tag:blogger.com,1999:blog-8817171247555815363.post3932392029300649991..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: Economics 2/12/10: Exchequer returns - tax receiptsTrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-8817171247555815363.post-9518708607469928182010-12-04T02:23:02.440+00:002010-12-04T02:23:02.440+00:00Lets face it. Income tax is really the big indicat...Lets face it. Income tax is really the big indicator. It is still falling, and with an estimated further 70, 000 to lost their jobs next year, will continue to, as will all of the expenditure related taxes. Our €6 billion cuts will probably produce a net saving of about €4 billion, while pushing unemployment past the half million mark. Predictions are meaningless, people working or not is the only true indicator of the state of an economybarrymcd99noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-3875124677397922542010-12-03T15:14:04.140+00:002010-12-03T15:14:04.140+00:00Hi Constantin,
It's pretty grim alright. How...Hi Constantin,<br /><br />It's pretty grim alright. However if we look at the monthly figures tax revenue for each of the past three months has been ahead of the 2009 equivalents. See <a href="http://economic-incentives.blogspot.com/2010/12/november-exchequer-returns.html" rel="nofollow">here</a>.<br /><br />The annual comparisons are negative (-4.6% on 2009) but this is largely due to the abysmal performance of revenues in the first three months of the year (-15.0% on 2009). <br /><br />Since then things have stabilised considerably and in the last three months tax revenue is actually 6.0% up on the 2009 figure. Granted most of this is due to Corporation Tax (+37.4%), but Income Tax (-1.4%) and VAT (-0.7%) are showing a big improvement on their abject performances earlier in the year.Seamushttps://www.blogger.com/profile/15679299530222667673noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-37552661891105941932010-12-02T20:04:09.482+00:002010-12-02T20:04:09.482+00:00I largely agree but
- it is good news that the for...I largely agree but<br />- it is good news that the forecasts are getting better, because part of the problem is that DoF gets its numbers wrong all the time<br />- tax receipts above forecast means borrowing below forecastrichardtolhttps://www.blogger.com/profile/14239680555557587153noreply@blogger.com