Tax receipts €520m below target

Quick question, are the €3.1bn in promissory note payments for Anglo Irish Bank, and €7.6bn for bank recapitalisation the final payments, or are we scheduled to fork out more next year ?

For Anglo I think its about 3bn a year for the next 8 or 10 years.

who would have thunk it, you can’t tax your way out of a depression! ah well I’m sure a 2% vat increase will sort it.

So is the deficit really 14bn, assuming no similar (or any) bank recap’s in 2012? Just trying to get a handle on how far we’ve to go.

To be running a deficit of 21bn with a tax take of 32bn - thats some overspend.

Capital spending is €1 billion less than expected though.

As MacSharry said, cut once and cut deep. We are are having a repeat of the the early 80s here, with a drip torture.

To cut once in this case was not possible, remember the corners we kept turning as we dug deeper into the banks. We are 21 billion in cuts in and lots more to go.

maybe the penny will start to drop, we cannot pay back the bank debt patriotic lenny took on without becoming debt serfs to europe. But Don’t forget vote yes for jobs

whats wrong with people, why wouldn’t they go out and spend :mrgreen:
its your duty to get into debt too bail out the government and bankers

seriously though
will the government now wake up to our unsustainable debt
we were told less than 2 months ago that the chances of repaying all the debt was on a knife edge

this was based on growth of 2-3% over the next few years

The irish national accounts are a crock. They dont record all revenue, or expenditure.

Expenditure is also 1 billion less than expected, so the half billion less in tax receipts doesn’t have any net negative effect on deficit targets for now

So how are my projections looking ?

as future prediction go it will be more accuracte than anything else i have seen
…if we continue on this path