But if you spend say ā¬20bn on infastructure or whatever, that will return say ā¬40bn to the exchequer over 20 years then we should spend spend spend.
Pissing it against the wall is not good, but investing it wisely is well worth going into the red for
Leo today reckoned increasing corporation tax to 15% will reduce the tax take by 2 billion.
He really is a thick cunt with no confidence in the Irish people.
Yeah Iād broadly agree with that
Rates were pretty much zero before covid. Borrowing for capital projects makes sense.
FG have let current spending absolutely balloon with nothing to show for it.
Well if you make your living attracting the types who go wherever tax is cheapest then I think itās fair to say you might lose a chunk if you change. Not the big boys with big operations, but thereās a lot of shadow shit run through here thatāll run through somewhere else as quick.
We shouldnāt give an inch on tax until they crack down on Jersey, Caymans, Virgin islands, Gibraltar etc they could easily be sorted if there was any desire to do so. Half of them belong to the Brits.
That 2 billion is to do with BEPS Pillar 1 where tax gets reallocated to the market country, where stuff is actually sold rather than where profits are booked.
This rise is only for companies turning over more than 750m per year ?
You have to spend money to make money
Ya but thereās a lot of magic shit that goes on, companies making 3bn a year here, can by the flick of a switch be making 3bn a year somewhere else
I agree largely that borrowing for CapEx makes sense with the caveat that the individual project must make sense and also consideration must be given to capacity issues .
On your second point Iād suggest that while current spending has increased significantly over the last 5 years the deficit was being cut year on year and the budget balanced up to the pandemic. It was being paid for. Also, seeing as large chunks of that spending increase was pay deals for the likes of yourself itās a little ironic you bemoan it.
The new rules look at group level not company level, the net is closing so less opportunities to get out of minimum 15% going forward
Theyāll find a way. The Double Irish was ended 5 years ago, and it made no odds
Ya but that was just at an Irish level, this is pretty much worldwide. The next fight moves to what exactly the 15% rate will apply to exactly, think China and Poland have some issues here
If 140 countries sign there are 50 plus not signed. It will definitely make it harder, Iām actually all for it, but the cunts making us sign it wonāt enforce it at all when it suits them. Thereāll be sweetheart deals all over the shop while we have our hands tied by EU regs
Pierre and Fritz clicked their fingers and we folded.
Weāve given them our fish and now weāve ceded another of the few economic advantages we had.
Your last point is small and petty and incorrect.
On the runaway spending all the while storing up a housing crisis, a worsening health care system, worsening education system, and missing every climate target and with no asset to show for it, itās hardly laudable, is it?
Ya be interesting to see how it all plays out
The overspend by recent governments was a predictable capitulation to special interest groups and was paid for by savings on debt interest and unexpected corporation tax receipts, neither of which can be expected in the future.
The fiscally prudent party using windfall gains to cover the runaway spending that resulted from their policy choices.
Yerra, thereās always something.