Monthly Archives: January 2012

Revenue officials admitted they will hit 15,000 people who have small occupational pensions with a higher tax bill.

But the tax hit will only be temporary because these people are exempt.

That means the taxman will take the money — for a while — and then return it to the pensioners.

The bizarre decision raises serious questions about Revenue’s handling of what has now become a fiasco.

However, the reality for thousands of elderly people now is confusion and a sense of alienation, according to Pensions Ombudsman Paul Kenny.

 

Pensioners Told To Pay Tax They Do Not Owe (Charlie Weston, Irish Independent)

(Photocall Ireland)

IRELAND CLEARLY needs further financial assistance on “non-market terms”, the chief economist with Citigroup, Willem Buiter, said during a visit to Dublin.

The former member of the monetary policy committee of the Bank of England said the most attractive option from Ireland’s point of view would be a reduction on the interest it pays on an outstanding €30 billion in promissory notes, issued mostly to deal with the collapse of Anglo Irish Bank.

OR we could ‘restructure sovereign debt’, he suggested.

OR we could ‘revoke the government guarantee on bank debt’, he posited.

OR we could ‘consolidate all our monthly outgoings into one easy, manageable payment’, he might at least have added for the laugh.

State Needs Further Bailout, Says Bank Expert (Irish Times)

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