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Thread: Fine Gael - The Bailout Party

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    Default Fine Gael - The Bailout Party

    If FF are the Republican Party then FG are clearly the Bailout Party. From the Party that brought you proposals to compensate Eircom shareholders, and taxi plate holders they are now proposing the mother of all bailouts - developers and residential property investors. Make no mistake - their proposal for a State backed home equity purchase fund is no more than a charter for the bailout of developers and investors using taxpayers money. You could not make this stuff up. Market interference with subsidies through tax breaks etc got us into this mess in the first place and FG's solution is even more subsidies through an indirect social wefare scheme for developers/investors!
    http://www.irishtimes.com/newspaper/ire ... 77596.html

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    Default Re: Fine Gael - The Bailout Party

    Quote Originally Posted by kerrynorth
    If FF are the Republican Party then FG are clearly the Bailout Party.
    Well in that case FG aren't the Bailout party. :mrgreen:

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    Default Re: Fine Gael - The Bailout Party

    Quote Originally Posted by Fr. Hank Tree
    Quote Originally Posted by kerrynorth
    If FF are the Republican Party then FG are clearly the Bailout Party.
    Well in that case FG aren't the Bailout party. :mrgreen:
    The Republican party my ass!!
    "This is one race of people for whom psychoanalysis is of no use whatsoever."
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    Default Re: Fine Gael - The Bailout Party

    Ah Jaysus - would somebody tell Phil that the summer holidays have started - he has full permission to go now - as far away as possible and leave the economic talking to Richard and Leo.

    Then again ,on second thoughts - I come from his constituency and construction has been the only game in town down there for the last 5 years - no harm in throwing a wink in the builders direction - it isnt just the "Fat Cat" developers who are affected - try your strict by the book monetarist economics on the 50,000 or so builders and god knows how many other suppliers to the construction industry who are shortly to join the dole queue and see how it goes down hmmm?

    No harm done really - nothing like a bit of populist rabble rousing to let the Government who are solely concentrating all their effort on.....well I dont know.............whatever they do in the summer time that is so different than any other time I suppose................, its good to let the Gov know that you haven't gone away - no rest for the wicked kind of thing.

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    Default Re: Fine Gael - The Bailout Party

    A State-provided home equity support scheme would finance a certain percentage of the home for applicants who meet the current affordable housing criteria. “Such a scheme would take advantage of the overhang in the property market to provide additional homes for social and affordable housing,” he said
    This is what you seem to be suggesting is a bailout. It seems they are suggesting the governemt should take advantage of the property downturn to buy vacant housing for those on council housing waiting lists. I know my own council bought housing in some large new developemnts for social and affordable housing at the very height of the property boom. FG's proposal seems reasonable to me.

    They also propose:

    ... the commencement of Section 110 of the Finance Act 2007, designed to close a loophole for landowners and developers.

    Fine Gael would also place a restriction on the exemption from stamp duty on first-time buyers, where the property value exceeds €500,000.
    Two measures designed to target developers and the well off, rather than a 'bailout'.

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    Default Re: Fine Gael - The Bailout Party

    FG did not create the present mess. I suppose KerryNorth would have been against Roosevelt's New Deal also. FF is the Boom and Bust Party.

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    Default Re: Fine Gael - The Bailout Party

    Quote Originally Posted by kerrynorth
    If FF are the Republican Party then FG are clearly the Bailout Party. From the Party that brought you proposals to compensate Eircom shareholders, and taxi plate holders they are now proposing the mother of all bailouts - developers and residential property investors. Make no mistake - their proposal for a State backed home equity purchase fund is no more than a charter for the bailout of developers and investors using taxpayers money. You could not make this stuff up. Market interference with subsidies through tax breaks etc got us into this mess in the first place and FG's solution is even more subsidies through an indirect social wefare scheme for developers/investors!
    http://www.irishtimes.com/newspaper/ire ... 77596.html

    From the article - "A State-provided home equity support scheme would finance a certain percentage of the home for applicants who meet the current affordable housing criteria. “Such a scheme would take advantage of the overhang in the property market to provide additional homes for social and affordable housing,” ." How is this a bailout of developers? It is simply ensuring that housing is made available for those meeting the social and affordable criteria. The existing local authority rent/buy scheme is substantially the same as this proposal only FG has demonstrated how to direct more funds into this area by closing a loophole that allows big shots to avoid paying stamp duty.
    Dan Sullivan. I was back but we still couldn't all have a vote. http://www.danielsullivan.ie/blog/

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    Default Re: Fine Gael - The Bailout Party

    It is the price of property that is over hung not the supply.
    Property is just too expensive in relation to current interest rates. The prices were set in a low interest rate environment.

    The State has no business bailing out the Developers.
    Fianna Fail will allow the Irish People, to me milked like Milch Cows, by the CIF through high house prices, rents, and land prices, at the expense of competitiveness,and quality of life. FF+CIF=1

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    Default Re: Fine Gael - The Bailout Party

    Quote Originally Posted by Edo
    Ah Jaysus - would somebody tell Phil that the summer holidays have started - he has full permission to go now - as far away as possible and leave the economic talking to Richard and Leo.
    I think after Leo's cack handed performance on Q&A tonight the Party should be looking at sending him on holidays too.

    Where do they get them?
    "Always do right. This will gratify some people and astonish the rest." Mark Twain

    “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte

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    Default Re: Fine Gael - The Bailout Party

    Quote Originally Posted by SPN
    Quote Originally Posted by Edo
    Ah Jaysus - would somebody tell Phil that the summer holidays have started - he has full permission to go now - as far away as possible and leave the economic talking to Richard and Leo.
    I think after Leo's cack handed performance on Q&A tonight the Party should be looking at sending him on holidays too.

    Where do they get them?
    Eamon Ryan - More Fianna Fail that Fianna Fail themselves...
    Dan Sullivan. I was back but we still couldn't all have a vote. http://www.danielsullivan.ie/blog/

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