January exchequer returns: Tax down 660million

Fucking brutal, down €660million yoy. Every tax head got a hammering. Income Tax down 10% despite the doubling of the Income Levy over January 09! VAT down €350million - Christmas was brutal then. My forecast was for €29.5billion, I might have to lower it. The cost of servicing the national debt nearly tripled to €310million in January. Only bright spot is that spending is well down.

finance.gov.ie/documents/exc … tatjan.pdf

Yeah but Jan 2009 was in the middle of the boom so the difference should … oh, I see.

The weather wouldn’t have helped the VAT but the government’s inability to stabilise income taxes is the most worrying.

January’s VAT comes from Nov/Dec in the main and throughout the 2nd half of 2009 for businesses with a t/o of less than €1million. Income Tax is the only realtime indicator of the economy.

You got it in one sharper “the governments inability” end of story :unamused:

AHHH!! dickhead on RTE there on about weather blaming it for Jan returns XX how the fuck can THE RTE let this cunt on, it was utterly useless and actually disinformation, wankers wankers wankers, this country is a joke Mcwilliams was right its like the USSR,

"Glorious people our great leader with our warriors in the banks have tolled yet again to give you only a 20% drop year on year, the weather which was found guilty by a committee of not following the agreed mantra and has been give a dead sentance to be administered by John Gormley, the weather will be fed lentils and talks by green ministers about a “green wave”

Jesus, i think im losing it 8) :confused:

tv3.ie/news.php

:open_mouth:

That is a devastating set of numbers for a country that has turned the corner!

Hmmm…was this not entirely predictable and predicted. Levys and new taxes in recession counter productive? Even if we had to do it.

Well the weather supposedly kept people from shopping in the north and kept them shopping at home, so that kinda counters the spin that the weather is keeping the tax take down.

Austin Hughes said not to worry about the orporation tax figures. These are “distorted” He didn’t explain why. Don’t worry,Austin says it will be ok. :angry:

Comical has a €BN to lend so get out there now and buy your gaff!

these figures are against Jan 09 but did the Dof publish monthly forecasts at the time of the budget?

Why the focus on yoy. What’s the trend month on month, or Oct, Nov, Dec, Jan?

Of course income tax is down yoy. How many hundreds of thousands are on the dole now that were paying income tax in Jan 09? How many have emigrated that were paying income tax in Jan 09.

The past is a different country.

Ah, but according to the CSO and the unions, the private sector* is enjoying pay increases, so the tax take should be going up. In addition, as pointed out above, the income leveies are double what they were in January 2009…

*except those poor folk in unionised sectors like air traffic controllers and, eh, private hospital consultants

I’m working on the assumption that there were no/few wage increases. Crazy i know. Also I wonder if the same law of diminishing returns that applied to Vat has gone to work on the income levies, to the extent that their increase doesn’t cover the tax foregone with the increase of circa 250,000 on the ole king cole and another 50,000 on the plane for Canada/Australia.

In fairness the weather would not have helped one bit,

I know of places that had bear skeleton staff for first 2 weeks, told dont come in, dont need yeah…

Also how many lost days were there for employees unable to get to work, even if they were allowed too… Sure maybe they went shopping (Sarc)

Feb and march data will be key…

Massive declines and nothing goes straight down…

Expect something like the rate of decreases is slowing in Feb/March news media…

You know the 2nd derivative BS…

and anyway…random musings…

He also said rises in unemployment will ease up this year. Of course, left hanging in the air was the self-evident corollary: that’s because by that stage we’ll have 500,000 people unemployed…just about everyone who could have lost their job will have done. And not only that, we’ll have to completely re-invent the economy in order to find brand new jobs for every single one of those people because they ain’t going back to doing what they were doing during the fake boom.

Still, the CEO’s of the likes of Coillte and the ESB earn €400,000+pa, Gardai are on an average €60k, professional fees and services have hardly budged in price, average house prices are 10x average salaries, we have the highest personal indebtedness in the world (probably), our national debt is spiralling, the Unions are on de facto strike, NAMA hasn’t even started sucking up our money yet, the banks are zombies which is killing wealth creation…

And yet I have to listen to these ****s on the radio in the morning and 6-1 in the evening saying we’ve turned a corner? I’m pretty close to not giving a toss any more it’s just so unbearable.

“The big freeze hit the January sales” said the man on RTE nothing to see move on please

If cancer rates go up, will that be two bright spots?