Budget will be at least 5.7 billion

Denzil2222

David murphy said on the news at 1 that Lenihan will announce later today that this years budget will be 5.7-6 billion of cuts and taxes. May god help us

ashleey

Hopefully, He's looking at some more significant problems, like starving children in failed African states etc. (and I'm not religious)

padma

ashleey wrote: »

Hopefully, He's looking at some more significant problems, like starving children in failed African states etc. (and I'm not religious)

Like failed African states have debt problems, Ireland too has massive debt problems which need to be addressed. Difference is people do not die of starvation here (thankfully) Yet I wouldn't compare our situations as, in this country the amount of personal debt as well as public debt are quite significant. I used to give to Development organisations but, unfortunately have had to stop them due to my own financial issues. I guess the country as a whole has to look in a similar fashion towards its overseas development budget too.

RichardAnd

padma wrote: »

Like failed African states have debt problems, Ireland too has massive debt problems which need to be addressed. Difference is people do not die of starvation here (thankfully) Yet I wouldn't compare our situations as, in this country the amount of personal debt as well as public debt are quite significant. I used to give to Development organisations but, unfortunately have had to stop them due to my own financial issues. I guess the country as a whole has to look in a similar fashion towards its overseas development budget too.

Personally, I think looking without whilst there are problem within is a folly. Help yourself so you might better help others.

padma

RichardAnd wrote: »

Personally, I think looking without whilst there are problem within is a folly. Help yourself so you might better help others.

Certainly true in our current situation. Either way the G.D.P is gonna be down so the amount of hard cash going overseas will be less. What will be interesting is if they will drop the G.D.P percentage in overseas aid, and by how much.

ashleey

The comparison between failed African states and here makes sense. If we give aid to Mugabe we do little to help starving poor in Zimbabwe. If we pay more tax to govt here how effectively do we improve the lives of poor here?

padma

ashleey wrote: »

The comparison between failed African states and here makes sense. If we give aid to Mugabe we do little to help starving poor in Zimbabwe. If we pay more tax to govt here how effectively do we improve the lives of poor here?

The more we pay in tax here, the higher the amount of money is here, the higher the amount of money in the country, the higher the amount of money sent overseas. The higher the amount of money in the country means, more funding for community development schemes, funding for the elderly, the homeless, disability projects and respite centres etc etc etc.... So, the key really is to look within and have a better economy, means more cash for overseas projects and local projects here too.

ashleey

Absolutely right.

The problem with your logic is that, paying more tax here does not necessarily lead to a bigger domestic economy given the 'snouts in the trough' escapades of the politicos and others

padma

ashleey wrote: »

Absolutely right.

The problem with your logic is that, paying more tax here does not necessarily lead to a bigger domestic economy given the 'snouts in the trough' escapades of the politicos and others

Though before the crash/recession a lot of the community projects were getting funding, and were able to provide services to people who really needed them. Last years budget crucified these projects.

Before the crash/recession as a country year on year we were reaching closer and closer to the .7 G.D.P target. Massive money was doing some amazing stuff overseas. We were in a surplus. The money just aint there at the moment. Now we are in a deficit, It can't magically appear unfortunately. Our borrowing rates are unbelievably high at the moment. We simply at this stage can't borrow on behalf of another country, ie, The Sudan or whatever.

ashleey

padma wrote: »

Though before the crash/recession a lot of the community projects were getting funding, and were able to provide services to people who really needed them. Last years budget crucified these projects.

Before the crash/recession as a country year on year we were reaching closer and closer to the .7 G.D.P target. Massive money was doing some amazing stuff overseas. We were in a surplus. The money just aint there at the moment. Now we are in a deficit, It can't magically appear unfortunately. Our borrowing rates are unbelievably high at the moment. We simply at this stage can't borrow on behalf of another country, ie, The Sudan or whatever.

Indeed. I was just trying to draw attention to a belief that this year's budget is the biggest crisis of human existence. It isn't.

Having said that, given past experience you can pretty much predict which sections of society will be 'sharing the pain'.

pocketvenus

ashleey wrote: »

Absolutely right.

The problem with your logic is that, paying more tax here does not necessarily lead to a bigger domestic economy given the 'snouts in the trough' escapades of the politicos and others

I agree with you here every single minsiter be they FF, FG, Lab etc have been and are still at the trough and even with Budget figures of €7 billion it be a long time before that changes.

It needs to start at the top down - minister salaries, expenses, perks, penions etc need to be slashed, there needs to be a complete overhaul of the PS, agencies and quangos needs to be abolished. Then they can start talking about inflicting pain.

With this current budget who will suffer is the people who cannot afford to -

The working / middle class will be squeezed by higher taxes, more levys and increases in fuel, light, service charges and any other new tax and charge they can bring in.

People who have been made redundant will see the amount they have to survive on fall even less leading to more bad debts and social issues for Government in the long run.
While the people who never worked a day in their life will still be able to play the system and do quiet well off it and why becasue the Goverment does not have the guts to weed out these fraudsters and local councils too who know the blatent fraud and abuse of the system but turn a blind eye - why the excuses we get oh it would cost too much to bring in a proper system, the office staff won't work a hour longer or they are too scared of these people.
Instead we get what the Government want a wide sweeping assumption that everyone on the dole is a scrounger so that suits them.

Cost of living also needs to be addressed while yes certain things have come down but on average alot of essentials are due to sky rocket next year - insurance, fuel, light and heat with this new pso levy, local service charges also are due to go up never mind say new taxes they are dreaming up to introduce, education costs to rise etc.

Riskymove

now confirmed as €6bn

http://www.irishtimes.com/newspaper/breaking/2010/1104/breaking15.html

Information note available here

http://www.finance.gov.ie/viewdoc.asp?DocID=6562

mox54

we are far too meek for our own good, we have no problem moaning and bitching but take all this off them too,the people in charge of this country have messed it up and we've been robbed so we need to relpy in a meaningful way and not just lie down, we shouldn't take the cuts, simple as!!, say no and let the bondholders loose their shirts, tough on them, let the banks fail, tough.......why should we take the pain for their obvious mistakes and robbery!!!

flutered

mox54 wrote: »

we are far too meek for our own good, we have no problem moaning and bitching but take all this off them too,the people in charge of this country have messed it up and we've been robbed so we need to relpy in a meaningful way and not just lie down, we shouldn't take the cuts, simple as!!, say no and let the bondholders loose their shirts, tough on them, let the banks fail, tough.......why should we take the pain for their obvious mistakes and robbery!!!

because they are buddys of dff, buddys of the bankers tankers daddy, dff do not give a fiddlers fcuk about the people of this country, never have, never will, a dff counciller replied when asked by me what plans have your lot got for the economy, he replied the same as always, emigration, saying it worked well down through the years, all dff people got/had jobs, then they will keep voteing for them, the others who have emigrated would be voting abdff, so they would not be around to rock the boat.

Bullseye1

This clearly shows that these clowns haven't a clue what they are at. The budget cuts have almost doubled in less than 3 months. Wow. As a self employed person whos work has halved in the past two years its getting more difficult to see a future here.

ashleey

They have zero credibility and this announcement was about reclaiming that in front of the lenders. We'll see if it works over the next few weeks. Irish bonds are very oversold at the moment so don't be surprised if any likely improvement is seen as a vindication for today's statement. In reality though they won't be able to improve the budget position by 6 bn. They can't not build any roads again as they have already stopped all capital spending. It will have to come from current spending and that is always tricky even without the archaic practices that exist here.

ardmacha

They can't not build any roads again as they have already stopped all capital spending.

Of course they can. There is probably over 100Km of motorway already open this year, and another section opening next week. That's a huge capital investment, far more than most places, of course this can be reduced.

flutered

plus the healy raes need another bypass.