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02-11-2010, 04:08 PM
Tasc have come out in favour of Sinn Fein Pre - Budget proposals:-
Michael Taft: With the political consensus obsessed with a €15 billion deflationary juggernaut, it’s a relief that one party gets it. Sinn Fein’s pre-budget submission argues for a major stimulus programme combined with a growth-friendly consolidation package that, taken together, would increase growth and job creation. This would put deficit-reduction on a sustainable path, unlike the calls for contraction which could land the economy in what the ESRI calls a ‘deflationary cycle’.
He goes on to state:-
Let’s summarise: Sinn Fein aims to raise €4 billion in tax revenue through a range of reforming tax expenditures (pension contributions, mortgage interest for landlords, legacy property tax reliefs), increased capital taxes and, crucially a new wealth tax, etc.).
They are further seeking public spending savings of €1.2 billion. The biggest categories are capping public sector pay at €100,000, reduce professional fees, and charging private patients the full economic rate in public hospitals.
The main thrust of their submission, however, is the proposals for stimulus. In their main plank, they are seeking a €7 billion ‘employment/infrastructure’ stimulus over the next 3-5 years with €2 billion in 2011; all to be funded from National Pension Reserve Fund (NPRF). They are seeking to create 160,000 jobs. This is just a sample from their ambitious programme:
More Here:-
http://www.progressive-economy.ie/2010/11/at-least-one-party-gets-it.html
Sinn Feinn pre budget proposals here:-
http://www.sinnfein.ie/files/Pre-Budget2010_web.pdf
Michael Taft: With the political consensus obsessed with a €15 billion deflationary juggernaut, it’s a relief that one party gets it. Sinn Fein’s pre-budget submission argues for a major stimulus programme combined with a growth-friendly consolidation package that, taken together, would increase growth and job creation. This would put deficit-reduction on a sustainable path, unlike the calls for contraction which could land the economy in what the ESRI calls a ‘deflationary cycle’.
He goes on to state:-
Let’s summarise: Sinn Fein aims to raise €4 billion in tax revenue through a range of reforming tax expenditures (pension contributions, mortgage interest for landlords, legacy property tax reliefs), increased capital taxes and, crucially a new wealth tax, etc.).
They are further seeking public spending savings of €1.2 billion. The biggest categories are capping public sector pay at €100,000, reduce professional fees, and charging private patients the full economic rate in public hospitals.
The main thrust of their submission, however, is the proposals for stimulus. In their main plank, they are seeking a €7 billion ‘employment/infrastructure’ stimulus over the next 3-5 years with €2 billion in 2011; all to be funded from National Pension Reserve Fund (NPRF). They are seeking to create 160,000 jobs. This is just a sample from their ambitious programme:
More Here:-
http://www.progressive-economy.ie/2010/11/at-least-one-party-gets-it.html
Sinn Feinn pre budget proposals here:-
http://www.sinnfein.ie/files/Pre-Budget2010_web.pdf