Stability Programme Update

The April 2012 Stability Programme Update from the Department of Finance is now available as well as a short statement from Minister Noonan.

8 replies on “Stability Programme Update”

The tolbooth economy / state may have taken its first direct life today.

According to some reports a Polish girl died on the North Cork Toll plaza as she reached for money to pay for access to a near empty road….she subsequently lost control of her car.

The European collapse continues……..

“COMMERCIAL VEHICLES: registrations down 9.6% in first quarter
Brussels, 27/04/2012 – In March, new commercial vehicle registrations dropped by 11.8%, totaling 184,235 units in the EU*. With the exception of Germany (+0.3%), all other significant markets shrank, from -7.0% in the UK to -11.2% in France, -22.1% in Spain and -45.4% in Italy. Over the first quarter of 2012, demand was down 9.6%, compared to the same quarter a year earlier. Downturn prevailed across countries as new registrations fell by 1.0% in Germany, 5.8% in France, 8.9% in the UK, 22.6% in Spain and 36.1% in Italy. In total, the EU* recorded 451,244 new commercial vehicles.”

However something very strange is happening to the Bus & coach market.. particularly in the UK with it showing another very strong month.

“In March, buses and coaches were the only segment to post growth (+17.9%), sustained by the strong demand in the UK (+86.7%) and Germany (+22.6%). From January to March, the UK (+70.1%) and Germany (+18.8%) remained the largest markets, followed by France (-11.5%). In total, 7,779 new vehicles were registered in the EU*, or 6.2% more than in the same period last year.”

Since only both the UK & Germany are operating withen a more optimal monetary envoirment I think we are seeing tentative effective good substitution withen this area (people are dumping their cars for buses)

The UK accounted for 28%+ of all bus regs in the EU so far !!! (Jan – March) at 2,192 vehicles….. this contrasts with Germany at 1,231 and Spain at 450.

Is a debt ratio of 117% at the end of 2015 on optimistic assumptions anything to write home about? When did Greece say they would get to 120%?

Do we really need 53 pages to tell us what we already know? How about they publish some readable tables and charts for general use? Pictures can speak. How about they target some modest accuracy, rather than pretentious muddles. Or is that simply beyond their technical capabilities?

The Crawthumpers, Pumpers and Helium Heads are out in force over the 0.7% ‘growth’ rate. Duh! With underlying price increases up, and money supply down, that looks like a bad case of Deflation.

A 2% ‘growth rate’ needs 35 years to make a significant difference (doubling). At 3% you reduce that to 23 yr. At 5% you need 14 years. For 4 years – its a juicy 17%!

The politicians (in western developed economies) have driven their respective countries into, what looked like Wisteria Lane, but in reality it was a hazardous (fiscal) bog. The surface seemed dry and solid. Trouble was, the water table was only a few inches below the surface. Now their vehicles are up to their door-sills in a soggy ooze. Frantic phone-calls to the AA: continuous busy-tone.

Roll up trousers. Take of shoes. “Step it out chaps! Its reality time!”

As far as I know, all member states are required to produce these stability programmes and tables to a standardised EU format. You can’t just produce whatever you like.

@TO’T: That’s what I was afraid of. Make it as impenetrable as possible.

So, they produce what is mandated, stick it on a slightly inaccessible shelf, but give the Irish public something that they can understand. We are afterall paying for this. That should not be too difficult? It would appear, that it is!

Anyways, unless it is in the First Official, its not official! 😎

26 April 2012
“The number of rail passenger journeys across Great Britain has reached record levels according to new statistics published today by the Office of Rail Regulation (ORR).
The figures detail passenger rail journeys taking place within Great Britain from 1995-96 up to latest data for 2010-11, looking at travel within and between 11 government office regions (GORs) – East of England, East Midlands, London, North East, North West, Scotland, South East, South West, Wales, West Midlands and Yorkshire and Humber.

The 2010-11 figures show that:
•1.16 bn rail journeys took place in Great Britain – up 8.9% from 2009-10. 769.8 million rail journeys took place within individual GORs (an increase of 10.3% compared with 2009-10) and there were 393.3 million rail journeys between GORs (up 6.3% from 2009-10).
•The total number of rail journeys for England was 1.05 bn – up 9.4% on 2009-10.
•The total number of rail journeys for Scotland was 85.9 million – up 4.4% on 2009-10. 78.5 million rail journeys took place within Scotland (an increase of 3.7% compared with 2009-10) and there were 7.4 million rail journeys between Scotland and other GORs (up 11.7% from 2009-10).
•The total number of rail journeys for Wales rose to 27.3 million – up 4.7% from 2009-10. 18.7 million rail journeys took place within Wales (an increase of 3.8% on 2009-10) and there were 8.6 million rail journeys between Wales and other GORs (up 6.8% from 2009-10).
•London had more rail journeys than any other government region and 60.7% of all rail journeys in Great Britain started and/or ended in London. There were 706.3 million journeys involving London, an 11.7% increase on the previous year. There were 371.7 million journeys made within London (a 17.3% increase on 2009-10) and there were 334.5 million journeys made between London and other GORs (a 6.1% increase on the previous year).”

Something very dramatic is happening to transport activity in Great Britain me thinks.
Why do you think thats happening ?
Could it be their Monetary policey ?

Their GDP could be declining because they are simply becoming more efficient rather then following Irelands reduction of activity policey.

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