WEXFORD INDEPENDENT:NEWLY ELECTED Independent TD for Wexford Mick Wallace says he hopes to form a technical group with other like-minded Independents to get speaking rights in the Dáil.
The businessman and property developer told The Irish Timeslast night that he would not support a Fine Gael administration and suggested Fine Gael and Fianna Fáil should join together in a coalition.
He said Labour should stay out of government and aim to be the biggest party after the next election. While not ruling out an informal alliance with the United Left Alliance, he added that he “knows very little about them”.
Mr Wallace (55) obtained 13,329 first-preference votes and was elected on the first count after just 16 days canvassing, having announced his candidacy on Tonight with Vincent Browneon TV3 in early February.
Although he owes more than €40 million, Mr Wallace said he has been working with his banks for over three years and doesn’t expect to be made bankrupt.
Bankruptcy disqualifies a person from membership of the Dáil. He added that he had a current tax cert.
“I ran a successful business and made a profit for 25 years. My assets were worth twice what I owed until values crashed. Just because my assets lost value doesn’t make me a criminal.” He said he owned 70 properties in Dublin city centre and all were occupied, with the rents going directly to the bank. His debts were not in Nama, as they were owed to foreign banks.
He said it was disingenuous to liken him to other developers. “I have no respect for money, I’m not interested in hoarding the stuff and I’ve never been to the Galway tent.” Last year, he took a salary of €40,000 from his business.
Mr Wallace said that when he started in property development, another developer took him aside and said there were three things he had to do: join Fianna Fáil, wear a suit and cut his hair.
“I wouldn’t feel comfortable in a suit,” he replied, when asked if he would conform to the Dáil’s requirement to do so. “It’s ludicrous; so long as a fella washes himself and is clean, he should be welcome.” Mr Wallace said the main parties had been writing him off as a celebrity candidate but this was rubbish as he had been working for years in the community.
He said he made no promises other than the promise to be honest. “Anyway, promises from politicians are for the birds. They’re never implemented anyway.”
He wouldn’t be engaging in parish-pump politics: “I made it plain that I won’t be fixing potholes or helping people to jump queues for housing or hospitals.”
The most recent accounts for MJ Wallace Ltd, in 2008, list bank loans of almost €42.5 million and annual interest payments of €2.6 million. Remuneration for the directors – Mr Wallace and his son Sasha – came to €290,000.
From Wellingtonbridge in south Wexford, Mr Wallace studied history and philosophy at UCD and later qualified as a teacher. He started as a subcontractor doing work for Dublin city council and moved into property development in 1997.
His companies specialised in building infill developments in inner city districts, including the so-called Italian quarter in Dublin, and he opened wine bars in many of them.
He also founded Wexford Youths football team. Mr Wallace has four children aged from 16 to 29 and lives in Clontarf in Dublin during the week.