SKETCH: Batten down the hatches, there's trouble on the
way. Pensioners, orphans and Ministers first! Brian Cowen put it
another way yesterday, now that we've become too fancy to have a
mere recession: "As the economy begins a period of below-trend
growth, our first priority as a Government is to ensure that the
poor and the vulnerable within our society are protected." Well
said, Biffo. Priorities are important, particularly where
compassion for the marginalised is concerned.
COMMENT: Brian Cowen had to balance the need for spending
restraint in the face of tightening economic conditions with the
commitments of a generous Programme for Government in yesterday's
Budget.
Business
Opinion : For much of this year the Government has been
playing down the extent to which problems were emerging in the
economy writes
John
McManus .
Analysis: Tax revenue in 2007 is now expected to fall
€1.75 billion short of the target set on budget day, due
principally to deteriorating activity levels in the construction
sector.
While Brian Cowen may
not lower the top income rate to 40 per cent, taxpayers may reduce
their liability with a range of tax credits, writes
Laura
Slattery.
Ireland's current carbon emissions are 25 per cent
above the target set by the European Union for this State - and
they must be reduced by at least 20 or up to 30 per cent below 1990
levels by 2020, depending on whether a global reduction deal is
reached over the next two years. Irish emissions are now increasing
by 2 per cent a year when they should be falling by 3 or 4 per cent
if the target is to be achieved.
Inside
Politics: While the details of the Budget will remain a
closely guarded secret until Wednesday week, one thing is already
abundantly clear. Many of Fianna Fáil's key election promises
will be abandoned without a backward glance and necessity will be
portrayed as virtue.
Last Monday,
Tánaiste and Minister for Finance Brian Cowen gave the Indecon
Public Policy Lecture in Dublin, writes
Noel
Whelan . He used the occasion not only to flag some things
he would and would not do in his forthcoming budget, but also to
identify what he regards as Ireland's key economic medium-term
priorities.
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