Big boost for Ireland with €14.4bn tax take & the first May surplus since 2008
Tax revenues in Ireland hit €14.4bn in the first five months of the year, an increase of €1.6bn compared with the same period of 2011, according to the latest Exchequer Returns.
And the Exchequer recorded a surplus in the month of May of just over €600m for the first time since the same period in 2008 although the month of November generally records a surplus every year given the concentration of tax revenue received.
The May boost is considered a bellwether for the rest of the year putting the Government on course to meet targets set out as part of the EU/ECB bailout loan terms.
The tax take was €386m ahead of the end-May expectations with VAT and corporation tax the main contributors.
All of the key taxes were ahead of profile including income and VAT.
“With five months of the year passed, we remain satisfied that our tax revenue target for the year as a whole remains achievable, particularly as the performance in May (which is one of the largest monthly collection profiles) held up well,” said a spokesperson for Finance Minister Michael Noonan.
According to the figures, adjusted debt servicing costs were up around €750m year-on-year at end-May.
And overspending continued in areas like health and social welfare with net current spending at €17.9bn – just over 2pc ahead of that budgeted.
However, the overall figures will be a boon to the Government which is under pressure to bring the country’s finances under control against the backdrop of the extent of the bank debt.
Earlier the Government appeared to knock back Taoiseach Enda Kenny’s plans for a reduction in our crippling bank debt on the back of the Yes vote in the Fiscal Treaty Referendum..
A special deal for Ireland on the €60bn bank-plus debt being paid by taxpayers, would send the wrong signal, a spokesman for one of Angela Merkel’s most senior ministers said.
“We see no need for movement at the moment,” said Martin Kotthaus, spokesman for Germany’s finance minister Wolfgang Schauble.
Reopening Ireland’s bank rescue would be a ‘negative signal’, he added.
Germany, as the largest contributor to the ESM, has a veto over the use of funds and can ensure that Ireland’s onerous bailout terms remain in place.
Justice Minister Alan Shatter told RTE Radio today that while “different individuals make comments across Europe” the talks on the debt issue were ongoing and will continue to be on the agenda for weeks to come.
Mr Shatter denied the remarks from Germany were a rebuff to Ireland and said that the Government had objectives to ensure that all that was necessary and possible in the interests of the country, was being done.
Mr Kenny was in touch with German chancellor, Mrs Merkel last Friday and it has been reported that he will go back to EU leaders with proposals to reduce bank debt that were rejected in the past year.
The Taoiseach also said today that a deal is not imminent.
The Coalition is hoping to piggy-back on a possible rescue deal in Spain, where the banking crisis is escalating.
A bank-debt deal would reduce the burden of the €64bn already pumped into the banking system, especially the €30bn of loans for Anglo Irish Bank.
Taking out the €21bn provided from the National Pension Reserve Fund, the remaining €43bn could be shifted from being state debt to the books of the banks. The Government has twice attempted get support on measures to help the banking sector and reduce the taxpayers’ repayments of banking debt.
The deal the Government wants includes reducing the amount by shrinking and pushing out the repayment of bank debt and securing cash flow for banks on a longer-term basis.
The Taoiseach floated the idea of pushing out the annual €3bn repayment on Anglo Irish Bank at the start of this year, but didn’t table it formally.
It came after the complete failure of an attempt last year to secure longer-term cash flow for the banking system from the European Central Bank.
The Government still wants the EU to provide billions to the banks for up to five years.
Last year, Mr Kenny naively brought up this issue of medium-term liquidity, but his request was ignored.
The numbers in Ireland with breathing problems set to spiral to 100,000 by 2020
The number of people with serious breathing difficulties is expected to reach 100,000 by 2020 but the real prevalence could be twice that, according to new data.
The incidence of emphysema, chronic bronchitis and chronic obstructive pulmonary disease (COPD) will increase by an estimated 23 per cent between now and 2020 as the population ages. Currently some 82,000 Irish people are being treated for the condition.
Those affected by what is known as chronic airflow obstruction (CAO) will be concentrated mostly in the poorer segments of society, according to the Institute of Public Health in Ireland (IPH).
CAO is closely linked to smoking. The prevalence of smoking is almost twice as high in the poorest DE category of society (28.3 per cent) than it is among the AB professional classes (15 per cent).
IPH research analyst Steve Barron said the main factor driving the increase was the ageing population. An average of 2.5% of the Irish population have the condition but that rises to more than 6 per cent among those over 65. Mr. Barron said serious lung disease often sets in after the age of 35 and is progressive and not reversible.
However, he said it was also largely preventable as those who do not smoke or give up smoking significantly increase their chances of not getting it.
Mr Barron said because those conditions were often irreversible, the important thing was the promotion of a healthier lifestyle which would moderate the projected increases.
Irish Thoracic Society president Dr Edward McKone said early intervention was critical in dealing with lung damage before it sets in.
“A key message for policy-makers emanating from this report is that only by increasing awareness of the causes, symptoms and importance of early diagnosis will we begin to reduce the burden of this disease,” he said.
Separately, the IPH recently issued a report finding that the number of adults over the age of 45 in the Republic with hypertension (high blood pressure) is expected to rise to more than 1.2 million people or 63 per cent of the population in that age category by 2020.
Prof Ivan Perry of UCC described the prevalence as a looming “mass epidemic” and he warned there was no “magic bullet” solution. He said the report emphasised the importance of weight control, healthy diet and regular exercise in the prevention and management of hypertension.
CAO is an umbrella term covering conditions such as chronic bronchitis, emphysema and asthma. The primary causes of the condition are tobacco and cigarette smoking.
Married deacons ordained into the Irish Catholic Church last night in Dublin
Dublin Archbishop Diarmuid Martin who presided over the ordination of eight deacons.
THE CATHOLIC CHURCH ORDAINED MARRIED DEACONS IN A CEREMONY IN DUBLIN LAST NIGHT.
While permanent deacons minister in other European countries, this is the first group to be ordained to the diaconate in Ireland.
The ceremony, which took place in Dublin’s Pro-Cathedral, lasted almost two hours and was presided over by the Archbishop of Dublin, Diarmuid Martin.
Archbishop Martin said it was a “historic day” in the life of the Archdiocese of Dublin adding that ordination of the eight men to the order of deacons restored the ancient order of permanent deacons.
Speaking to TheJournal.ie, the Dublin Diocese said that deacons are not “lone rangers” but will join priests and lay parish pastoral workers in parishes.
The eight men ordained to the Permanent Diaconate are: Eric Cooney, from Monkstown, who is currently working in financial services; Gabriel Corcoran, of Dundrum, currently working as a lecturer in Dublin Institute of Technology; Gerard Larkin, of Templeogue; Gerard Reilly, of Donaghmede, who is working in financial services; Jim Adams, of Bonnybrook; Steve Maher, of Malahide, who is semi-retired and former Aer Lingus worker; Joe Walsh from Lucan and Noel Ryan from Ballinteer who are both retired.
During his homily (which can be read in full here) Archbishop Martin said that many will ask what deacons are exactly. He said that it is often looked upon as to what the deacon can or cannot do compared with the priest and the ministry of the deacon is looked on as some sort of second-class ministry. He said this was not correct and that the ordinations were a call to service.
There are also certain criteria the men must meet in order to be considered a deacon candidate.
Deacons must undergo four years of preparation to be ordained, which includes academic study, spiritual, human and pastoral formation.
They can assist the priest at the celebration of the Eucharist, of Baptism, marriage and preside at funerals.
Candidates to become deacons may be married or single.
A married man must be at least 35 years of age and a single man at least 25 years of age to be considered as candidates.
A married man must be married for at least five years and live in a “stable and valid marriage” and enjoy the “full support” of his wife. While a single man is required to have a “stable, settled life, a history of healthy relationships and be able and willing to accept celibacy”.
The new deacons are permitted to visit the sick, prisoners and the bereaved. They cannot say Mass or hear confessions.
Archbishop Martin said in his homily that “the Archdiocese of Dublin is undergoing great change” adding that being ordained as a deacon “is not an honour conferred on you, like an honorary doctorate recognising your service” but a calling to “renounce any temptation towards self-centeredness”.
Large waist size linked to type 2 diabetes
Overweight people with a large waist are as likely to develop type 2 diabetes in later life as those who are obese, according to an international study.
Researchers from the Medical Research Council epidemiology unit in Cambridge say that while people who are overweight but “pear-shaped” have a low risk, those who carry the extra pounds around their waist run similar risks as those who are seriously overweight.
Waist sizes of more than 102cm or 40in in men and bigger than 88cm or 34in in women are classed as large.
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