Budget 2015

The 2015 Budget is due to be held on Tues, Oct 14th 2014

This could be the Budget that takes down the FG/Labour coalition

The 2bn adjustment required seems almost assuredly at this point in June to be a step too far for many coalition TDs in FG and esp. Labour back benchers.

There are some measures announced from 2013 such as Water charges which will kick in from 2015. For the record, the Budget 2014 thread is here

It looks like the HSE will be up to 500m over budget this year. It is hard to keep cutting their annual budgets when they haven’t stuck to any of their last 7 budgets or so in a row!

Social Protection are over 100m under budget this year so far due to lower unemployment rates. Some of this can give the HSE relief for 2015.

Growth and Tax figures will be key for Budget 2015 preparation.

Q1 2014 growth figures are out this June, inc. the final growth figure for 2013.

The tax figure to end of Sep will be known come Budget day but the important Nov self assessment returns will of course not be known

You can make pre Budget 2015 submissions until 16th June
moneyguideireland.com/budget … r-say.html

‘Full €2bn in budget consolidation not needed’

irishexaminer.com/business/l … 71677.html

We know the tax take is higher than projected so far. But isn’t this being cancelled out by the huge HSE overrun?

A lower than expected annual interest bill is good of course.

We have discussed here bofore that the GDP figures are to be revalued to take account of these informal economic measures

But the impact of sex and drugs were already felt in the economy. The GDP figure may grow once off but no net change really to the public coffers. But perhaps we’ll see a public confidence and markets boost by seeing positive figures

  • The cut-off point for the standard rate of Income tax will be raised from it’s currently low base.
  • Will they finally address the disparity with Motor Tax rates? Maybe this year
  • Ciggies to be hit

Am guessing they’ll raise the rates on newer cars rather than cutting the rates on older vehicles.

Cork council commits to 15% cut on property tax

irishexaminer.com/ireland/co … 71557.html

Cork first out of the blocks to cut LPT. Is it from 2015 they have this discretion? Article doesn’t say…sigh!

Yeah, the Greens are long gone and it’s an easy one to do

Yep - would agree that’s what’ll happen.

Offer incentives for people trading down

independent.ie/life/home-gar … 50641.html

Not the best written article but some sort of incentive (like a CGT break) to trade down may be helpful.

The again, is there much suitable stock to trade down too?

Europe wants adjustment of over €2bn to lower budget deficit

rte.ie/news/2014/0612/623458 … to-budget/

Put that in your pipe and smoke it Labour!


Bloody foreigners, not letting Labour try bribe the electorate

Battle lines drawn in the Coalition over planned Budget cuts

independent.ie/irish-news/po … 75661.html

So ‘only’ a 1bn cut being proposed then? Sure isn’t that a win for Joan

when you factor in the HSE over runs, its probably no adjustment at all!

Water charge should cover a good chunk of the 1st billion.

Nope. One of the weekend papers (SBP, Times?) was reporting that the first year’s water tax will be largely used for critical infrastructure work the need for which has been (conveniently?) discovered during meter installation, despite the tax being originally intended to fill central govt. coffers.

ESRI recently said because no fixed charge is now going to be levied, the tax take in a full year would be closer to 350m, not 500m.

And as Eschatologist notes, Irish Water have a massive job on their hands to upgrade our water supply. This money should really be ring fenced for Irish Water to conduct their business properly, with an annual dividend given to the State

Sunday Business Post

Sometimes the media does not understand what they are talking about :slight_smile:

Nevin Economic Research Institute calls for €800m Budget adjustment


It says there is no room for further public service cuts and instead opts for more taxes.

Wonder what will happen to our bond spreads if we go significantly under 2bn adjustment

So first it was 2bn, then 1bn, now 800m. Any other takers?