The government is committed to raising almost €5 billion in additional taxes over the next four years and it is becoming increasingly clear where they intend to get it, according to The Sunday Business Post. The headings below outline the grim scenario we face:
New government: same practices. In case there was any doubt about the retention of the back of an envelope as the favoured calculating tool of politicians and the Department of Finance, the latest working paper by the Economic and Social Research Institute (ESRI) should allay the fears of those Luddites who shun change.
People who cannot service their mortgage could declare insolvency and be released from bankruptcy – including their mortgage deficits – within three years under new government proposals, according to the main story in The Sunday Business Post.
A €1.9 billion deficit in the Social Insurance Fund must be addressed in the Budget, leading to increased speculation PRSI might be extended to include unearned income such as rent, dividends and shares, according to The Sunday Business Post.
Now the dust has settled on the presidential election jamboree, the media is beginning to turn its attention from the circus to the bread with increased coverage on what is likely to befall us in the upcoming Budget.