Does this muppet actually have a clue, they are going to move the loss from one row of the ledger to another. It’s still the taxpayer picking up the tab at the “long term economic value” of the site. By the way the government can buy a site under compulsory purchase order, so he got no concession.
Wouldn’t surprise me (that they’d try to spin even this issue in such a way).
This social dividend clause is just more spin and yet another sop to distract minds from the critical issues which could be framed as follows.
Why should the people of Ireland have to pay so much for something that in justice always belonged to them. ie. The Land of their country. (I don’t mind so much paying the building component cost). The system that allowed a select group of elites to benefit so massively from the value that is inherently contained in the land was always wrong. So why are we putting forward a ‘solution’ that only serves to keep this system going? (however many ‘clauses’ you insert)
It is obvious that a large proportion of the vast sums that will be borrowed in our name will be given out again to developers to market and sell their properties and to FTBers to buy said properties - since the whole NAMA concept is predicated on the idea of ‘getting the market going again’ (it is easy to read this intention between the lines of all the spin we are fed. eg. here). Is this really the best use of we can make of the vast sums of capital that will be made available to us? Or, is it just to save certain skins? (answers on a postcard)
Well said Roc,this entire production is flawed for this reason alone…It maintains the steely grip of “Property Ownership” as the ONLY motivating function of an Irish Government.
When,in God`s name,will some Politician speak up for a Society in which it is NOT a pre-requesite for every post-pubescent person to take out a mortgage on vastly overpriced and ill planned resedential accomodation ?
This “recovery” strategy of ours remains firmly rooted in our recent past and the need to keep “The Lads” onside…Its a busted-flush as far as Im concerned.
The ‘social dividend’ also serves to add yet another layer of market manipulation to the whole mess. And gives public servants more opportunities to make a dog’s dinner of the whole thing.
The Greens have also given Lenihan another soundbite he can use to justify NAMA to the masses. “This land isn’t worthless, it has great value to the needs of the people, and a lot of it is being earmarked for much needed schools, sports facilities and infrastructure”.
I really thought the property crash would be finished by now, and I’d be happy to buy my own place at an affordable price. But I won’t be buying anything now until NAMA winds up in 10 years from now. How could you contemplate buying property with such market manipulation going on, and the threat of ever higher taxes looming to pay for it!?