Budget - what do people think?

[soc]

Personally it's exactly as I expected - the VIs were spared and the paye workers took it in the ass because the government didn't have the balls to make the hard choices and cut expenditure.

1.8bn in tax increases.... how in f**ks name do they think they can raise 1.7bn in taxes next year? Talk of property tax and carbon tax in the next budget - I'm down over 500pm - how in f**ks name are people goint to pay more taxes next year?

Watching Lenihan on Prime Time right now - he's such a smug bastard. He's talking of economic stimulus as he sleep walks us all into an era of deflation - what a feck w**ker

[Dave]

I thought it was the usual load of sh1t!!!

There was not one single mention about wastage and you're 100% Soc that they didn't cut expenditure enough!!

Next year is when we are really going to be hit, income tax will increase, property tax, child benefit will be means tested, or basically cut for anyone who actually still works!

I dunno, we made a few redundancies in our place and talking to a couple of them after, I'm jealous, they're packing up and travelling and basically just getting out of Ireland!!!

[kevinod]

I'm no economist, but there was absolutely nothing to encourage anybody to spend money, thus nothing to stimulate any economic activity. Not even a hint of a strategy to get things moving again, it was a very defensive budget. No encouragement to buy cars or houses or anything basically.

[optical illusion]

Vat should have been reduced. Working in retail I see it every day. And we are actually fairing out well at the moment.

This country is ghey, the government is a joke and every day I wonder if next year I'll be living in another country.

[soc]

Personally I see the country in a heap of potential trouble with the toxic assets madness.

In terms of taxation and the economy - welcome to Irelands new deflation - I'm just amazed they cannot see this!

They didn't hit alcohol or petrol to prevent people going up north.... that's a laugh cause I'll be going outside Ireland for pretty much everything I buy from now on - the savings are just too big to ignore and it's my way of giving the government 2 fingers.

[adrian]

For anyone on here with children we have a summary of how childcare and children's allowance etc are effected at:

http://www.mychildcare.ie/budget2009

[Dragonheart]

What happened in it just makes me more glad I'm out of this place in a couple of months.

[Mustang]

No great suprise on the income levy or PRSI health levy. But the raising of the PRSI ceiling will mean a big hit for certain people.
Should have dropped the vat down to the minimum allowable 15%.
Should have reduced welfare payments.
Should have reduced number of ministers and jnr ministers by more. And reduced their salaries and expenses more.
TBH I was just relieved they didn't hit the petrol or motor tax -which I was sure would be hit hard.

[soc]

TBH I was just relieved they didn't hit the petrol or motor tax -which I was sure would be hit hard.

Wait for the next budget - I've heard they have definite plans for an increase in C02 based motor tax. Other taxes mentioned were property tax, carbon tax (both mentioned yesterday) and water tax.

Tax bands will also be widened and rates increased but the levy should be reduced in this case (that said, would you believe them).

The 80bn - 90bn will become an albatross around the neck of this economy as the property market collapses and international markets raise interest on sovereign lending. BOI hit a low of 0.60 this morning by 10:30am (from an open of 0.99) - back to 0.77 & I believe Irish CDS spreads are increasing

http://www.xe.com/news/2009-04-07%2016: ... rentPage=1

LONDON, April 7 (Reuters) - Investors paid more on Tuesday to insure against the Irish government defaulting on its debt after the country unveiled its second emergency budget in six months to try to fix the worst public finances in Europe.

I think we're fooked because there is no real reform to cut expenditure and they are trying to tax their way out of a massive hole which will just cause large scale deflation. Like I said, I'm glad (a) I have no kids right now & (b) I have no mortgage.

[johntony]

its time for a new goverment with new ideas before were all screwed you cant recover an economy without incouraging spending. the exspensies the goverment give themself is a joke were the laughin stock of europe and why do ministers get there state pension ten years before anyone else how much would that have saved over the years?