Britannia Radio

[If you want to realise the impact that such a budget might have in  
Britain you should multiply actual figures by about 15!!! ]

This is the result of tears of complacency following their crazy  
decision to join the euro ahead of Britain!  Their exports are  
strongly geared to the UK and US markets and with the euro becoming  
stronger their export prices went up too.  Added to this was years of  
too cheap credit, which they were unable to influence, which caused  
vast over-building of houses and unprofitable investment.  This is a  
country brought to its knees by the EU [Our problems are caused by  
ourselves! ]

And shortly they are to be asked to give a vote of confidence to the  
body that has caused their misery by rescinding their ‘NO’ vote to  
the Lisbon Treaty !   It’s seems like marching happily to the gallows.

xxxxxxxxxxxxxx cs
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EU OBSERVER                   6.4.09
Ireland to annouce harsh budget
HONOR MAHONY

The Irish government is Tuesday (7 April) expected to announce the  
harshest budget in the history of the state to try and get the  
economy back on track as it continues to suffer from the fallout of  
the global financial crisis.
The budget is expected to contain €3.5 billion [say £47.7bn in UK  
comparison] m of new taxes and spending cuts, and is aimed at  
restored international confidence in the battered Irish economy,  
previously famed in its 'Celtic Tiger' days as a model for others.

Recent figures suggest unemployment will average 12 percent this  
year, exports will be down by six percent; GDP will fall by six  
percent and consumer spending will contract by 4.5 percent.

The country has been particularly hit as the property bubble burst,  
sending prices spiralling down by 40 percent and exposing a debt- 
ridden population.
The budget deficit is heading for 13 percent, over four times the  
limit set by the euro-zone rules. The European Commission has given  
Dublin until 2013 to get its budget deficit in order and will be  
closely monitoring the new budget, to be unveiled at 3.45pm local time.

Ahead of the budget announcement, Irish finance minister Brian  
Lenihan said the government has to "repair the tax base" saying the  
measures would not be easy but they would be fair.

He told Irish state broadcaster RTE that those who thought public  
finances could be restored without tax increases were deceiving  
themselves.
"Two-thirds of our spending is now welfare payments and payments to  
public servants. If you want an adjustment on the spending side you  
have to cut pay for public servants or cut rates for social welfare,"  
he said.
"I have not seen many people advising me to do that. Let's get real  
where the balance has to be struck here. Anyone who suggests that  
this cannot be done without tax is deceiving themselves."   [What he  
is saying is that ‘Those who are protected by state employment will  
not suffer.  Those that aren’t don’t matter -cs]

Mr Lenihan, who has warned that the country faces a "very grave  
national crisis," is also expected to announce a new asset management  
agency to buy up property and development loans from the banks'  
books, said to be around €56 billion. [=£763.6bn UK equivalent]

In addition, to an increase in the levy on workers, the government is  
also expected to cut back on road and rail projects and increase  
taxes on alcohol, cigarettes and petrol.

As part of the budget cut, prime minister Brian Cowen has also asked  
all 20 ministers to resign on 21 April. He is then expected to  
reappoint only 15 of them.
"The coming months and years we will be asking people to take the  
strain, to make more sacrifices," he said ahead of the budget, with  
the country already having seen several protests from public sector  
worker