Welfare cuts of 2.8 billion euros ($3.8 billion) and income tax increases of 1.9 billion euros are among the steps planned to narrow the budget deficit to 3 percent of gross domestic product by the end of 2014. The shortfall will be 12 percent of GDP this year, or 32 percent including a banking rescue.....
It will raise sales tax for consumers to 23 percent in 2014 from 21 percent and reduce tax breaks for pension payments. A property levy, called a site tax, will be introduced.
http://www.bloomberg.com/news/2010-11-24/ireland-plans-to-reduce-spending-20-raise-taxes-as-rescue-talks-climax.html~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The plan includes thousands of public sector job cuts, phased-in increases in Ireland's value-added tax (VAT) rate from 2013 and social welfare savings of 2.8 billion euros by 2014, but does not touch the country's ultra-low corporate tax rate.
http://www.cnbc.com/id/40346288~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Banks: Crushing Europe's Social Contract country by country. Welcome to the Neo-Feudal State.
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