Budget 2014


#261

Full Budget doc here
budget.gov.ie/Budgets/2014/Docum … posite.pdf

No PRSI in that context noted there either


#262

Or


#263

Ok, so it would seem that the government viewed the collection of PRSI, on all earned income, as a logistical nightmare and have abandoned ship with that plan.


#264

or clown


#265

There’s no reason to suppose that at all. Why would he mention bad news that’s already been announced a year ago? Fairly sure that in the absence of any info to the contrary, it will be DIRT at 41% and PRSI at 4% for everyone from Jan 2014. Total hit up 50% compared to just a year ago and more than doubled in 5 years. Thanks Baldy, I’ll be spending a lot less in the economy as a result. :cry:


#266

Full Expenditure report now also up

budget.gov.ie/Budgets/2014/Docum … 202014.pdf


#267

Well the old booze run up the North will be restarting very soon for me.


#268

I hope you’re right, but have they said as much?


#269

Just speculation, they have not said as much. Can someone ask Noonan / DoF about PRSI !?


#270

A sugar / fat content tax would be too much to ask. ffs

edit: fat -> fat-content


#271

Usual tinkering around the edges without any fundamental reform or overall plan. The short-sightedness of some of the measures is truly depressing.


#272

I think you might be right. Opposition spokesperson on RTE News just now (sorry, I forget who) has just made a similar point about Children’s Allowance. He highlighted the contradiction between Noonan saying it would be unchanged when a reduction for the fourth child announced last year will come into effect from January 1, 2014.


#273

Money sitting in a deposit account isn’t being spent in the economy anyway. One of justifications for increasing DIRT is that it will discourage people from saving and get them to spend more!


#274

I was talking about the interest, which is my entire income. Baldy now takes almost half of it.


#275

It’s quite a good substitute for a Bail-in. The government don’t need to take your money if they take the interest and use it to get more debt. A balancing act to try not cause the money to flee to foreign shores, but I reckon the money that’s still here won’t leave too easily. One to watch in the bank deposit stats over the next few months.

[Lenihan]Thankfully there won’t be a capital flight because we live on an island.[/Lenihan]


#276

If you have savings and a variable mortgage, it would probably make sense to pay off capital.


#277

What the fuck?


#278

Fixed that for you. :slight_smile:

I might not spend that money now, but I’ll spend it eventually, like YM’s aged relative and in the meantime, the banks can lend it to people who will spend/invest/snort it, while paying me a pittance for the use of it. What Noonan’s taxes won’t do is make me rush out tomorrow and buy stuff I don’t want.

Look on the bright side, at least it’s better than a wealth tax, which will simply encourage lumpy mattresses.


#279

Doesn’t work. People are contracting spending due to lower interest income – they’re not speculating to get higher returns, because most of them got crushed “investing” over the last decade.


#280

AFAIK it hasn’t been possible to live off deposit interest any time in this century.

https://www.ronanlyons.com/wp-content/uploads/2009/06/long-run-real-interest-rates.jpg
Real interest rates in Ireland, 1975-2009
Source: ronanlyons.com/2009/06/12/pr … e-to-save/