Public Expenditure

Government spending is €58.1 billion in 2010. €19.86 billion for public sector pay and pensions: €22.3 billion social welfare: €7 billion on national development plan: the rest costs €16 billion. The deficit is about €25 billion. That is >€400 million per week of borrowing. The economic disaster is shown by tax revenues of €56 billion projected in 2007 budget whereas taxes in 2010 are projected at €30.8 billion before the budget. Currently, the top 4% of taxpayers pay 48% of total income tax.

Bill says that social spending should be targeted on those with lowest incomes and tapered off to exclude those on highest incomes. The state should take action to reduce the gap between rich and poor. Universal benefits are just vote buying inefficiencies. We need politicians in this country who speak out for common sense not sectional interest. As we all know, common sense is quite uncommon.