Effect of Budget Cutbacks

[dewdrop]

Apologies if i am in the wrong forum. What puzzles me is that over say past 3 years there has been various cut backs in the various budgets yet in the period from Nov 2009 todate there has been only an improvement of only 722m on the Cuurent Account balance down from a deficit of 10433m to 9711 m.

 

[newirishman]

I'd guess that is because the overall tax intake went down from something around 56bn in 2006 to just 43bn in 2010, whereas expenditure didn't fall as much despite the corrections.
The cutbacks in spending weren't as massive as the fall in intake, despite any corrections.