New Emergency Budget in July?

ceret

Someone told me that there might be a new emergency budget in July, after the elections. Of course this is all a rumour now and not sure, but I wonder if anyone else has heard anything about this?

thebman

lol it would be a great way to shatter all International opinion of our country and how we do business if we need another emergency budget so soon after the last one.

Sounds like a load of crap TBH. A good way to make FF look bad for the elections and having nobody found out until afterwards.

I don't want FF to get back in but that is what it sounds like to me after reading your post.

ednwireland

wouldnt suprise me though, considering they seem to have hardly managed to bring in any cost savings from the last one , so lets shaft the paye worker again.

but i agree with thebman it would shatter whats left of the countries reputation if it did happen

spank_inferno

It may well be necessary and no bad thing either.

Every month the Dept of Finance issue their reviewed "book of estimates"
showing how much money came in to date and how much they reckon they will spend for the remaining year.

Every month in 2009 the picture got worse as revenue cratered and expenditure rose because of welfare costs.

The last emergency budget could only slow the rate of decline, but it didnt reverse it.

Because the rate of decline in public finances is likely to accelerate again as the inevitable impact of tax increases dilutes, the government would be wise imo to revise their budgets all over again for the 3rd quater of the year.

I know it looks bad politicaly, however it may well be a necessity.

Morrisseeee

Cowardly Cowen, if you're listening, pls pls pls tax the RICH and leave me alone, you've ridden me enough already ! :eek::mad:

ionix5891

Morrisseeee wrote: »

Cowardly Cowen, if you're listening, pls pls pls tax the RICH and leave me alone, you've ridden me enough already ! :eek::mad:

the rich (the ones that are not evading taxes) are already paying a very very high rate, squeeze them enough and they and the they own companies will move elsewhere leading to more job losses

thebman

ionix5891 wrote: »

the rich (the ones that are not evading taxes) are already paying a very very high rate, squeeze them enough and they and the they own companies will move elsewhere leading to more job losses

Yeah and tax the poor and they will default on the mortgages and our banks will be fooked again.

So how about we try something innovative like cut government expenditure if we have to have another budget at all that is.

I find it hard to believe that they couldn't forecast two months ahead. All you had to do is look at recent trends and assume they'd continue for two more months.

spank_inferno wrote: »

It may well be necessary and no bad thing either.

It is a very bad thing that they can't forecast a month in advance. What kind of message does that send? How can anyone have confidence in them to get the next budget right if they need a new one every two months?

Makes the Dept. of finance and the government look incompetent TBH.

Because the rate of decline in public finances is likely to accelerate again as the inevitable impact of tax increases dilutes, the government would be wise imo to revise their budgets all over again for the 3rd quater of the year.

I know it looks bad politicaly, however it may well be a necessity.

The problem is it doesn't just look bad politically, it will convince many people not to invest in Ireland because we are crazy and can't create a budget to last 3 months when it is supposed to be an annual budget. Why would anyone invest in such a country?

If nobody invests, get what happens? Taxes increase to cover the bigger hole in finances and then more companies move out and fewer companies (if there are any left to invest) will invest. This is just a spiral to bankruptcy.

serfboard

It doesn't matter how it looks - if it is necessary it will be done.

Giving the bank guarantee didn't look good. We had to do it, we did it, and other countries did something similar.

Ditto for nationalising Anglo (although IMO it should have been left to fail) - other countries nationalised certain banks.

Ditto for NAMA - I see the Germans are planning something similar.

So, whether it looks bad or not, it will be done if it has to be done. The political advantage for the government in July is that there are no more elections until the next General Election, which isn't for a few years. That is, if the by-elections and local elections haven't triggered a General Election in the meantime.

ionix5891

thebman wrote: »

Yeah and tax the poor and they will default on the mortgages and our banks will be fooked again.

So how about we try something innovative like cut government expenditure if we have to have another budget at all that is.

I find it hard to believe that they couldn't forecast two months ahead. All you had to do is look at recent trends and assume they'd continue for two more months.



It is a very bad thing that they can't forecast a month in advance. What kind of message does that send? How can anyone have confidence in them to get the next budget right if they need a new one every two months?

Makes the Dept. of finance and the government look incompetent TBH.



The problem is it doesn't just look bad politically, it will convince many people not to invest in Ireland because we are crazy and can't create a budget to last 3 months when it is supposed to be an annual budget. Why would anyone invest in such a country?

If nobody invests, get what happens? Taxes increase to cover the bigger hole in finances and then more companies move out and fewer companies (if there are any left to invest) will invest. This is just a spiral to bankruptcy.

This country is alot poorer than people think, one way our another things will be cut

if welfare and public sector is not brought in line next budget then we will be bankrupt sooner or later and the IMF will rape us all

dont expect the EU to help us, they have their own problems and were not exactly the favorites now after way we voted last year dragging this damned treaty on for almost a decade now

Belfast

ceret wrote: »

Someone told me that there might be a new emergency budget in July, after the elections. Of course this is all a rumour now and not sure, but I wonder if anyone else has heard anything about this?

why not the last one was such a success.