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Budget 2011

  • 22-11-2011 1:51pm
    #1
    hardybuck
    Registered Users Posts: 5,174 ✭✭✭


    Filled with dread about the upcoming budget, imagine for a minute that you are Minister for Finance - what cuts would you impose? A bit like the Football Manager game when you take over a West Ham squad that was relegated and has a squad on huge salaries!

    The likes of the VAT increase for me is pure stupidity. It applies to a lot of price elastic products and luxuries, and will suck a lot of spending out of the economy.

    Areas I would like to see examined:
    • Means test Child Allowance. Miriam O'Callagan does not need the €1,332 she is entitled to each month. Cut by 10% across the board, followed by introducing a new sliding scale of benefit tied to the household annual income, and abolish where household income is in excess of €150k per annum.
    • Means test OAP entitlements. Unpopular but necessary in my book. A retired couple at present may claim a state pension of €460 between them. Add that to free travel, medical cards, no TV license, possible private pension, mortgage paid off and no children - you can see they are better off than a large proportion of society.
    • Overhaul of TV License system. As the employer collects PAYE on behalf of the Government, the cable television providers should be collecting TV License. Increase the income on licenses, reduce Government spending on RTE and inspectors.
    • Cuts to RTE salaries. The Top 10 earners are paid a total of €3.95m, so I think moderate cuts across the board here should bring in a couple of million easily.
    • Cut Foreign Aid: Ireland currently spends over €600m annually here. Sorry guys - we're broke too...
    • The Seanad: Costs the taxpayer approx €30m per year, or €50,000 for each hour it sits. CUT!
    • Cut Rent Supplement: Are these artifically keeping our rental costs high?
    • College Fees: Put a cap on 'registration fees' as they stand, and collect a small % of graduates income for the first 10 years they work in Ireland.
    • Capital Expenditure: Proposed €750m cut seems reasonable
    Possible measures to encourage employment:
    • Retain current Home Energy grant system. Huge return on the €100m per annum I think it costs.
    • Introduct a similar scheme to the above for small and medium businesses. Would help SME's save money and hopefully help stay afloat, and create more jobs in the construction sector.
    Have I reached the €3.5 billion figure yet?


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