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 Post subject: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:00 pm 
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A delegation from the European Union and the International Monetary Fund (IMF) has returned to Ireland today to inspect the State’s finances.

The visit comes as new figures published yesterday show that the gap between tax revenues and Government spending soared in the first three months of the year.

http://www.irishtimes.com/newspaper/bre ... king7.html

How long before they demand 20% payroll reduction? BAILOUTS FOR DUMMIES - It is the salaries STUPID.


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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:17 pm 
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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:24 pm 
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Quote:
The increase in the deficit was largely the result of payments to cover the losses made by Anglo Irish Bank and Irish Nationwide Building Society.

The cash cost in the first three months of the year was €3.1 billion.

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:26 pm 
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FAUGH45568 wrote:
Quote:
The increase in the deficit was largely the result of payments to cover the losses made by Anglo Irish Bank and Irish Nationwide Building Society.

The cash cost in the first three months of the year was €3.1 billion.


Quote:
However, because the largest spending departments all recorded sizeable increases, total expenditure rose.

Spending at the Department of Health and Children increased by almost 10 per cent, to reach €3.5 billion.

At the Department of Social and Family Affairs, expenditure increased by almost 20 per cent, to €3.1 billion. The Department of Education and Science registered an increase of almost 11 percent, to €2.1 billion.


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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:32 pm 
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From the accompanying analysis by Dan O’ Brien:

Quote:
http://www.irishtimes.com/newspaper/fin ... ml?via=rel

By the by, one wonders if those involved in drawing up the recent Wright report on the Department of Finance’s performance during the boom ever looked at revenue patterns. The chart shows revenue growth started heading south in the first half of 2007. In the second quarter of that year, the largest deficit in eight years was recorded. Yet, in mid-2007 department officials were giving the same advice as a year earlier on how much taxes could be cut and spending increased.

Would the troika folk be in the department today if its officials had not been snoozing when the ship of State began veering off the fiscal straight and narrow?



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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:47 pm 
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Quote:
However, because the largest spending departments all recorded sizeable increases, total expenditure rose.

Spending at the Department of Health and Children increased by almost 10 per cent, to reach €3.5 billion.

At the Department of Social and Family Affairs, expenditure increased by almost 20 per cent, to €3.1 billion. The Department of Education and Science registered an increase of almost 11 percent, to €2.1 billion.


Ok, I understand the dole will push up the S&FA bill.

But how can we be serious about "Austerity" if Education is up 11% and Health 10% in one year!

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 12:54 pm 
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Puck may be Famous wrote:
Quote:
However, because the largest spending departments all recorded sizeable increases, total expenditure rose.

Spending at the Department of Health and Children increased by almost 10 per cent, to reach €3.5 billion.

At the Department of Social and Family Affairs, expenditure increased by almost 20 per cent, to €3.1 billion. The Department of Education and Science registered an increase of almost 11 percent, to €2.1 billion.


Ok, I understand the dole will push up the S&FA bill.

But how can we be serious about "Austerity" if Education is up 11% and Health 10% in one year!


Well I am sick of hearing about the knowledge economy - does that count. :)


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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 1:02 pm 
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polaris wrote:
From the accompanying analysis by Dan O’ Brien:

Quote:
http://www.irishtimes.com/newspaper/fin ... ml?via=rel

By the by, one wonders if those involved in drawing up the recent Wright report on the Department of Finance’s performance during the boom ever looked at revenue patterns. The chart shows revenue growth started heading south in the first half of 2007. In the second quarter of that year, the largest deficit in eight years was recorded. Yet, in mid-2007 department officials were giving the same advice as a year earlier on how much taxes could be cut and spending increased.

Would the troika folk be in the department today if its officials had not been snoozing when the ship of State began veering off the fiscal straight and narrow?




Well duh Dan, that's called not spotting the bursting bubble. Like, the central point vis-a-vis our national disaster, and to boot a political matter, not necessarily one for the civil servants. I really don't rate DO'B to be honest.


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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 1:10 pm 
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Cheeky Offer wrote:
Well I am sick of hearing about the knowledge economy - does that count. :)


Quote:
On the Leaving Certificate chemistry syllabus, six mandatory experiments and two experiments to be demonstrated by teachers require some of the substances now being banned.


http://www.irishexaminer.com/ireland/da ... 50367.html


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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 1:16 pm 
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Some thing like this, with appropriate quotes

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... "I find your deficit........disturbing....."

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 1:18 pm 
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and as for
Quote:
the recent Wright report on the Department of Finance’s performance during the boom
that was the biggest whitewash since they decided to repaint all the lighthouses in Ireland.

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 4:04 pm 
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Puck may be Famous wrote:
But how can we be serious about "Austerity" if Education is up 11% and Health 10% in one year!

I can't understand the bump in Education either but do emergency welfare payments not come out of the Health budget?

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 4:07 pm 
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JohnnyTheFox wrote:
Puck may be Famous wrote:
But how can we be serious about "Austerity" if Education is up 11% and Health 10% in one year!

I can't understand the bump in Education either but do emergency welfare payments not come out of the Health budget?

Rent allowance and SWA do, I think?

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 Post subject: Re: EU and IMF officials return as exchequer deficit rises
PostPosted: Tue Apr 05, 2011 4:40 pm 
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Education increases seems to have come about with the reshuffle of department responsibilities, it's now "Education and Skills".

From: http://www.finance.gov.ie/documents/exc ... danlay.pdf

Code:
On foot of the announcment[sic] by the Taoiseach on 23 March, these Departments were re-organised and certain functions transferred. These transfers are Exchequer neutral.

I'm wondering about the pension lump sums, it seems departments can retire people and instantly register savings. Maybe all the costs end up under social protection.


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