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 viewtopic.php?f=54&t=60326
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
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 viewtopic.php?t=62680&p=775745
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
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
