careful not to call it a pension fund because FF spent that one when they were in power.
We have one already - the NPRF.
It doesn’t really exist anymore.
It is being transformed into an investment fund with a specific mandate to invest in Irish assets.
So if (when) the country goes down the tubes again, we’ll be caught holding a basket of our own useless assets?
If you want to get really mad… ISIF (former NPRF) is buying sites with developers, with the sites being sold at a massive profit by hedge funds. The hedge funds bought the sites from NAMA and flipped them within 18 months at >100% profit. So Ireland sold assets to a hedge fund who holds them for a short period before selling them back to Ireland at more than double the price. Love this country
Danny Healy Rae explains climate change. WTF, Kerry.
Not only that, but we overpaid for a lot of those distressed assets first time around when NAMA bought them. So we’ve managed to overpay twice… on some of the same assets?
A little bit the first time around, and a lot the second time around.
The greatest little country in the world to do business in!
Makes you proud to be Irish that the electorate has had the vision to vote that calibre of politician into office.
Sean Fleming FF TD on Vinny B last night was only to happy to point out that FG had already rowed back on their pre-election promise to lower/eliminate USC. He was positively beaming while he made that point
Did I read correctly that one of the things FF are claiming credit for is a commitment to extend mortgage interest relief?
Yes and also the increase in the rent cap by ‘up to 15%’. They seemed quiet proud of the latter especially despite it being pointed out to them that it will just push up the price of rent for all until supply gets sorted out
It was set to expire in 2017 and I think has been closed to new entrants since 2013 I think. The cost is about €200m pa (not small money) but was set to fall off quite rapidly as the cohort who benefit are paying off their mortgages quite rapidly and interest rates are falling.
Still, it’s 300k householders who won’t be ringing up Joe Duffy next year complaining that their mortgage payments have gone up.
Some of this shit beggars belief seeing as we had the mother of all busts recently. At this stage I’m just trying to insulate myself as much as possible from the next one.
Proposal to spend €6.75bn more on public services in govt draft document
Seemingly Noel Grealish and Sean Canney have put in a major late push for the railway from Athenry to Tuam to be reopened for passenger traffic. If they don’t get it it seems Grealish will not support the programme for government while Canney still might. Some say Grealish wanted an out and came up with this harebrained idea to get one. We’ll know tomorrow.
On a good day these two peasant gobshites could not organise a proper bus service from Tuam to Galway via Claregalway…never mind a train service. This is merely gobshite politics of the highest order. Nobody will use these bloody trains, same as the one from Ennis to Athenry. It will be too slow and too expensive.
Compared to this moronic idea the cardiac services in Waterford are a great no brainer investment…and will cost a lot less to run every year.
Might i say that a passenger grade modern railway cannot be reconstructed for €55m, it would cost around €3m a MILE to make this line fit for passenger traffic and at a reasonable speed of 60mph in places.
Hopeful FG will tell these 2 idiots to fuck off back to Galway with themselves and their trains and form a government of the semi sentient.
Power at any price with fg salivating at the prospect of power again, doling out the sweeties to every pork barrell gombeen that can jump in a car and get up to dublin.
At this rate we will have ff back in single party govt. within 4 years (as the party of prudence I ask you), with enda’s legacy well and truely on the floor.
That is hilarious - rural passenger trains.
But of course all this is in the national interest as none of the independents will be looking for local deals to ensure reelection…[/pre election media horsehit]
The alternative is what though?
Run a new election? Can’t see anyone getting a working majority anytime soon.
If FF chose to lead a minority govt they’d be giving out the same sweeties to their independents.
It’ll be sweeties for all over the next few years until the Troika are back in town.
All of these independents are absolutely petrified of another election. More than any of the parties. But they are calling the shots. They see enda’s boys coming with their tongues hanging out. The thing was to play hard ball with them and if they don’t like it we’ll take another election in a few months. Best govt. we’ve had for years the last few months.
Cliff Taylor with piece on government agreement for Banking:
I particularly like these:
Right, so the gobsh1tes will set up a “new service” in addition to MABs, the IMHO etc who will be able to *recommend * “solutions” to this new court.
Will this “new service” be designed by Mr. D Hall - given he’s “advising” the independents on this matter?
I despair. Ireland, you are f**king welcome to your elected representatives.