Opinions on Budget 2022

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Firefly

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I'm calling this budget reckless.

The economy is expected to rebound strongly - in such times governments should adopt a countercyclical policy and reduce spending, not increase it.

The national debt is 240bn. As we all know by now, governments never repay debt, they merely roll it over. Interest rates are currently very low so borrowing can seem attractive...all fine & well until interest rates rise and we need to refinance this debt.
 
When you roll the debt over, your interest costs will soar leaving two options, neither very attractive,

1. reduce spending
2. increase taxation
 
Firefly said:
The economy is expected to rebound strongly - in such times governments should adopt a countercyclical policy and reduce spending, not increase it.
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The "When I have it I'll spend it" doctrine has always served us well in the past. Sure what could go wrong?
 
Deiseblue said:
A budget that reflects Sinn Fein’s popularity writ large
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I think that should be "A budget that reflects Sinn Fein’s populism writ large".
If so I agree. I vote on the basis of selecting the prospective government that will do least harm. For the last good while that's been the Blue Shirts. Social issues are decided by the Courts, derived from EU laws and treaties, so there's no point in voting on that basis. The liberal agenda won that battle, which is a good thing in my mind.
So, it's all about economics and where and how the Government chooses to waste our money.
 
Purple said:
I think that should be "A budget that reflects Sinn Fein’s populism writ large".
If so I agree. I vote on the basis of selecting the prospective government that will do least harm. For the last good while that's been the Blue Shirts. Social issues are decided by the Courts, derived from EU laws and treaties, so there's no point in voting on that basis. The liberal agenda won that battle, which is a good thing in my mind.
So, it's all about economics and where and how the Government chooses to waste our money.
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We could really do with a reincarnation of the PDs before they sold their soul to Bertie. Fine Gael, even as the party furthest to the right, are left wing economically. There's no political home for fiscal conservatives in Ireland any more.
 
jpd said:
When you roll the debt over, your interest costs will soar leaving two options, neither very attractive,

1. reduce spending
2. increase taxation
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However the NTMA only last week said our interest on all debt has decreased by €2bn to €4.5bn and from memory we don't have and repayments until later in the decade.

I'll try and find the story and link it
 
Purple said:
The "When I have it I'll spend it" doctrine has always served us well in the past. Sure what could go wrong?
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That's almost 20 years ago, we had 4bn surpluses inflation ran up happily and the SSIA was introduced.
Charlie gets shafted and sent to Europe but it was too late by 2006 the whole house of cards was falling, we moved back from Galway in early 2007 and many were saying a 10% correction was likely, turned out to be 55% and utter devastation of the economy.

Tuesday's budget has certain similarities but unlike the early noughties we have the EU looking over our shoulders.
 
24601 said:
We could really do with a reincarnation of the PDs before they sold their soul to Bertie. Fine Gael, even as the party furthest to the right, are left wing economically. There's no political home for fiscal conservatives in Ireland any more.
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I actually had a conversation with Dessie O Malley in Fota about 10 years ago and I asked him if Ireland would have or accept a party like the PDs again, he simply said "No, as society didn't want the black and white policies" and he was right we seem to give "everyone in the audience a fiver " when the budget is put together.

It achieves nothing this policy, there is so much wastage of money and brain power in this country and it has been like that for ever, we'll never change now. I'm 54 and if I get to 74 I'll guarantee that our debt will be 100% of National Income and I'll get €5 a week extra in my pension.

Our kids will be in their early 40s and living abroad, one has already started that journey, the other biting at the bit.

As a country we treat citizens disgracefully and have done forever and more so since 1921.

We have great minds but trying to start a company here is easy but the Government and its tentacles await to strangle anything that might be of use, I have so many examples of this that I helped to start, but only one really made it and that was funding from the UK.

Nothing will change
 
Paul O Mahoney said:
I actually had a conversation with Dessie O Malley in Fota about 10 years ago and I asked him if Ireland would have or accept a party like the PDs again, he simply said "No, as society didn't want the black and white policies" and he was right we seem to give "everyone in the audience a fiver " when the budget is put together.

It achieves nothing this policy, there is so much wastage of money and brain power in this country and it has been like that for ever, we'll never change now. I'm 54 and if I get to 74 I'll guarantee that our debt will be 100% of National Income and I'll get €5 a week extra in my pension.

Our kids will be in their early 40s and living abroad, one has already started that journey, the other biting at the bit.

As a country we treat citizens disgracefully and have done forever and more so since 1921.

We have great minds but trying to start a company here is easy but the Government and its tentacles await to strangle anything that might be of use, I have so many examples of this that I helped to start, but only one really made it and that was funding from the UK.

Nothing will change
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My observations as an immigrant to this country is that is a highly successful and prosperous country (overall), but really badly run.

In terms of the Budget, there was nothing in there that will properly address the housing crisis.
 
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time to plan said:
My observations as an immigrant to this country is that is a highly successful and prosperous country (overall), but really badly run.

In terms of the Budget, there was nothing in there that will properly address the housing crisis.
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Our electoral system ( PR ) is one of the root causes of our inability to best manage.

Every TD must look over their shoulder constantly less they see a rival get ahead of them on populist policies
 
time to plan said:
My observations as an immigrant to this country is that is a highly successful and prosperous country (overall), but really badly run.
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I think that's an excellent summary of this country.
time to plan said:
In terms of the Budget, there was nothing in there that will properly address the housing crisis.
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The housing crisis is an international phenomenon. We are feeling it more than most because we are a more open economy than most. I think there's a fundamental misunderstanding of the issue in that the narrative is that it has been caused by a failure of Irish Government policy. Government policy has probably exacerbated the problem but it hasn't caused it. We are a tiny boat floating on the vast river of international capital flows, all we can do is tack our sails but we can't direct the river.
 
galway_blow_in said:
Our electoral system ( PR ) is one of the root causes of our inability to best manage.

Every TD must look over their shoulder constantly less they see a rival get ahead of them on populist policies
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Yep, we've an excellent system for electing County Councillors but unfortunately we use it to elect them to our Parliament.
 
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