Budget 2014:
Finfacts Taxfacts 2014: Summary of Personal &
Business Taxes
Budget Publications
Presentations & Infographics
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At the end of September, there were
414,000 on the Live Register and 86,000 in publicly funded back-to-work schemes
- - the latter number is likely to rise in coming years.
So, be aware that a drop in the
numbers on the Live Register does not mean that reports of rising employment
does not mean that all jobs were sustainable.
So at the end of September,
there were 500,000 receiving unemployment related payments from the State.
In the June Quarterly National Household Survey,
there were 149,000 part-time workers who wish to have full-time work, up from
4,000 in 2007 [pdf].
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Ireland's budget for 2014 will
be delivered on October 15, two months early this year to meet a
European Commission requirement.
As the end of the international
bailout draws near, the bravado of last year about reclaiming our
independence, has given way to a more muted mode with concern now about
arranging a safety net.
If that arrangement is done
under the European Central Bank's bond-buying program called Outright
Monetary Transactions (OMT), it would be another bailout with the
involvement of the International Monetary Fund.
The OMT program had its genesis
in the July 2012 commitment from Mario Draghi, ECB president, to do
"whatever its takes" to save the euro.
The Irish economy remains in a
fragile state: the economy contracted in the first quarter of 2013, having
shrunk in 2012 [GDP (gross domestic product) grew by 0.2% in 2012 and then
only because of fake services exports related to tax strategies]; in June,
the IMF put the broad rate of unemployment at 24% and claims by ministers of
20,000 jobs added in the economy in the 12 months to March 2013, cannot be taken
at face value.
There is no credible jobs
strategy to provide a net 200,000 jobs in coming years and the flagship
enterprise policy - - commercialising university research, is on a
respirator.
The rescheduling of promissory
note debt mainly related to support for Anglo Irish Bank has improved the
short term finances situation but legacy bank debt support is unlikely to be
refunded by the European Stability Mechanism (ESM), the euro rescue fund.
Contrary to
what many want to believe, about half of the €64bn in State support for
banks, was a bailout of depositors in Anglo -- it had mainly relied on
high-interest deposits for funding, not bond sales.
On the fiscal adjustment
for 2014, we have witnessed in recent months The Dance of the Seven Veils.
Eamon Gilmore, Labour Party
leader and tánaiste (deputy prime minister) has rejected the proposal
from the bailout troika of €3.1bn in spending cuts and tax rises, saying
that he regarded the crucial target as being a percentage of gross domestic
product (GDP) rather than a particular sum of money.
Gilmore said in July: “The target is expressed as a percentage of GDP and
that target for 2014 is 5.1%. We have met all of the targets that have been
set.”
The former
communist who his now trying to protect political erosion on his left flank,
told The Irish Times that the dividend from the promissory note agreement
deal amounted to around €1bn a year and that would provide some scope for
flexibility in the next budget.
“I believe we are entitled to
use that dividend in our budget calculations," he said. "How we do so is a
matter for negotiation between the government parties.”
Beyond the political dance,
Michael Noonan, finance minister, has took direct control of the €6.4bn rump
of the public pensions fund and on Budget Day will have some headline-making
initiatives on new programs that will be rolled out in advance of the next
general election in 2016.
Irish Budget 2014: Half of Ireland's population on welfare
BUDGET & ECONOMIC STATISTICS 2012 [pdf; new window]
CENTRAL BANK: IRISH ECONOMIC STATISTICS 2012 [pdf; new window]
CENTRAL BANK' S FINANCIAL STATISTICS CHART PACK 2013 [pdf]
STATISTICAL YEARBOOK IRELAND 2012
March 2004 - June 2013
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Irish
Budget 2014: Eve of Budget Day official leaks detail main measures |
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Irish
Budget 2014: Nation to be "astounded" by job creation and pension measures |
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Irish
Economy 2013: Minister says Irish banks “well capitalised” |
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Irish Budget 2014: Department of Finance expects no GDP growth in 2013 |
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Irish Budget 2014: Noonan agrees to Labour Party demands on deficit |
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Irish Economy 2013: ESRI says GNP could rise by 2.7% in 2014 |
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Irish Budget 2014: Ireland "a terrible place to be an
entrepreneur"? |
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Irish Budget 2014: Department of Finance claims drugs patent cliff cut annual
GDP growth by 1% |
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Innovation: Irish R&D tax credit change in Budget 2014; OECD says help young
firms |
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Irish new car sales rose 17% in month of September; Down 7% year to date |
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HSBC Bank says Irish goods exports to grow strongly in 2016-2030 but analysis is
wrong |
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Irish Economy 2013: Consumer prices rise by 0.2% in year to September |
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Sentiment improves among accountants in Irish business firms |
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Irish Budget 2014: Exchequer deficit falls to €7.1bn in Q3 2013 with
no Anglo note payment |
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Irish Economy 2013: 500,000 on Live
Register and in activation programs in September |
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US
company profits per Irish employee at $970,000; Tax paid in Ireland at $25,000 |
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Irish Budget 2014: Half of Ireland's population on welfare |
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Irish
Economy 2013: Government's net liabilities rise by €135bn since 2007 |
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Irish
Economy 2013: Central Bank expects weak growth this year |
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Irish
Economy 2013: Return to growth in Q2 with help of tax-related services exports |
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Irish
House Prices: Asking prices in Dublin rise; Fall elsewhere |
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Irish
mortgages worth over €9bn in arrears 2 years or more |
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Irish
Economy 2013: Volume of retail sales fell by 1.6% in August 2013 |
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Irish
Stock Exchange: Born in 1793 - slowly dying in 2013 |
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Irish
Economy 2013: OECD says more must be done to boost growth and create jobs
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Minister says myth of 'world class' Irish education,
a delusion |
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Irish Economy 2013: Budget deficit at €7.3bn year
to-date in August |
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Irish Budget 2014: Business pay boom time commercial
rates |
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Ulster Bank chief says 35% customers in arrears not
making any payments |
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Irish Economy 2013: Farming/ tourism lead employment gains in 12 months to June |
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Why
should Europe expect ever rising standards of living?
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Irish Budget 2014: ESRI says Ireland's top income tax rate applies
at low level of income |
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Anglo Irish Bank: Outrage from top debtor of western world |
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Irish Economy: No jobs engine but €6.4bn to plug the dyke |
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Apple, taxes, Irish economy and creating 200,000 net jobs |
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Ireland's Actual Individual Consumption per capita below EU average
in 2012 |
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Irish Economy 2013: Number of early-stage entrepreneurs in Ireland
is low and falling |
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Irish Economy: ESRI scenario of stagnation likelier than recovery |
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Burton pushes EU Youth Guarantee; Irish
apprenticeship system a shambles |
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Irish Economy: Bruton's latest aspiration - - 20,000
net new manufacturing jobs by 2016 |
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Irish Economy 2013: Jobs in export sectors 20,000 below year 2000
level |
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Irish Economy 2013: 486,00 people on Live Register and in activation
programs in July |
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Irish Economy: Action Plan for Jobs 2016 target dependent on fake
jobs |
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Irish Economy 2013: Only growth in Ireland is in freelance 'jobs' |
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Irish Innovation: Evidence of science policy failure mounts |
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Eurozone returns to growth after recession; No ‘crisis is over’
parties |
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The credit crunch hits the headlines six years later |
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Irish mortgage lending in Q2 2013 remained at 40-year low |
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Ireland's double-dip recession hides encouraging trends - - Davy report |
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Irish Economy 2013: Goods exports up 2.3% in second quarter |
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OECD says growth set to pick up in Europe, US, Japan; Slow in big
emerging economies |
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Microsoft tops Irish exporters' fantasy league; 37% rise in 2012 |
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Burton pushes EU Youth Guarantee; Irish apprenticeship system a
shambles |
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Irish Economy: Sustainable growth dependent on foreign firms
since 1990; Now FDI has peaked |
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Irish Economy 2012: At least a third of value of Irish services
exports is overstated |
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Irish
Economy: Debt sales with interest rates at lowest levels since Babylonian Empire |
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Irish Budget 2013: Budget Day as floundering
government banks on hope |
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Irish
Budget 2013: Cost of servicing public debt moving towards 20% of tax revenues |
