2014-04-22 - Socio Economic Review 2014 - Full text and cover - FINAL

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***Figures from 2013 to 2015 are taken from Budget 2014 figures and outlined projections. Can we provide high-quality public services to all while allowing total expenditure to fall as a percentage of GDP? And if there is an improvement in various indicators should any additional revenue be used to reduce taxes or increase expenditure. We believe a new policy framework is required; one that recognises the need to increase taxes towards the European average in order to fund the public services that we need, while implementing new criteria for policy evaluation. 2.3 A policy Framework for a New Ireland To achieve our vision we have established a policy framework that identifies five key policy areas for reform. 8 • The first is macroeconomic stability, which requires a stabilisation of Ireland’s debt levels, fiscal and financial stability and sustainable economic growth, and an immediate boost to investment, which has collapsed during the crisis. (Dealt with here and in chapter 4) • The second is the need for a just taxation system, which would require an increase in the overall tax-take to the European average; such an increase must be implemented equitably and in a way that reduces income inequality. (These issues are dealt with in much greater detail in chapter 4). • The third area is social protection, the strengthening of social services and social infrastructure, the prioritisation of employment, and a commitment to quantitative targets to reduce poverty. (Chapters 3, 4, 5, 6, 7, 8 and 9). • The fourth area is that of the governance of our country, which requires new criteria in policy evaluation, the development of a rights-based approach, and the promotion of deliberative democracy. (Chapter 10). • Fifth, policies must be adopted that create a sustainable future, through the introduction of measures to slow down climate change and protect the environment, the promotion of balanced regional development, and promotion of new economic and social indicators to measure performance, alongside traditional national accounting measures such as GNP, GDP and GNI. (Chapters 11, 12 and 13). 8 The authors have presented an earlier version of this framework in Healy et al. (2013). 2. From Crisis to Viable Future Pathway 35
Table 2.7 – A policy framework for a New Ireland Ensuring macroeconomic stability Debt sustainability Fiscal and financial stability and sustainable economic growth Investment programme Towards a just taxation system Bring Taxes to European average Increase taxes equitably Reduce income inequality Enhancing social protection Protect services and the social infrastructure Combat unemployment Reduce Poverty Reforming governance Reform policy evaluation A Rights-based approach Deliberative democracy Creating a sustainable Future Combat climate change and protect the environment Balanced regional development New indicators i) Ensuring macroeconomic stability Ensuring macroeconomic stability requires a reduction in Ireland’s debt burden, the launching of an investment programme and a restoration of fiscal and financial stability. All of these measures are connected. An investment programme will contribute to growth which would in turn lower Ireland’s deficit and real debt burden. A reduction of, or commitment to reduce, Ireland’s debt burden will increase confidence in the capacity of Ireland’s economy to expand and for the country to fully exit the EU/IMF programme without the requirement of additional credit facilities or the activation of the Outright Monetary Transactions (OMT) programme, thus reducing yields on Irish government debt. As we have noted, Ireland’s macroeconomic policy will be severely constrained. Since Economic and Monetary Union (EMU), monetary policy has rested with the European Central Bank, and the single currency has prevented the kind of currency devaluation engaged in by Ireland during the late 1980s (Kinsella, 2013). Following the introduction of the fiscal rules, Ireland’s fiscal policy will also be constrained as noted in Box 2.2. a) Debt Sustainability In October 2013, the Department of Finance has estimated that the debt-to-GDP ratio will peak in 2014 at 124.1%, somewhat higher than the 121.4% estimated in 2012 and the 123% estimated in April 2013 (Department of Finance, 2013a: C19). The estimated peak of the debt-to-GDP ratio has tended to rise due to overly 36 Socio-Economic Review 2014
Page 1 and 2: S O C I O - E C O N O M I C R E V I
Page 4 and 5: S O C I O - E C O N O M I C R E V I
Page 6: TABLE OF CONTENTS 1. Introduction 7
Page 9 and 10: There are four key steps for such a
Page 11 and 12: • The first is macroeconomic stab
Page 13 and 14: In this chapter we will chart the b
Page 15 and 16: (O’Connor et. al., 2012: 69). The
Page 17 and 18: What are the reasons for the emerge
Page 19 and 20: produce greater and more lasting pr
Page 21 and 22: esembles the German tradition of or
Page 23 and 24: market, became the first country to
Page 25 and 26: the European Stability Mechanism (E
Page 27 and 28: Chart 2.11 Comparison of 10-year Go
Page 29 and 30: pressing concerns surrounding the l
Page 31 and 32: 2.1.3 The Troika programme, 2010-20
Page 33 and 34: Table 2.6 - Poverty and Deprivation
Page 35: a reduction in total expenditure (i
Page 39 and 40: Chart 2.13 - Maturity Dates of Iris
Page 41 and 42: These figures are from an extremely
Page 43 and 44: A key part of Ireland’s industria
Page 45 and 46: Employment has finally begun to ris
Page 47 and 48: is becoming ever more urgent for Ir
Page 49 and 50: c) New Indicators Creating a sustai
Page 51 and 52: analysed in this section, indicates
Page 53 and 54: weekly income level will be counted
Page 55 and 56: Table 3.3: The numbers of people be
Page 57 and 58: Table 3.5 looks at adults only and
Page 59 and 60: This reflected the rise in unemploy
Page 61 and 62: 2001. These are the years that the
Page 63 and 64: Table 3.11: Levels of deprivation f
Page 65 and 66: Moving to persistent poverty Social
Page 67 and 68: Chart 3.1: Percentage difference in
Page 69 and 70: the years to come (Mallon and Healy
Page 71 and 72: Chart 3.3: Ireland’s Income Distr
Page 73 and 74: Table 3.15: The distribution of hou
Page 75 and 76: Table 3.17: Gini coefficient measur
Page 77 and 78: Individualising social welfare paym
Page 79 and 80: for every euro earned the person wi
Page 81 and 82: • Provide substantial new measure
Page 83 and 84: Table 4.1: The changing nature of I
Page 85 and 86: Looking to the years immediately ah
Page 87 and 88:
may be some return from a number of
Page 89 and 90:
Taxation and competitiveness Anothe
Page 91 and 92:
Reforming and broadening the tax ba
Page 93 and 94:
Analysis of High Income Individuals
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with little benefit in terms of job
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Results from Census 2011 indicated
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• The major components of these a
Page 101 and 102:
Standard rating discretionary tax e
Page 103 and 104:
Although all of the income taxation
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demonstrates the equity attached to
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• Would incentivise employment ov
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this complexity vary but they are f
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S O C I O - E C O N O M I C R E V I
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This transformation in the labour m
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Table 5.3: Unemployment in Ireland,
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Previous experiences, in Ireland an
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The Live Register While the live re
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Even the most optimistic economic a
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The need to recognise voluntary wor
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- Ensure that the social welfare sy
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increasing taxation in Ireland has
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library services Libraries play an
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cent in households in the bottom 20
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the supply of these services. Socia
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Sports A report carried out by Inde
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developments. Complex regulation al
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Housing: a New philosophy Given the
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subsequent failure to implement a s
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Table 7.2- Population and housing s
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Social Justice Ireland believes tha
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or green areas and are located a go
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Table 7.5 - Mortgage Arrears Jun-12
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country. The most recent assessment
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(25 per cent) of households, with t
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Table 7.8 Percentage distribution o
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esulting in this mechanism becoming
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2013 nearly 2000 units were leased
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Social Justice Ireland has also pre
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Housing and children Factors which
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• Government should also meet com
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poverty and Health Health is not ju
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life expectancy According to Eurost
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Health stating that it will not be
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Table 8.2 - EU 27 Expenditure on He
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Figure 8.1 - Expenditure on health
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older people’s services Although
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people in their own homes/communiti
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Children and family services There
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catchment areas and community menta
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The sustained high level of suicide
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• Continue to facilitate and fund
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Education in Ireland - the numbers
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with significant increases projecte
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for both individuals and the state
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cause of considerable concern for p
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Department has transferred responsi
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minimum of 30 per cent of all enrol
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costs, repaying such borrowing when
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communities. Census 2011 showed tha
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Refugees and Asylum Seekers Until r
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Social Justice Ireland proposes tha
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This emigration ‘brain drain’,
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Backbenchers have little control ov
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economic, social and community deve
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over many years by Government. In r
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seen as the key to resolving many a
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Ireland. The common good must be at
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downplay as externalities. Shadow n
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All areas of governance, from inter
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the failure by governments to imple
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natural resources is required to en
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climate policy across all Governmen
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economy. Capital investment will be
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environmental taxation. Eco-taxes,
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Rural and Regional Development The
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away from a focus dominated by agri
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Rural development and the challenge
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public services and rural transport
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to oversee six pilot programmes to
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Table 13.1: Distribution of Family
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Key policy priorities on Rural Deve
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addressed urgently as part of the C
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leaders promised to work together t
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In order to ensure good governance,
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• Sustainability should be the co
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vision of zero new HIV infections,
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as sufficient to ensure that everyo
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achieve his or her potential only i
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they live with sufficient income su
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Child benefit remains a key route t
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poverty by region and area Recent S
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the home due to a combination of th
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These results, which complement ear
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transition from boom to recession o
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until Budget 2005. At its first opp
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Table A4.1: Total tax revenue as a
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Effective tax rates To complement t
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Income taxation and the income dist
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Chart A4.3: VAT and excise duties a
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figure increased by almost one mill
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A7.4 Net Household Need 1993-2013 y
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Transport • Ireland’s car densi
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land use • In 2010, 10.7% of Irel
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goal 6: Combat HIv/AIDS, malaria an
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Browne, M. (2007) The Right Living
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Central Statistics Office (2006) In
Page 303 and 304:
Daft (2013) Daft.ie rental report 2
Page 305 and 306:
Department of Environment, Communit
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Department of Health (2012) Annual
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Environmental Protection Agency (20
Page 311 and 312:
Eurostat (2013) Internet access and
Page 313 and 314:
Healy, S and Reynolds, B. (2003)
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International Monetary Fund (2012)
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National Anti-Poverty Strategy (199
Page 319 and 320:
Perkins, R., G. Sheil, B. Merriman,
Page 321 and 322:
United Nations Programme on HIV/AID
Page 326:
There is an extraordinary reluctanc
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2014-04-22 - Socio Economic Review 2014 - Full text and cover - FINAL

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