why didn't they build infrastructure with 1.65Bn from budget

Would this money not have been better spent on new capital infrastructure like roads, schools and hospitals?

Is the government so far down the track of PPP that they couldn’t spend the money there.
If it was for the builders then the skills involved in building houses are relatively easily transferable to schools and hospitals.

If it was just to bail out the developers with loads of unsold houses and sites then obviously they couldn’t divert to useful projects like infrastructure.

I know we didn’t get good value for the road projects that we built during the boom but at least they are there for us now and for the future.

It costs money to run schools and hospitals. You’d end up with closed classrooms and wards with idle hardware due to ‘budget cutbacks’!

Tom Parlon has hijacked the Irelands Government and thus the democratic process for the short gain of a few in trouble builders.

It is really a bank bailout. Can you imagine how far up the creek a cohort of society would be if property lost 605 of its value?

Many would default on loans

Many would be out of work

The only solution would be massive inflation

Not an option with ECB

When your only tool is a hammer, every problem is a nail.

The guys in the government hot seats at the moment only know one way to govern. Take endless streams of cash from property deals. Plough some of that back into tax incentives to keep the property pyramid growing, plough the rest into the ever more expensive public service to avoid strikes in hospitals and schools etc.

Keep “partnership” going at any and all costs.

They literally don’t know ANY other way to run a country.
They HAVE to get people buying houses again. They have no other plan, no other strategy.

Even after preparing the public for pain in the buget, they weren’t actually capable of delivering. They only knew how to hit soft targets, protect the public service workers (throw in a bit of tough talk, no action) and create another scheme or two to get houses moving again.

They’re not all evil, mean, nasty. They are just hopelessly and completely out of their depth. Tom Parlon is just a witch doctor offering to cure the country for 30 pieces of silver, and the government haven’t the ability between them to see any other options, or to weigh up whether his magic beans are worth a damn.

The Greens don’t really care what the solution is, as long as it produces less CO2.

The Minister for Health knows that she won’t be remembered as the woman who fixed the health service, so she’s willing to cut and slash anything, her reputation no longer matters a whole lot.

The leader of the PD’s (yes they still exist) is a nobody. When the recent votes on the future of the party happened, he was standing beside Harney and O’Malley, and both were shown commenting in the news clip, while he stood by silently.

This government, is completely lost at sea. If you gave them 50 billion as a donation, they wouldn’t know what to do with it. They’d probably build houses.

-Rd

1.65bn for homechoice loans seems completely wrong when the Newlands Cross interchange upgrade has been delayed indefinitely. Hundreds of thousands if not millions of people are impacted to a greater or lesser extent by this particular infrastructure deficit yes there is plenty of money for AH sub-prime mortgages, Tullamore By-passes and By-passes in Galway.

Excellent post RD, I think that concisely summarises the state of the current government. Lost at sea indeed.

Rd - Sometimes I agree with your posts and sometimes I don’t, but this time to use your own terminology you hit the nail on the head.

I should also say, there’s no great shame in being out of their depth in the current situation. Is there anyone on the planet who could put together a plan to make everything all right in Ireland? I think we’ve passed the point of no easy return.

The shame if there is any is in letting it get this far without even trying to avert it. They were cheerleading us down this road when anyone could see it would only end in tears.

Bertie’s suicide jibe gets more sickening by the day.
Fahey’s Negative Equity Roadshow.
Lenihan’s call to patriotism.

The only new industry we’ve created recently is a SubPrime lending startup.

I don’t expect these guys to know how to make things better. But I do expect them to give up making things worse by chasing their losses on property and trying to get us “back in the game”.

-Rd

Well said daltonr :wink:

Our economy is very vulunerable now and will worsen rather quickly over Q4 and into H1 and onwards. I am so annoyed and frustrated when I hear our Gubberment blame external factors like the global credit crisis.

Yes, this was part of the problem but this came later, long after the seeds of chaos were planted. This Gubberment has listened too much to Big Business Vested Interest Groups and now we are in the shitter.

The CIF need to get real and face up to their responsibility to the country and it’s citizens and yes, as an organisation, the CIF do have a moral responsibility but no, they rather screw and rip the nation off. We need balance and less of the excessive greed factors. Take your greed to development sites at Eastern European countries and fcuk up those countries too while your at it - they are particularly talented at fcuking up societies backed by a Gubberment rubber stamp.

As for the banks - perhaps I best stop my rant. So when is that sorry ass Neary walking the plank. How that man can sleep at night knowing the almighty mess he has sat upon and failing to act pro-actively. Forget emptying your desk drawer and filing cabinets Neary, just leave quietly please via the sub basement please XX

From +€10bn surplus to -€7bn (and growing) deficit. If this happended in the corporate world, your arse wouldn’t hit the ground on the way out the door. But mark my words, the Irish people will vote these gangsters back in for more of the same. I can almost sense a tone of social unrest in the air and I ain’t talking about radical thinkers here but normal everyday individuals, such is the utter frustration and anger. The energy regulator is Neary’s clone. Why don’t our Gubberment splap Gas and Electricity suppliers with a levy and pass law to prevent them passing the cost onto the consumer. We are being 8-

I honestly do not see my future in Ireland for me and my family - the place is rotten to the core.

If they really wanted to keep employment in building up, they could have cut or suspended VAT on registered builders. This would have amounted to a 13.5% cut in prices on supply and build (think extensions, new bathrooms, new kitchens etc. etc.). It would have kept decent builders in work. 1.65 billion is a lot of sub-40 sq metre extensions…

Hear hear!!