Sep 3, 2013

Budget 2014 On the Way

Irish people have had 3 years of Austerity Budgets - with cuts in welfare, increases in taxation and loss of public services.  The 2014 Budget is going to be the last one under the EU/IMF bailout program - and we can expect more of the same stuff.  It is expected that another €3.1 billion will be found by making more cuts in spending, more cuts in welfare and more increases to taxation.

In previous budgets - pensioners have been protected from cuts to the state pension - whilst childbenefit has been cut along with most other welfare payments.  With negative inflation in recent years - it could be argued that the state pension is due to be cut - but will the government be able to cope with a pensioner backlash?

The Budget date is Oct 15th this year instead of December - this is to fit in with EU timetables. The leaks and  rumours will be flying about all over the place in September as the politicians try to scaremonger the population.  By "leaking" false cuts or tax increases - the ploy is to get the general public to feel relieved when they find out the reality is a smaller cut or tax increase. It happens every year.

Later in 2014 we will have the new water charges in Ireland - which could average out at €300 to €400 a house. On top of the property tax - this coul be the final straw for many people. Emigration might become more popular.

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