December 8, 2010

Dude, where’s my six billion? Perspective on Budget 2011

This post examines Budget 2011. It goes behind the predictable public anger about “poor paying for the mistakes of the rich” to see what the Budget actually brought in. About one third of the €6bn in savings comes from important income tax reform, but another third comes from one-off windfalls that cannot be replicated. The final third comes from savings in public expenditure, but this is below expectations, more than likely due to the restrictions of the Croke Park Deal. While I am more optimistic now than before about reaching 2015 targets, it is in the area of current expenditure that the toughest work lies ahead. Read more

November 2, 2010

Where should Ireland cut its public spending? Thoughts for Budget 2011 (II)

Two weeks ago, measures were proposed that would raise €6bn in new taxation by 2015. This post follows up by examining Ireland’s public spending. Like two weeks ago, it points out those areas where Ireland sticks out in international comparisons. It focuses on five areas of public expenditure – in particular capital investment and health-care – which if trimmed back to EU averages would save close to €10bn by 2015. Read more

March 2, 2010

Budget 2011 and the eight things on Ireland’s fiscal to-do list

Following Minister Lenihan’s speech last week on the next Budget, this post takes stock of the latest estimates of receipts and expenditure and puts the progress so far in reducing the budget deficit in a ten-year perspective. It then outlines eight things that need to happen over the coming five years, in order to get the deficit back down under 4%. Read more

budget 2011

Dude, where’s my six billion? Perspective on Budget 2011

Where should Ireland cut its public spending? Thoughts for Budget 2011 (II)

Budget 2011 and the eight things on Ireland’s fiscal to-do list