Wednesday 9 December 2009

Irish Budget vs. UK PBR

Our two counties (CU holds both passports) are very linked in the crisis. Ireland is in a slightly worse position than the UK only because it is in the Euro and so does not have a free currency to devalue.

Here is how the Irish are making amends. Swinging cuts to defeat the deficit threat, led by the politicians. Compare to Alistair Darling's tiny efforts of today.

Yet let the truth be known, what the Irish do this year the UK may well be doing next year, post and election.


Bill Quango MP said...

That was worse than my very low expectations. I thought 'Badger' might have showed some more grit.

Darling might as well have said
"To help the country out during this difficult global financial crisis I have written a long letter to Santa"

Budgie said...

I agree that we should be copying the Irish on this. I had previously commented on Raedwald's blog:

"I agree Raedwald, separation of retail and investment banking is a must, for all the reasons you state.

As for Brown, his incompetence is apparently boundless. To cut the nearly overwhelming debt Brown has generated the government needs to copy Ireland: cut state sector pay and pensions - a 10% saving using a tapered cut so that the low paid were least affected would really eat into UK government debt.

We also need to chop useless projects like EU membership, ID & NHS databases, and carbon cap and trade (which is largely the culprit for shutting Tata/Corus plant at Redcar)."

Marchamont Needham said...

Putting party before country as ever.

hatfield girl said...

Interestingly, everyone seems to hold a couple of nationalities and the relevant passports these days.

It comes in handy, even now.

Anonymous said...

Also in Darling's statement were the figures that mark the same beginning of the end that waves farewell all Labour governments:

Low paid, public sector workers get a pay freeze.
National Insurance increased which disproportionately hits people on lower wages.
V.A.T. increases, again disproportionately affecting people on low wages.

The reign of another Labour government is ending, as it always does, with them betraying the very people who voted for them.

David Vance said...

Totally agree. At least the Irish are trying to deal with reality, Darling is in cuckoo land.

Danny said...

I thought Labour governments left the current financially screwed with a massively bloated public sector.

Public sector workers pretty much get paid more than their private sector equivalents across the board and the "freeze" is after a decade of rampant wage inflation.

As for NI, unless your definition of "low-paid" is 20k+ a year then the NI won't affect them and there are no VAT increases.

But hey when did facts ever matter?

CityUnslicker said...

Danny - under £20k a year is low paid.

When people think of the average wage it gets very confusing, students and part-time workers are all lumped in with people who are trying to providfe for families.

if you are 20 and have no outgoings, then 20k is plenty. if you are 40 and have 3 kids, then 320k is very low paid!

Anonymous said...

Does anyone know where the line is regarding willfully destroying the country and treason?

Bill Quango MP said...

Anon: yes. A dividing line.

Laban said...

Listening to Lenihan presenting the Irish budget after Darling - it was like hearing a grown up at last.

I suppose they haven't got an election due.

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