Ireland unveils bailout plan (many public sector, welfare cuts)

[alp227]

Source: The Guardian

The Irish government has unveiled a tough four-year austerity plan that envisages deep spending cuts and tax increases to help pay for its banking crisis and meet the terms of an international rescue deal.

The plan includes tens of thousands of public sector job cuts, phased increases in the VAT rate from 2013 and social welfare savings of €2.8bn (£2.37bn) by 2014. But there will be no change to Ireland's low corporate tax rate.

It also retains assumptions about economic growth unveiled earlier this month that many economists believe are too optimistic.

Ireland's 140-page National Recovery Plan proposes to introduce property and water taxes, raise sales tax from 21% to 22% in 2013 and up to 23% in 2014.

Read more: http://www.guardian.co.uk/business/2010/nov/24/ireland-bailout-plan-unveiled

[PSPS]

1. "But there will be no change to Ireland's low corporate tax rate."

The plan includes tens of thousands of public sector job cuts, phased increases in the VAT rate from 2013 and social welfare savings of €2.8bn (£2.37bn) by 2014. But there will be no change to Ireland's low corporate tax rate.

We welcome Ireland to the new One Plutocratic World Order.

[XemaSab]

2. Rec for the sheer fail on display

x(

[CountAllVotes]

3. details can be listened to here live:

http://www.rte.ie/news/player_newsnow.html


More here:

The overall aim is to return the tax system to 2006 levels by 2014. The point at which people enter the tax net will fall by €3,000 to €15,300 a year by 2014.

One of the main measures is a phased reduction in the tax relief on pensions for those on the higher rate of tax. This will be reduced by 2014 to relief at the standard rate of 20%.

The minimum wage is to be reduced by €1 an hour to €7.65 an hour, while a review of registered employment agreements will also take place. The standard rate of VAT is to rise from 21% to 22% in 2013, and to 23% in 2014.

Cuts in social welfare and public service

Spending on social welfare is to be reduced by 14% over the four-year period, with cuts of around 5% next year, though the details are being left until Budget day.

http://www.rte.ie/news/2010/1124/budget-business.html


:dem:

[immoderate]

5. How does reducing the minimum wage help?

Answer: It doesn't, but fuck 'em.


--imm

[CountAllVotes]

6. 4% of the population earn minimum wage

After it is "adjusted" it will = $10.40 an hour which is still a lot more than what you earn in the USA.

This will not solve the problem that is for certain.

You'll note that they don't raise any tax on corporations.

Same sh*t different place eh?

:kick:

[immoderate]

11. Reminds me of quip by a boss I had...

After work, the maintenance guys were bringing in the floor polishers. The boss said, "They're going to buff the dirt."

Then he said, "They don't clean; they just buff the dirt."

It was the only smart thing I ever heard him say.

--imm

[Bragi]

4. The global rollover continues apace

If there is any remaining doubt in anyone's mind, I would like to assure one and all that the other side has won. Totally. It's all over. Head for the hills.

[Dr.Phool]

7. I don't think the Irish people will take this lying down.

Everybody gets fucked except the banks and corporations.

[Starry Messenger]

8. Total insanity.

Nothing about taxing the rich. Everything punishes the people who had no hand in the mess. I hope they resist, massively.

[CountAllVotes]

9. Cowen's predecessor is hard at work (Ahern has a job!)

Fine Gael leader Enda Kenny has said he does not think that former Taoiseach Bertie Ahern is engaging in 'conduct that is becoming' by appearing in a kitchen cabinet for a TV advert.

In the Dáil, Mr Kenny asked Taoiseach Brian Cowen if Mr Ahern consulted with him before he took part in the advert for the Irish News of the World.

Mr Kenny said Mr Ahern had been given an honour in being elected three times as Taoiseach and was still in receipt of public monies.

The Fine Gael leader said Mr Ahern was now publicising his career as a sports pundit.

http://www.rte.ie/news/2010/1020/ahernb.html

Now how is this for sickening? :mad:

:dem:

[Starry Messenger]

10. I feel like the whole world has gone mad.

How can they face the public with this enormous slap in the face?

[CountAllVotes]

13. Is Ahern being cut off?

Ahern is still in receipt of public monies ...

They should cut this criminal off and give Cowen the boot ASAP! :mad:

[CountAllVotes]

14. n/t

n/t

[gratuitous]

12. So the banksters had big party and now they're in deep trouble financially

Who better to pay for it than the proles? And look smart about it, because the end of the year is coming, and a lot of swells in suits are going to be needing their annual bonuses. Does your hovel really need all four of those walls? And does the roof have to cover every square meter of the interior? Can't you just sort of, you know, huddle together in one place?