Sinking Ship

JONJO THE MISER

Did i hear right on the news, the goverment are drawing up a budget to cut 7bn:mad:, holy smokes that's gong to kill the economy stone dead.

Liam Byrne

JONJO THE MISER wrote: »

Did i hear right on the news, the goverment are drawing up a budget to cut 7bn:mad:, holy smokes that's gong to kill the economy stone dead.

It's probably required because of the mess they've made of things to date.

Mind you, it's odd that they're happy to hit OUR budget while letting the scum in the banks that we own head off into the sunset with massive pensions.

Roll on the next election!!!!!!

high heels

Ehh the UK just cut £80 billion per year out of there budget..

I think the Irish could take out at least €7 billion..

curlzy

THE END IS MOTHER****ING NIGH!!!!!!

FreudianSlippers

high heels wrote: »

Ehh the UK just cut £80 billion per year out of there budget..

I think the Irish could take out at least €7 billion..

If CEOs and CFOs of multinational companies and banks can take a pay freeze for a year in their companies in response to the fúckup they let happen, then I think a portion of this €7billion ought to come from a freeze of the salaries of members of the Oireachtas.

JONJO THE MISER

If this happens hundreds of thousands of more Jobs are gonna be lost, buisness will grind to a hault and close because you cant take that much of the economy.

squod

Austrlians owe a trillion of thier funny dollars to somebody else. Yet we're still emigrating there for work.

Wake the fuhk up FF!

Copper23

JONJO THE MISER wrote: »

Did i hear right on the news, the goverment are drawing up a budget to cut 7bn:mad:, holy smokes that's gong to kill the economy stone dead.

Here we go again.
What would you prefer? They draw up an economy which doesn't cut money we don't have? Better yet lets spend an EXTRA 7bn... will that make it all better?

Birneybau

high heels wrote: »

Ehh the UK just cut £80 billion per year out of there budget..

I think the Irish could take out at least €7 billion..

Ehh, the Uk's population is about 20 times the size of ours...

20 times as many tax payers etc...

FreudianSlippers

Copper23 wrote: »

Here we go again.
What would you prefer? They draw up an economy which doesn't cut money we don't have? Better yet lets spend an EXTRA 7bn... will that make it all better?

Well, actually, if we did spend an extra €7billion on an infrastructure project it would be better than saving €7billion in cuts.

Just a technical point

Copper23

OisinT wrote: »

Well, actually, if we did spend an extra €7billion on an infrastructure project it would be better than saving €7billion in cuts.

Just a technical point

200% of zero is still zero.... just a mathematical point.

Luxie

Where's Terry this evening?

squod

Luxie wrote: »

Where's Terry this evening?

Evening? It's only half six.

FreudianSlippers

Birneybau wrote: »

Ehh, the Uk's population is about 20 times the size of ours...

20 times as many tax payers etc...

What does that have to do with anything?

The real key here is simple:

The GDP per capita in Ireland is €31,561
The UK GDP per capita is: €23,422

The debt of the UK is 68.5% of GDP with a €222.9billion budget deficit.
In Ireland the debt is 57.7% of GDP with a €23.3billion budget deficit.

FreudianSlippers

Copper23 wrote: »

200% of zero is still zero.... just a mathematical point.

We could get €7bn easily... so I don't see your point

Luxie

squod wrote: »

Evening? It's only half six.

Not where I am.

high heels

Birneybau wrote: »

Ehh, the Uk's population is about 20 times the size of ours...

20 times as many tax payers etc...

Its 10 times the population.

The cuts the Uk are making is over Twice the Irish income. Eg the Irish goverment make €35 billion a year!!!

curlzy

high heels wrote: »

Its 10 times the population.

The cuts the Uk are making is over Twice the Irish income. Eg the Irish goverment make €35 billion a year!!!

Rich bastards, we should start hating the English again*.

*not really

Son Of A Vidic

Since when did anyone think this government knew how to run the country. So if they do constrcict the economy and stifle any potential growth and recovery in the process. Well I wouldn't expect anything less from them.

joolsthedog

If you take the UK per capita population then on a 20:1 basis €4 bn is the right number

joolsthedog

The UK has wimped out on this and they continue to print money like it was going out of fashion. The North is facing £4bn cuts for a population of 1.5 million - we are getting off lightly!! Roll on seeing Fingers and Seanie in handcuffs on their way to the Joy

thenutflush

Don't worry jonjo, you'll just need to grind a bit harder at the poker tables and gamble very carefully to buffer yourself from the savagery that is to come in december!!

Man city (-2.0) at 8.05 tonight... 7/4 on pp...worth a go!

ascanbe

OisinT wrote: »

What does that have to do with anything?

The real key here is simple:

The GDP per capita in Ireland is €31,561
The UK GDP per capita is: €23,422

The debt of the UK is 68.5% of GDP with a €222.9billion budget deficit.
In Ireland the debt is 57.7% of GDP with a €23.3billion budget deficit.

Those numbers are irrelevant.
Britain has its banks sorted; they will be willing and able to lend money.
The British government is cutting down on borrowing and making cuts in order to balance the books.
Even our supposedly solvent banks require huge transfusions of capital and if they survive, won't be lending money anytime soon.
Our government, with the Anglo-bailout/Nama will be making these cuts in order to pay off the debts of gamblers; debts we have no responsibility for.
And then will be continuing to borrow more, just to try and keep the country afloat, plunging us further into debt; and that's only if anyone will actually lend to us.
The situation Britain is in and our situation don't even bear comparison

Toes

I think the government is a pretty cool guy. Eh destoys cnutry and doesnt afraid of anything...

FreudianSlippers

Toes wrote: »

I think the government is a pretty cool guy. Eh destoys cnutry and doesnt afraid of anything...

You accidentally the whole meme.

Kintarō Hattori

Luxie wrote: »

Where's Terry this evening?

Busy chasing Wi-Fi thieves.

JONJO THE MISER

thenutflush wrote: »

Don't worry jonjo, you'll just need to grind a bit harder at the poker tables and gamble very carefully to buffer yourself from the savagery that is to come in december!!
!

Yeah i will be okay but im just thinking of the rest of ye.

Rented Mule

OisinT wrote: »

We could get €7bn easily... so I don't see your point

I'm sure it's in the ash trays and under the cushions of our sofas.

oppenheimer1

like the £80bn the UK is doing, the €7bn ish the Irish govenment is talking about is also over 4 years. It will be €3.5 to €4bn in cuts and extra taxes in December at most

thenutflush

thenutflush wrote: »

Man city (-2.0) at 8.05 tonight... 7/4 on pp...worth a go!

Hope nobody followed this..not looking good

galwayrush

high heels wrote: »

Ehh the UK just cut £80 billion per year out of there budget..

I think the Irish could take out at least €7 billion..

Cut backs in the right places, ie the 'untouchable' surplus pen pushers in the HSE and the vast amount of Quangos the Government has, then yes.

Population wise, pro rata, the UK cuts are less than half as severe as they would be here.

Chuchoter

I'm the one who should be pissed off, I'm 17 and by the time I'm finished college (thats presuming I can still pay for college if the don't bring fees in) I'm not going to have a country left.:mad::mad::mad:

Sea Sharp

It's the right thing to do.
We need to close the budget deficit and we might as well get one nasty budget out of the way. Plus we'll need a grand gesture to restore confidence in the country on the international markets.
I suspect that the government is hoping that the shock and implications of this budget will turn the general population against the deadwood in the public sector and set the scene for ripping up the CP agreement and a subsequent drastic shake up over the next three years.
There's billions to be saved by sacking unnecessary admins in the PS. I'd like to see them striking after a year of their uselessness being exposed on RTE spins.
It's gonna be a sh1t year or 2 ahead, but hard times are inevitable.

holystungun9

OisinT wrote: »

We could get €7bn easily... so I don't see your point

'ere mister..give us a euro

FreudianSlippers

crayolastereo wrote: »

I'm the one who should be pissed off, I'm 17 and by the time I'm finished college (thats presuming I can still pay for college if the don't bring fees in) I'm not going to have a country left.:mad::mad::mad:

If the right cuts are made now and we start spending money on infrastructure and we get people back to work, things should be partially if not wholly recovered in 5 years.

Sea Sharp

OisinT wrote: »

If the right cuts are made now and we start spending money on infrastructure and we get people back to work, things should be partially if not wholly recovered in 5 years.

How will spending money on infrastructure bring money into the country in the short term?

Duggy747

Let's just take all the country's money, put it on black on a table in Vegas and roll on the hookers good times!*
























*Might not be one of my better plans, I'll admit.

SeaFields

oppenheimer1 wrote: »

the €7bn ish the Irish govenment is talking about is also over 4 years. It will be €3.5 to €4bn in cuts and extra taxes in December at most

€7bn in December according to Michael Noonan when he got briefed by the debt of finance. Is'nt it €14bn over the four year plan?

Yes, we are fcuked.

hinault

OisinT wrote: »

If the right cuts are made now and we start spending money on infrastructure and we get people back to work, things should be partially if not wholly recovered in 5 years.

The cuts in themselves will be pointless, if there is no increase in growth/reduction in unemployment.

The govt has cut spending by €12 billion since 2008, and our deficit and the rate of interest on our borrowing have increased.

We need to get this economy growing while managing to reduce government spending.

Tough road ahead.

Fratton Fred

ascanbe wrote: »

Those numbers are irrelevant.
Britain has its banks sorted; they will be willing and able to lend money.
The British government is cutting down on borrowing and making cuts in order to balance the books.
Even our supposedly solvent banks require huge transfusions of capital and if they survive, won't be lending money anytime soon.
Our government, with the Anglo-bailout/Nama will be making these cuts in order to pay off the debts of gamblers; debts we have no responsibility for.
And then will be continuing to borrow more, just to try and keep the country afloat, plunging us further into debt; and that's only if anyone will actually lend to us.
The situation Britain is in and our situation don't even bear comparison

I think another big factor is that the banks the Uk bailed out, such as RBS, will be worth a lot of money on a few years when the government sell their stake. Anglo will never be worth anything ever again, so the money being pumped in to it is just money down the drain.

FreudianSlippers

Sea Sharp wrote: »

How will spending money on infrastructure bring money into the country in the short term?

Creates jobs.

Stinicker

squod wrote: »

Austrlians owe a trillion of thier funny dollars to somebody else. Yet we're still emigrating there for work.

Wake the fuhk up FF!

Australia is booming both from Commodities and Food (a commodity too I suppose) they are exporting loads and their economy is doing well enough despite a global meltdown. There is a better quality of life and as things are now here a bum in Oz will soon have a better life than the working people of Ireland, he owes nothing and will not get raped by the Government for a start.

Ulysses Gaze

Austrlians owe a trillion of thier funny dollars to somebody else. Yet we're still emigrating there for work.

And our total external debt is something like $1.74 trillion in US dollars


As part of the UK cuts, they are taking the knife to QUANGOS

We have between 600-800 here costing around €16 billion.

Cut them in half and there you go - €x billion saved.

These QUANGOs employ 5,000 people max.

Not nice for people to lose their jobs but hey...needs must.

Dr. No

Sea Sharp wrote: »

How will spending money on infrastructure bring money into the country in the short term?

Short term thinking is partially what got us into this mess in the first place. Cutting back on infrastructure in the short term means that we will have a lot of catching up to do to compete with other countries. If we don't have the infrastructure in place companies will not want to invest in Ireland.
It's easy to say cut cut cut but the running the country is not like running a business.

FreudianSlippers

Dr. No wrote: »

Short term thinking is partially what got us into this mess in the first place. Cutting back on infrastructure in the short term means that we will have a lot of catching up to do to compete with other countries. If we don't have the infrastructure in place companies will not want to invest in Ireland.
It's easy to say cut cut cut but the running the country is not like running a business.

While you're correct, the main issue here is that the majority of unemployed are in the construction sector (which created domino effect to other sectors) - investing in infrastructure is a solid way of getting people back to work in a way that serves the people in the way described... it's a long-term investment with short-term and long-term benefits to the economy and the people.

Mr Benevolent

That's why I'm drinking. Bring on Ragnarok and Gotterdammerung.

galwayrush

Confab wrote: »

That's why I'm drinking. Bring on Ragnarok and Gotterdammerung.

Sköll

Dr. No

OisinT wrote: »

While you're correct, the main issue here is that the majority of unemployed are in the construction sector (which created domino effect to other sectors) - investing in infrastructure is a solid way of getting people back to work in a way that serves the people in the way described... it's a long-term investment with short-term and long-term benefits to the economy and the people.

I agree with you. Unfortunately the government does not take this view.

FreudianSlippers

Dr. No wrote: »

I agree with you. Unfortunately the government does not take this view.

If we don't get them to understand this then we are genuinely fúcked

Dr. No

OisinT wrote: »

If we don't get them to understand this then we are genuinely fúcked

The government are more concerned with what the markets think than what Irish people think :mad:

galwayrush

Dr. No wrote: »

The government are more concerned with what the markets think than what Irish people think :mad:

FF have only ever been concerned at being in power at any cost,but it looks like now days, we are no longer in control of our own affairs, Europe is pulling the strings and they are afraid to admit it.