hold back some investment until after 2008 (say), so that any downturn in the construction industry can be partially offset by increased government investment.While construction is one of the few sectors where they could possibly have some influence, the problem is that they still need to predict when the downturn does actually happen, which is not that easy to do.
    That's it exactly- spot on.
    Thats nonsense. If you hold back on investing in infrastructure, investment will begin to decline due to the inadequacy of it. If investment declines then so does employment, and then invaribly the government purse strings through falling tax incomes, vat receipts, corporation tax etc...etc.
    The correct thing to do is build the required infrastructure (not easily defined I admit, but along the lines of where demand exists for development then develop it, should suffice). In the event of a downturn Ireland will be in no worse a position than if investment was held back, however in the event of an upturn ireland would be in a far better position to attract investment as the required infrastructure has been built.

  9. #9
    Politics.ie Member
    Join Date
    Feb 2011
    Posts
    16,275
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by qtman View Post
    The ESRI have about as much influence on Government policy as a back bench FF TD...
    This was the 25th of July 2006.

    Enough said.

  10. #10
    Politics.ie Member Marcos the black's Avatar
    Join Date
    Feb 2009
    Location
    Knowhere
    Posts
    18,148
    Mentioned
    0 Post(s)

    Default

    They're right
    You'll never go broke appealing to the lowest common denominator.

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •