Ireland sees nose dive in spending
Wednesday, 01 July 2009 07:11

Figures just released (July 2009) show spending by Irish consumers has slumped, making the situation in Ireland even worse.

The Irish government has only itself to blame. Any historian could have told them that putting up VAT to 21.5%, slapping on an 'income levy*' of 2% and hitting all public sector employees with an arbitrary 6.75% pension levy was entirely the wrong action.

These politicians can't see further than the nose on their faces! When you see your take-home pay cut by 10% in one month what is the natural reaction - to stop spending. That's just what the Irish have done, and now the government is suprised.

The right course of action would have been to cut taxes, or leave them alone. Instead cut expenditure. That's what sensible households are doing, governments everywhere would do us all a favour by adopting the same actions.

Despite the problems politicians in Ireland are some of the highest paid in the world, there's something rotten about the whole Irish political system that needs fixing.

* finance ministers have choosen to call their increased taxes 'levies' rather than taxes in the hope that it doesn't sound like a tax. They must think we're as stupid as them.



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