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IBEC chief economist Fergal O'Brien says Budget 2014 could drop all of its new taxes and still bring Ireland within its deficit targets. Mark Stedman/Photocall Ireland

'Time to ease off on austerity and abandon planned tax hikes' - IBEC

IBEC says Ireland could drop the ‘new taxes’ planned for Budget 2014 and still meet the EU’s targets.

THE BODY REPRESENTING Ireland’s employers has called on the Government to abandon plans for €1.8 billion in new taxes over the next two Budgets – saying extra taxes would kill off Ireland’s delicate economic rebound.

The Irish Business and Employers’ Confederation (IBEC) says economic data for the first quarter of 2013 shows that consumer confidence remains fragile, with economic growth weaker than expected.

Its latest quarterly economic outlook (PDF), released this morning, says this weak growth could be killed off by levying further taxes and charges on consumers who still remain fearful about their finances in the medium term.

The group says the Irish economy will grow by 1.8 per cent this year – a significantly higher rate than projected by either the European Commission or the Irish Government – but that economies of other European countries could falter and drag us down.

“We need to press ahead with reducing public sector expenditure, but taking more money out of the economy through tax hikes is the wrong way to go,” said IBEC chief economist Fergal O’Brien.

“Fixing the public finances can only bring us so far – consumers need to see that the end is in sight before they will start spending again.”

O’Brien said the public had welcomed deals on the promissory notes, but that the public now needed to reap some of the benefits by having the burden of austerity lifted somewhat.

“The budgetary adjustment should be less than the €3.1 billion currently targeted,” he said.

“We now have the potential to abandon the planned tax increases and still hit a budget deficit of about 4.5 per cent, well below the target of 5.1 per cent.”

O’Brien said an adjustment of that scale would underline that Ireland remained committed to restoring order to its public finances, while limiting the damage that cuts could achieve.

A further €2 billion of adjustments is scheduled for Budget 2015, in order to conclusively bring Ireland within the 3 per cent debt limit set down by the EU’s excessive deficit programme and the EU-IMF bailout agreement.

Budget 2014 is to include €2 billion in spending cuts and €1.1 billion in new tax, while Budget 2015 is to have a further €700 million in tax increases.

Read: Brussels report says Irish economy will grow slightly less than govt forecast

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46 Comments
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    Mute
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    Oct 28th 2023, 8:03 AM

    There can’t be much of Gaza left at this stage

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    Mute Sam Walsh
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    Oct 28th 2023, 11:34 AM

    @: Blame Hamas. They just use innocent Palestinians as a way of advancing their ideological motives without any concern for people’s lives. They knew the response from Israel would bring hell on Palestine! How do you expect a nation to act if state sponsored terrorists want to destroy them!?

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    Mute kerrill thornhill
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    Oct 28th 2023, 12:47 PM

    @Sam Walsh: Britain managed not to carpet bomb Ireland whenever the IRA carried out an atrocity – because only a psycopath would justify genocide in response to a terrorist attack. The destroying is being carried out by the country that is illegally occupying Palestine, carpet bombing civilians with weapons & propaganda supplied by the EU/US.

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    Mute kerrill thornhill
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    Oct 28th 2023, 2:27 PM

    I can show you multiple article of IDF raping Palestinian prisoners, show me what your claim is based on. Mainstream media have published a trove of unsubstantiated claims to justify carpet bombing civilians – there us no excuse for carpet bombing civilians

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    Mute Rochie1508
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    Oct 28th 2023, 2:51 PM
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    Mute Rochie1508
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    Oct 28th 2023, 3:09 PM

    Oh you’re right, let’s just slaughter them all so! What a pathetic attempt to use the LGBTQ+ community to justify genocide.

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    Mute Rochie1508
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    Oct 28th 2023, 3:19 PM

    Your question is absolutely irrelevant to the situation and is a very bad attempt at dehumanising the Palestinian people, a page right out of the Israeli playbook. Have a read of the below, you might educate yourself but I doubt it.
    https://www.palestine-studies.org/en/node/232088

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    Oct 28th 2023, 3:25 PM
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    Mute Rochie1508
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    Oct 28th 2023, 3:33 PM

    Ok convince me. You say it’s a load of leftist nonsense, so show me the evidence to prove it. You made a statement, I disagreed and showed evidence to back up my point. Now it’s your turn. Convince me.

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    Mute F Fitzgerald
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    Oct 28th 2023, 3:36 PM

    @kerrill thornhill: Clearly you’ve never even heard of the Belfast Blitz of WWII. Try looking it up on Wikipedia.
    When half of Belfast was being evacuated and flattened by the Luftwaffe, city defenders were afraid to fire on the bombers lest they hit the RAF – who had apparently taken that weekend off and never turned up.
    Unlike the Irish Fire Brigade who crossed the border to help people.

    Ireland is a neutral country. Try to remember that.

    5
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    Mute Rochie1508
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    Oct 28th 2023, 3:55 PM

    Yes there are hate crimes against the LGBTQ+ community in Palestine, just as there are in Israel and many other countries.
    https://m.jpost.com/israel-news/article-734812
    Yes there are morality police deployed by hamas, as there are groups in Israel that do the same:
    https://dbpedia.org/page/Mishmeret_tzniyut
    More lefty nonsense?

    5
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    Mute Sam Walsh
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    Oct 28th 2023, 5:02 PM

    @kerrill thornhill: You’re telling me the reason Israel is bombing Palestine is because of “Propaganda supplied from the US/EU”?! And not because Hamas just slaughtered the most Jews since the holocaust in one of the greatest terrorist attacks ever, including Irish citizens. I love your great comparison of Hamas and the IRA (provos), perhaps the reason why Ireland wasn’t carpet bombed was because the IRA didn’t live in such a densely populated area and also the IRA didn’t purposely use human shields. The hypocrisy from pro-Palestinians is hilarious, they expect Israel, the only democracy in the Middle East to be destroyed even though it’s ancient Jewish land and Jews have always been persecuted, Israel is tiny sliver of land in the Middle East. Islamist terrorism sympathisers are a plague.

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    Mute Rochie1508
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    Oct 28th 2023, 5:10 PM
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    Mute Sam Walsh
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    Oct 28th 2023, 6:01 PM

    @Rochie1508: I didn’t think we were discussing these topics. Also if you want to converse with me, don’t send a link in which I cannot copy nor paste.

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    Mute Rochie1508
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    Oct 28th 2023, 7:23 PM

    @Sam Walsh: That’s how arguments work, I make a statement and back it up with examples and then you do the same! Your old imperialist argument of Jews being entitled to the land is tired and jaded and shows your true colours. Even the Orthodox population of Israel can’t stand the zionists.
    https://youtube.com/shorts/V6qS3B7onec?si=Y2M-O9BQUjWrPMyv
    The world is slowly but surely waking up to the aggressive hate speech and ott outrage spouted by Israeli officials. The unwarranted attack on Antony Guterres was especially heinous and uncalled for.

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    Mute kerrill thornhill
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    Oct 28th 2023, 8:09 PM

    You coming accross as quite the nut job. I have worked with dozens of Palestinians and Muslims, many of them are gay – they are no different than us. The idea of you playing this card to justify genocide is quite insane. Did you know homesexuality was illegal in ireland until 1993? Would a sane person have used this as an excuse for Britain to carpet bomb Dublin during the troubles…. your morality is perverse!

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    Mute Sam Walsh
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    Oct 28th 2023, 8:20 PM

    @Rochie1508: The entirety of the Middle East equates to an area of over 5 millions square miles, the area of Israel is just over 8 thousand square miles. It so happens to be that those 8 thousand square metres represents the most democratic and least barbaric society in the Middle East. You say Israel is an imperialist state, if that’s the case then isn’t every state imperialist as there has always been transfer of land through means of conflict etc. It is totally accurate to say current day Israel used to be Jewish land, the kingdom of Israel and Kingdom of Judah go back to 2,000 BCE, and this isn’t just document through secondary sources, but also archeological evidence. I’m not going to pretend that Israel is perfect, Palestinians have had a rough time, but Israel aren’t the baddies.

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    Mute Rochie1508
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    Oct 28th 2023, 8:37 PM

    @Sam Walsh: Your lies are absolutely laughable. Israel not barbaric? Please.
    https://www.dawn.com/news/1782010
    https://en.m.wikipedia.org/wiki/Allegations_of_war_crimes_against_Israel
    You are absolutely correct, it USED to be the land of Judea, 2000 years ago. Over the centuries Islam spread to the area but up to the early 20th century Jews and Muslims lived happily together, granted under Ottoman rule. Imagine someone came to your home, told you this was my ancestors house 2000 years ago you need to get out. Then the police arrive and forcibly remove you and if you fight back you get shot. Does that sound fair? Of course not! Your logic is twisted beyond belief!

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    Mute Allo Allo
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    Oct 28th 2023, 8:47 AM

    Leave it to Israel to be one of the few nations capable of even greater atrocities than October 7th, they have shown the world they are worse than Hamas. They will never have peace.

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    Mute kerrill thornhill
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    Oct 28th 2023, 9:29 AM

    Back in the real world, 3000 Palestinian children were killed by carpet bombing a concentration camp, over 9000 civilians. Your still spouting the lie that Hamas beheaded kids & other atrocity porn that has been amplified relentlessly to dehumanise Palestinians and justify genocide. Here you are justifying a real live genocide, while insisting Palestinians/Hamas are the savages – do you work for punch magazine?

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    Mute John Smith
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    Oct 28th 2023, 9:39 AM

    @Allo Allo: Israel exaggerated the 7th of October Israeli deaths, the true death toll is closer to 700 than 1400 and about half of the Israeli deaths were soldiers and police, the IDF killed more of their own people than Hamas, Israel has a procedure to stop soldiers being captured, search for “the Hannibal Directive”.
    Hamas are no angels and they murdered Israeli civilians on the day but they aren’t ISIS.
    But most importantly, the people of Gaza are not Hamas.

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    Mute Rochie1508
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    Oct 28th 2023, 11:11 AM

    @Allo Allo: So far they’ve killed more UN staff than Hamas commanders.

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    Mute Martin Mongan
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    Oct 28th 2023, 12:52 PM

    @: the fact you think Palestine/Isreal is right wing/left wing says more about your intelligence to be honest

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    Mute kerrill thornhill
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    Oct 28th 2023, 12:53 PM

    You should read a book called ‘the great delusion’ by John Mearsheimer, the Liberal left as you call it are the main backers of zionism and ‘liberal hegemony’. As someone who works with dozens of Arabs/ Muslims (even gay ones!!!) from multiple countries – your description above is based on your own hatred and racism, not reality. No one ever chants push Jews to the sea, this is a racist trope – they chant Palestine will be free. If you’re worried about hostages, what’s your opinion on the >5000 Palestinians detained without trial?

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    Mute Pato
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    Oct 28th 2023, 9:37 AM

    A dating coach, what next, a divorce coach?

    49
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    Mute mainmsam
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    Oct 28th 2023, 9:52 AM

    @Pato: they are around already in the states

    17
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    Mute Mark Carolan
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    Oct 28th 2023, 10:06 AM

    @Pato: those people who can’t find someone, who struggle for the self confidence, the self belief to be able to find themselves a relationship.. should they just give up.. or can someone help.

    We all need help in different ways. I know someone who used a dating coach and it changed their life.

    Years ago we would have been skeptical of online dating..

    Everyone deserves a chance at having someone.

    And why not a divorce coach. It’s a lot to go through. Some people never recover and never find their way back into their life

    64
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    Mute kerrill thornhill
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    Oct 28th 2023, 10:24 AM

    Take a good close look at what’s happening to innocent Palestinians. You won’t read this in the IDF press releases that pass for journalism: https://twitter.com/PalBint/status/1717953561194078517?t=MykBvZRIY5hsalmFoh3tdQ&s=19

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    Mute kerrill thornhill
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    Oct 28th 2023, 10:26 AM

    @kerrill thornhill: I could post hundreds of these awful images – if the people being killed were ‘like us’ I would not have to, because they would be plastered all over the front page of every news paper. https://twitter.com/Sprinter99800/status/1718146305946439930?t=iLGgH_7H_6SDTbiqVemEcQ&s=19

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    Mute kerrill thornhill
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    Oct 28th 2023, 10:42 AM
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    Mute kerrill thornhill
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    Oct 28th 2023, 8:13 PM

    Do you have children, if they died would you consider them ‘collataral damage’? You are using dehumanising psychopathic language. Israel is almost exclusively targeting and killing civilians, yet perversely insisting on the moral high ground – you’ve completely lost your mind, as have most of our journalists by silent accepting the massacre of children. Complete inhumane insanity

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    Mute Kevin O'Brien
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    Oct 28th 2023, 12:53 PM

    The irony is incredible, to me, but probably not for the author.

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    Mute Paul Moloney
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    Oct 28th 2023, 11:49 AM

    Then you should probably not use or listen to this load of bollix ie the journal

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    Mute Paul Moloney
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    Oct 28th 2023, 7:30 PM

    No name blow me u bollix of thing

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    Mute Paul Moloney
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    Oct 28th 2023, 9:12 PM

    @Paul Moloney: no name no answer no balls no brains

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    Mute Jackie McGloughlin
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    Oct 28th 2023, 9:28 PM

    Important points for everyone and especially for those with this specific experience. Thanks for a well-written, well-researched article, Jeanne!

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