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A €150 MILLION shortfall in the cash raised from water charges means that the next Government is likely to hike prices again, according to ESRI researcher Professor John Fitzgerald.
Speaking on RTE’s Morning Ireland programme, Fitzgerald said that the Government’s target of €500 million in revenue from water charges is likely to be missed, with €150 million a more realistic figure.
“That leaves a problem for the next Government, they will have to raise water charges further.”
He said that on-target revenue from water charges could have given the Government “a bit more room for manoeuvre” in the budget for next year.
€2 billion call
Fitzgerald said that at the moment, the Government should be planning to implement the full €2 billion adjustment package in the October budget, contrary to calls to reduce the austerity package to around €1 billion.
He said: “It’s too early to talk about an end to cuts.”
Fitzgerald argued that if the economy continues its current upward trajectory, the Government may be able to face Budget 2016 without the prospect of further cuts or tax increases.
Read: €2 billion budget cuts can be avoided* says ESRI
Fitzgerald’s comments mark a downturn in optimism from the think-tank, which said in April that the country could avoid €2 billion in cuts this year if the economy continues to grow.
He didn’t rule out a gentler budget than in previous years, but said that at the moment the Government should not plan for anything less than the €2 billion.
He said that the Government’s policies had been designed to reverse the dramatic rise in unemployment figures, creating over 100,000 jobs and improving the economic situation of the unemployed.
“But, for the rest of us, we’re paying water charges, we’re paying property tax, and really it’s going to be 2016 before the bulk of the population will feel better off.”
It’s a year too early. We knew we had a long hard road to travel, we’re almost there. People talk about light at the end of the tunnel, well the light is still some distance away.
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That’s only the tip of the iceberg, it’s going on wholesale
Proof?
Really? As if proof of wholesale international fraud is going to end up on the comments section of the journal. It will be hiding between Enda bashing and comments that viscount biscuits have notions.
I would love a viscount biscuit right now.
Mint or orange?
Orange only people with severe mental difficulties like mint.
Lindsay, we have come to a serious impasse
Viscount biscuits have notions? Of what?
Happens very second of everyday around the world markets. Tip offs and press releases or “leaked” internal documents escape to the “public domain” or information is stolen or bought. Only different here is the wrong group of manipulating smart people made money from manipulating smart people how are in charge and there not happy about it.
totally agree and a point to note that the Rothschild’s made their fortunes by hearing about news on the continent before everyone else using carrier pigeon and traded on the exchange in advance of the news… nobody knew their secret but it was that simple… information is power all right. hope they make money out of it again somehow..fair play to em…
wish I was that smart. ..to beat banks and financial institutions at their own game
I am that smart, but I choosd not to do it.
oh i soo wish I was as good as you
Everyone does Marc.
You choo choo choo choosd not to spell. .. chief wiggum would be proud.
Where’s Meeks with that Orange Crop Report!
I wish I had ideas like this.
Wow normally all the crime I do is pissing in public and stealing chewing gum.
Do you peel it off the floor when you’re down there?!!
Yes.
Then it’s not stealing, you’re not so bad after all!
Read ‘Flash Boys’ by Ben Mezrich.
It’s written by Michael Lewis….. But yes- do check it out.
The censors are out in force tonight. What the F?
Flash Boys – A salutary lesson for any wannabe Wall St. Wolves out there. The game is rigged and the organizers are doing the rigging. A mind blowing read, impossible to put down. It has an Irish connection too – YKW, I’ll re-read it.
*NB – Finally able to post this comment.
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