Search Results for 'Public finance'

A No vote to the Fiscal Compact Treaty would lead to greater austerity in Ireland and see the interest rate the State pays on its borrowings increase.

Sinn Féin councillor Thérèse Ruane has called for clarity on the deal on Anglo promissory notes. She insists that any deal with the ECB must result in a debt write down and not merely postpone the debt to be paid by future generations.

The deadline is looming for every house owner in Ireland to pay the new property tax, and understandably people are asking: when does it stop?

The deadline is looming for every house owner in Ireland to pay the new property tax, and understandably people are asking: when does it stop?

This time last year Ireland was convulsed – and horrified – by some of the most chaotic political scenes in living memory as the Cowen government disintegrated.

NO

Things are heating up - not necessarily in terms of the upcoming festive season - or indeed in regard to outside temperatures, but just in a general sense. After the historic events of the week - the lacklustre Taoiseach State-of-the-nation address on Sunday followed by the half-and-half ‘slash and burn’ budget over Monday and Tuesday, a new force is building. It is not a positive force. The momentous proceedings of the past week put paid to any chance of positive people-power being harnessed. If anything, the spirit is sapped.

IBEC, the group that represents Irish business, has stated that the Government has relied too heavily on increasing tax in Budget 2012, rather than reducing current expenditure. The group welcomed specific measures aimed at supporting R&D and financial services, attracting mobile talent and restoring normal activity to the property market, but said the scale of these positive measures was small when compared to the very negative effect of the €90 million increase in employer PRSI charges and the major reduction in the redundancy rebate, announced yesterday. The total cost of Budget 2012 to business will be in the region of €400 million.

Budget 2012 is unique in that the proposed expenditure cuts were announced a day ahead of the tax changes and also many of its provisions were well flagged ahead of Budget Day. The financial adjustment was set at €3.8bn with €2.2bn coming from expenditure cuts and €1.6bn coming from increased taxation. Despite all the advance leaks and speculation the Minister managed to keep a number of the changes secret until the Budget Speech especially in the area of incentives to business and measures to kick start the property market.

One of the most anticipated Budgets of recent times was presented by Minister Noonan this week. Although, many of the measures announced had been expected, there were a few surprises.