Accesstalk pdf

3,728 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
3,728
On SlideShare
0
From Embeds
0
Number of Embeds
3,033
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Accesstalk pdf

  1. 1. OUR HIDDEN BUDGET. Stephen Kinsella University of Limerick
  2. 2. TODAY.
  3. 3. BUDGET BASICS1.Why do we need budgets anyway?2.Why is the government doing this?3.What’s the future looking like?
  4. 4. WHY DO WE NEED BUDGETS?Budgets help us plan.Governments have to plan to provide services like healthcare,education, social protection, justice, agricultureGovernments ‘make’ their money from different types of taxes.These plans are educated guesses.
  5. 5. 0 28 55 83 11019 9519 9619 9719 9819 Revenue 9920 0020 0120 0220 Expenditure (with banks) 0320 Expenditure (without banks) 0420 0520 0620 0720 0820 0920 1020 1120 1220 1320 1420 1520 16
  6. 6. BORROWING• Government Revenue - Taxes = Public Borrowing.
  7. 7. Composition of national debt, €million at end of 2012 National Debt (€m)Government Bonds                         87,853EU/IMF Programme Funding 55,898Other Medium and Long-Term 773DebtState Savings Schemes 13,478Short-Term Debt 3,480Cash and other Financial Assets -23,850
  8. 8. -20,000 -15,000 -10,000 -5,000 0 5,00020 02 Q120 02 Q420 03 Q320 04 Q220 05 Q120 05 Q420 06 Q320 07 Q220 08 Q120 08 Q420 09 Q320 10 Q220 11 Q120 11 Q420 12 Q3 Government borrowing €m
  9. 9. SO WHAT?• Government has to reduce borrowing by spending less, and earning more.• This means your taxes will go up, and some services will be cut.• EG: PRSI went up in the last budget, Child Benefit was cut.
  10. 10. QUESTION:• Should everyone with a child get the same child benefit?
  11. 11. COMING DOWN THE LINE• Property taxes. Why?• Water taxes. Why?• Carbon taxes. Why?
  12. 12. QUESTION• From the point of view of the homeowner, would you rather pay stamp duty or a property tax?• From the point of view of the government, would you rather receive payment in stamp duty or in the property tax?
  13. 13. INFLATION
  14. 14. INFLATION Inflation erodespurchasing power. Think of apples.
  15. 15. VALUE ADDED TAXES• What’sthe point of them? They capture different consumption behaviours
  16. 16. SUMMARY• Taxation systems works to redistribute. Sometimes changing this is painful, sometimes not.• Big Q: Tax breaks to change Limerick’s Georgian Core?

×