IE: Eddie Hobbs has a go @ Brian Cowen … qqqx=1.asp

Blue Horseshoe

Hobbs was discussing this with Matt Cooper on the radio this evening.
Eddie isn’t one bit happy about this state of affairs and implied that the Goodbody review was a joke.

17 mins 45 secs in [windows media player /winamp required]

Being in the tax game myself (private sector), I remember when this legislation was introduced (but with the stated provision that it would only become effective on the signing of a Ministerial Order)

At the time, house prices were still rising, as I recall (this was a couple of years ago before I discovered the pin, so it may have just been a perception of rises), and my feeling at the time was that if the loophole was closed, then the extra cost to the developer would be handed on to the ultimate purchaser, and Cowen could legitimately claim that he did not want to further artificially increase house prices in this way, but had the legislation ready to go at the stroke of a pen once the effects had been fully ascertained.

I’m not saying that this was his actual motivation for not bringing it in straight away (my assumption is that he just wanted to get Joan Burton off his back temporarily), but it’s what I would have said if I was him …

Incidentally, he justified not signing the order a couple of months ago using that very rationale … “not wanting to adversely influence the market”

I wonder if he sees all the tax breaks given to investers as influencing the market adversely.

Revoking the Bacon report anyone?