The Government has Just €800m to Play With

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Sophrosyne

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Subtracting committed expenditure, the Government has just €800m.

How should this be used in Budget 2019?

Any thoughts?
 
Should any of it be used I say this as someone who is retired and getting the contributory pension,
T suspect the above is before any new taxes or increasing old taxes ,
What about having a look at the committed expenditure and redirecting some surely this is the first thing you need to look at when drawing up a Budget,
 
Sophrosyne said:
Could you elucidate?
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Just to take an example If I was self employed and pay 4% PRSI it only covers 23% of what is paid back out in contributory pensions claas S
TO cover some of this the have now extended PRSI to all earned income without any cap
A good example would be landlords now shoulder this PRSI for the last number of years without any cap ,
If we were to give all/some of this back to landlords there would not be 800 million to spend,
I know I will get the blood up on some people but this is not what i set out to do the above may be a bad example but at least it will start the ball rolling ,

I will be away for the next week and askaboutmoney or tax will be far from my mind,
 
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It shouldn't be spent. It's an absolute scandal that we're still running budget deficits. We've learned very little it seems and here was me thinking that FG were the party of "fiscal rectitude". When it comes to voting in Ireland we have to chose between 3 or 4 flavours of centre-left, or the absolute loopers on the far-left.
 
24601 said:
It shouldn't be spent. It's an absolute scandal that we're still running budget deficits. We've learned very little it seems and here was me thinking that FG were the party of "fiscal rectitude". When it comes to voting in Ireland we have to chose between 3 or 4 flavours of centre-left, or the absolute loopers on the far-left.
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Could you expand on this?
 
24601 said:
It shouldn't be spent. It's an absolute scandal that we're still running budget deficits. We've learned very little it seems and here was me thinking that FG were the party of "fiscal rectitude". When it comes to voting in Ireland we have to chose between 3 or 4 flavours of centre-left, or the absolute loopers on the far-left.
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To be fair FG are making some effort and allowing people have there say before the Budget for a change,
I think after the next election what will be left of FF will merge with FG and we will get a proper left right choice leaving the loopers out of it,
 
When you frame a budget and you are in a position to run a surplus or deficits and you decide to go and spend 800 million in new spending and take it for granted there are no savings to be had or look to see are you charging enough in the existing budget for the services you are providing,

In other words you want to take in one euro and spend two ,

or you under charge some high income earners,and transfer the cost to other high income earners because they do not have a strong lobby group,
 
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Sophrosyne said:
???
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You said, subtracting committed expenditure the Government has €800m to play with. Im reading that as after everything that has been spent on what has already been promised that there is still €800m in the till.
Meaning revenues are €800m over what has been committed in expenditures?
 
TheBigShort said:
You said, subtracting committed expenditure the Government has €800m to play with. Im reading that as after everything that has been spent on what has already been promised that there is still €800m in the till.
Meaning revenues are €800m over what has been committed in expenditures?
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Would it be more in our line to start Playing around with the committed expenditatures? to see what we are paying for that is not needed any more or could be tweeked better useing technology/ to target better use of the money we are already spending as an example should we still be paying out widows and widowers pensions to everyone who are working I see there was a Court case in the North where a couple who were living together and one of the partners died won there case I would agree with the decision the question is should we still be paying it out to everyone just because there married partner died,
so you don't bother your head seeing if you should be charging more for the expenditure committed as in example The IFA lobby groupwere looking for a special deal for farmers on nursing home fees


since the last Budget the government has gone along with it Then the Attorneys general advice was that they could not do it because it would be unconstitutionl to do so,

later on in the year the government got around it by including Business along with farmers you could call this expenditure committed but they should have looked at seeing could they recover some of the cost from the groups who benefited from it ,

You now have a situation where a paye person in a nursing home finishes up paying more for there care than they farmer/business person beside them since the last Budget,even though it was not included in the last budget,

I think you will find the nursing break given to this group will be paid from the incomes of high earners ,
Should we look at increasing Inheritance and acquisition tax to fund this giveaway to lobby group on nursing Homes not loading it up in most cases on high income groups,
The nursing home is an example of where we give to lobby groups between Budgets and is regarded as committed expenditures having being added by Stealth during the year and gets silently added to the burden of high income payers,

Should we list out all of the Stealth of committed expenditure which were not announce in the last Budget and silently add later on,

If these lobby groups had to share the burden among them self they may not think it was a good Idea

:) Remember There was away more than 800 million to play with since the last Budget but lobby groups have already moved and taken most of it silently and by stealth before the next Budget,:) leaving the crumbs to be fought over ,
 
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Sophrosyne said:
The Government has €800m to spend. That's it. Deal with that.
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Or 800 million to waste and play games with voters,

How about also having a look at they amount of money already committed since the last Budget and the amount of tax Required to service it in this Budget ,

It is the money committed between Budgets which is driving up income tax for the most part on high earners which seldom can be taken back so is ongoing for ever and a day,
 
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I don't think any income increases should be given either through taxation or social welfare. I think a bulk of it should build social housing estates . But a management company of some sort should be set up to run them. So that rent is collected and they are run properly. Any tenant with bad behavior out! This would be a one off expenditure and so I think most people would be in favour of it. Other than that better carers services for old people. Would be a good place tobspend money. Old people deserve to be treated well
 
The wealthiest coterie in the country are the OAPs. Their average wealth is something like 50 times that of someone in their 20s and 30s. It’s time to focus on younger families through childcare and housing. The idea of further €5 or €10 increases for pensioners is laughable; cynical politics at its best purely because they vote.
 
Gordon Gekko said:
The wealthiest coterie in the country are the OAPs. Their average wealth is something like 50 times that of someone in their 20s and 30s. It’s time to focus on younger families through childcare and housing. The idea of further €5 or €10 increases for pensioners is laughable; cynical politics at its best purely because they vote.
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Is it also cynical to be looking at trying to hold onto the 40% tax break on pensions contributions should we also be getting rid of the tax free lump at retirement seeing the soon to become pensioners are so well off
I think I know the cynical reply already

BY the way on my first reply to this post i posted we should not be spending any of the 800 million meaning no 5 euro increase,
 
RETIRED2017 said:
Is it also cynical to be looking at trying to hold onto the 40% tax break on pensions contributions should we also be getting rid of the tax free lump at retirement seeing the soon to become pensioners are so well off
I think I know the cynical reply already

BY the way on my first reply to this post i posted we should not be spending any of the 800 million meaning no 5 euro increase,
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It’s ridiculous to talk about the “40% tax break” or “the tax-free lump sum” in isolation. Take someone with decent income; he/she doesn’t get relief from USC or PRSI on the way in. Circa €360,000 of tax relief might be given on the way to building the maximum pension pot of €2m. What happens then? €60,000 of tax on the lump sum. Penalty tax at 40% on anything over €2m. Circa €30,000 of income tax and levies a year, probably for circa 30 years, so another €900,000. And then €450,000 of tax when the ARF is inherited.

The State “invests” €360,000 and, without having to take on any risk or any stress, should be expect to earn circa €1.5m or more thereafter. The State should be wrapping these people in cotton wool and sending them Christmas cards.
 
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