Budget 2015 who is going to fund all the increased spending

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I think the government has lost the plot. The only extra income is from fags, and we all know another 50p means even more people will buy them illegally.

So who is going to pay for

- increased civil servants salaries
- new teachers
- new gardai
- increased pension
- increased social welfare
 
Bronte said:
I think the government has lost the plot. The only extra income is from fags, and we all know another 50p means even more people will buy them illegally.

So who is going to pay for

- increased civil servants salaries
- new teachers
- new gardai
- increased pension
- increased social welfare
Click to expand...
Increased tax receipts as has been happening recently
 
Who's going to fund our pensions? Who's going to fund our election promises? Doesn't matter, there's an election coming down the tracks, all's that matter is that you get out and vote for the status quo.
 
I think this is all very simple really....

Do all you can to get the vote count up immediately.... worry about back tracking on some of these promises next year after the election is over :rolleyes:

I must say, while it was announced before today, my favorite remains the announcement on the new metro line to connect Dublin Airport to the city.... announcing it, then telling us the plan is to start work on it in 6 years time or whatever the exact period is, still makes me laugh. Sure they may aswell be promissing free holidays on the moon, commencing in year 2499 !
 
The thing that amazes me is that while we are busy congratulating ourselves on the economic recovery and 6% growth, they seem to have forgotten that we have record low interest rates, record low currency value with our main trading partners and record low energy prices. None of these things, the government control. Our 6% growth will turn into 6% contraction just as quickly if external factors change. But why worry about that. I am off to buy my helicopter.
 
theory is that as more people go back to work, social welfare costs fall and PAYE and other taxes rise. More profitable companies pay more in corp tax, people spend more meaning VAT take goes up etc etc etc

that's the theory. Reality, who knows???
 
I see Professor John McHale, the Chairman of the Fiscal Advisory Council, has expressed surprise at the scale of the spending increases announced in the budget and queried whether the budget will meet the terms of fiscal rules that require tighter budgets when an economy is growing strongly.
 
We have staggered to this point and I just don,t see things imploding.
That said, it seems very Fianna Fail-ish to spend the wee bit of extra funds just before an election?

If Professor Mc Hales worry is only that are we (bending) the Rules, I ain,t too worried.
If Professor Mc Hale is saying we are digging more holes for us and our children, then I worry.

Sarenco.
The way these deficits for any country are going; will country debts ever ever ever be repaid?
Or does this never never never never funding really mean a lot in practice?
 
As long as we keep voting for politicians who promise cake today and bugger tomorrow, we will get politicians who feed us cake today and let the children pay for it tomorrow - assuming that they haven't all emigrated, of course.

About time we grew up and acted as adults. Adults don't believe in fairy tales, do they?
 
@Gerry Canning:- if you can fund the interest and your economy is chugging along nicely, you should be okay. If things get ropey and you've economic stresses-n-strains, then it becomes worrisome.

Other countries have greater deficits than we do. Their economies are better 'placed' than ours is though.

Countries simply keep rolling over the debt, paying down the interest. When times are bad, and lenders shut up shop - that's when the music stops (2008/09). (Re rolling over the debt, google the UK and their Napoleonic war debt)
 
If the Commission takes the position that the budget constitutes a significant deviation from our medium-term budgetary objective (MTO) to achieve a balanced budget in structural terms (essentially to match revenue and day to day spending) by 2018, the Government could be required to take corrective action under the Fiscal Compact Treaty.

If it fails to do so, the Council could issue an Excessive Deficit Procedure (EDP), representing annual deficit or debt targets. Failure to comply with these targets could ultimately result in sanctions of 0.2% GDP.

I'm certainly not saying it will come to that, or even that Professor McHale's initial concerns are well founded, but the fiscal rules now have teeth so we should take them seriously.
 
Gerry Canning said:
We have staggered to this point and I just don,t see things imploding.
That said, it seems very Fianna Fail-ish to spend the wee bit of extra funds just before an election?

Fianna Fail were always good for business. It's the Banks that broke this country and they have been let off the hook. In reality there is no banking system in this country.

And as for the the future, take a look at the earning season in the US. The major Banks have very poor earnings which in essence filters through the rest of the economy. So this time next year we'll all be back to listening to the blame game all over again. FG just don't have a clue, anytime they have been in Government in the last 30 years they have made a complete mess of it. The only sector they look after are the very big farmers.
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Hah! I've just heard an RTE report to the effect that the Commission are saying that all is well with the budget from their perspective!

Let's party!
 
Sarenco said:
Hah! I've just heard an RTE report to the effect that the Commission are saying that all is well with the budget from their perspective!
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I don't think this is correct at all.

The Fiscal Council believes that the budget is too expansionary (an opinion). What happened yesterday is that initially Mr. McHale came on Morning Ireland (an unprecedented step - as normally the Fiscal Council waits a few weeks before commenting) stating his concerns that the budget may be in breach of EU technical criteria (a fact). He has now had to retract his factual error - albeit, quite ungraciously, regretting....."any confusion caused!" The Fiscal Council's opinion remains.

My opinions are that McHale should have checked his facts before making his comments and that the episode suggests a tension between the Fiscal Council and the Dept of Finance, pretty understandable. I'd say Minister Noonan is most pleased by all this - difficult to out-manoeuvre old foxes!
 
Re. Dereko,s 1969 comments.

Derek, Viewed with todays glasses you are correct.


BUT;

Back in (fluffy) times ,as this thread shows, things lost reason.
1. Didn,t matter she got a first Bank refusal, there were plenty of other nutter Bankers gagging to lend.
2.Banks do not have to give any reason for refusals , it was their money (today its ours !)
3.Mortgage Broker on 1st refusal moved to next (fluffy) lender.
4. Affordability in (fluffy) times was for wimps.
5. Of course it was a great idea ! wasn,t property values rising faster than a rocket.
6. Sister was getting on with her own life.

Derek you would also have been correct in the fluffy times , but no-one was listening !
 
Sarenco said:
Well, here's the statement issued by the Fiscal Advisory Council yesterday afternoon that references the confirmation received from the Commission regarding the applicable requirements for 2016.

http://www.fiscalcouncil.ie/wp-cont...e-Fiscal-Rules-Applying-in-2016-Clean-WEB.pdf
Click to expand...


There was 2 aspects to your post at 3.22pm
1. The scale of the spending rules
2. Compliance with fiscal rules

All I said is that McHale has retracted his comments in relation to point 2.

Their point regarding the scale of the spending remains. Struggling to see how you don't understand what I am saying or whether you are just being a little McHale like yourselfo_O
 
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