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Cowens budget - your predictions

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    Cowens budget - your predictions



    Right time to predict what Brian Cowen has in store for you. Will be higher the threshold of Stamp Duty for FTB's? Tax increases on booze and fags? Increase spending on children allowance / old age pensions? Where will the "stealth" taxes be? And will it be a "giveaway" prior to an election?


    Even though I don't live at home at the moment, I honestly think this is one of THE most important budgets for years. I'd be interested to hear the view from those on the ground.
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    #2


    Give some nice new fangled tax break to common law spouses perhaps!?!?!?

    Comment


      #3
      I don't forsee new incentives for first time buyers. If they were granted demand would stengthen and prices would simply increase. The money would end up in the pockets of builders.

      They will continue to throw money into the bottomless pit that is the NHS. A woefully run, & totally inefficient waste of literally billons annually.

      That and a handy pay rise for TD's.

      It's a big chance to improve peoples lives, but they'll blow it.

      Comment


        #4
        there is talk of €2 on a pack of smokes, but I dont see that happening.<!-
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        Comment


          #5


          Originally posted by Dermot G
          I don't forsee new incentives for first time buyers. If they were granted demand would stengthen and prices would simply increase. The money would end up in the pockets of builders.

          They will continue to throw money into the bottomless pit that is the NHS. A woefully run, &amp; totally inefficient waste of literally billons annually.

          That and a handy pay rise for TD's.

          It's a big chance to improve peoples lives, but they'll blow it.

          You bring up a good point regarding the property market. Can you see stamp duty being abolished?

          Comment


            #6
            No. Why would they do so?

            Comment


              #7
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              //->
              Originally posted by Drick
              there is talk of €2 on a pack of smokes, but I dont see that happening.

              I'd be quite happy if they put €20 extra on a packet.

              It would force people quit and save lives.




              Comment


                #8
                I think there would be inflation issues if the raise the price too much.<!-
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                Comment


                  #9
                  True. Demand for flights to the Canaries would soar too.

                  Comment


                    #10
                    Increasing mortgage interest relief is preferable to cutting Stamp Duty, that would actually help people with their mortgages, I wouldn't like to see the government doing much that could stimulate house prices directly.

                    1c off the top rate and a large widening of the standard rate well beyond inflation would be good.

                    Cowen will come up with loads of goodies for Health etc. that will be like pouring money down the toilet, or buying a newer sports car for a consultant, that's the bad news.

                    Comment


                      #11
                      The rich will get richer and the poor will get poorer. Also the bottom will fall out of housing market. Couple of sops to green issues.Think that covers everything.
                      Excellence is hard to keep quite - Sherrie Coale

                      Comment


                        #12

                        Originally posted by Clon
                        Increasing mortgage interest relief is preferable to cutting Stamp Duty, that would actually help people with their mortgages, I wouldn't like to see the government doing much that could stimulate house prices directly.
                        Increasing mortgage interest relief will stimulate demand indirectly. The result is the same.

                        If people cannot afford houses (in Dublin particularly) they won't buy. Demand will fall, as will prices. Houses are too expensive.

                        Simplistic economics, but sound nonetheless.

                        Comment


                          #13

                          Originally posted by Dermot G
                          Originally posted by Clon
                          Increasing mortgage interest relief is preferable to cutting Stamp Duty, that would actually help people with their mortgages, I wouldn't like to see the government doing much that could stimulate house prices directly.
                          Increasing mortgage interest relief will stimulate demand indirectly. The result is the same.

                          If people cannot afford houses (in Dublin particularly) they won't buy. Demand will fall, as will prices. Houses are too expensive.

                          Simplistic economics, but sound nonetheless.
                          Mortgage relief is less likely to help increase prices then stamp duty relief, although it is a stimulus, it would be more of a genuine help to people than Stamp Duty. If the State and most economists believed that the property market was going to crash then they would have opted for cuting the Stamp Duty.

                          Anyway, their is a a separate thread for whether property will go down or up, all I would say is for the broader economy unit output is as important as whether prices go down a bit or up a bit, even if fewer units are built, which is only to be expected, once output doesn't fall off a cliff quickly is the key for the tax take, jobs etc. Again, it's a topic on it's own really.

                          Comment


                            #14





                            I was fascinated (and deeply depressed) to read last Sunday that Ireland's County Councils between them owe the Banks over €5 billion. If the Government wanted to do something sensible with some of its surplus, thenit should help the Councils to pay off some of this massive debt - otherwise we, the taxpayer/suckers will have to pay not only the interest on this ever-growing debt but also the principal.


                            New infraction avoidance policy: a post may be described as imbecilic, but its author should never be described as an imbecile.

                            Comment


                              #15


                              Originally posted by Dermot G

                              They will continue to throw money into the bottomless pit that is the NHS. A woefully run, &amp; totally inefficient waste of literally billons annually.


                              I was speaking to a Doctor here last week and he was telling me he spent six months in Dublin last year. Mentioned something about getting paid twice every time he signed off a patient - once form the govt and once from the VHI / BUPA. Is that true? He was pretty amazed at the money he was being paid there.
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                              Comment

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