Madam, – The Budget is tough. Even the Government admits that. But we all know the harsh measures involved had to be taken.
We will all suffer in the short term, but I am tired of the constant bleating of Fine Gael and Labour about everything the Government tries to do to get the economy back on track.
The Government’s job is to govern and decisions had to be taken which would speed up our recovery from the recession.
It is in the interests of our children and our children’s children that we take some pain now so that this country gets its finances in order and we can return to normal business as soon as possible.
Future generations will not thank us if we dodge the big issues now. We expect our politicians, all of them, to act responsibly to get us through the difficult times ahead.
So let’s have both Government and Opposition casting aside their petty differences and working for the good of the country. It’s in all our interests that they do so. – Yours, etc,
Madam, – Having set up a National Asset Management Agency, why doesn’t the Government set up a national building agency?
The land and building sites are hopefully at rock bottom prices and a highly skilled labour force is on the dole.
If the best of the building sites were to be completed this would give employment and generate housing at affordable prices. Banks would be free to lend, stamp duty would make a comeback (though admittedly at reduced rates), dole payments would go down and people working would generate income tax. The new building agency should not include any of our present developers.
Let’s try something positive instead of the present commitment to tax them till they drop. – Yours, etc,
Madam, – The creation of a National Asset Management Agency with a purely commercial remit is worrying when it comes to loans given to speculators. If the assets are agricultural lands which were overvalued due to speculation that they would be rezoned, then there is a danger that Nama will try to maximise the return for the taxpayer by continuing with the speculators’ redevelopment plans. Instead, the following should happen:
1. Nama should have a wider remit to maximise returns for society, not purely commercial returns.
2. This once-in-a-generation chance to implement the 1974 Kenny report recommendations on development land should be taken. Any lands to be rezoned should be bought by the State at a fair value, then rezoned, masterplanned and sold on as serviced sites.
3. Land banks zoned for agriculture, or in areas which are best left undeveloped, should be designated as protected green belts, ot national parks, or else developed for market gardening to provide food for the adjacent towns and cities. – Yours, etc,
Madam, – The planned toxic bank to be run by Nama will involve the State taking on approximately €76.5 billion of debt (April 9th). This will cost about €3 billion a year in interest repayments alone.
This week’s Budget will boost the Government’s coffers to the tune of about €3 billion this year.
So now we know. Every cent in extra tax levy we pay and every cut in public services from this Budget will pay for only one thing: the bail-out of bad loans lent by banks to property-related investment. – Yours, etc,
Madam, – Annual income €34 billion, annual expenditure €33.99 billion, result a small budget surplus. Annual income €34 billion, annual expenditure €60 billion, result, a draconian budget (the first of many) and a forlorn hope that something will turn up. – Yours, etc,
Madam, – In the light of the deep cuts in the Budget, is it not time to start imposing taxes on lottery winnings? In the US, lottery winnings (along with all other gambling gains) are subject to capital gains tax at the standard rate; and typically an estimated amount is deducted before the winner receives a payout. It is up to winners to then file a tax claim with the internal revenue service if they feel they have been overcharged – although this can trigger an audit of all of a winner’s income. – Yours, etc,
Madam, – Moneylenders must be rubbing their hands in glee at the big Christmas bonus that has been handed to them in the Budget. Families on welfare don’t have extra cash to put by for special events such as Christmas. The temptation to get additional cash from a moneylender to provide some festive cheer is huge, but simply creates a more entrenched poverty trap for those already on the margins.
I cannot believe that the saving made by cutting the Christmas double payment is worth the long-lasting misery that will be created by the measure. – Yours, etc,
Madam, – The proposed initiative of the Government to establish Nama represents an enormous commitment of the Irish people to underwrite unknown liabilities well into the future. The success or failure of this venture will not be manifest until long after this administration has left office.
Given the appallingly poor record of State management of large enterprises and the tendency to over-staff and under-perform, the prospects of success are questionable. I believe it is our duty to demand the Government seek a fresh mandate from the people before they be allowed consign us to a generation of huge uncertainty flowing from the biggest bet ever made by the State. – Yours, etc,
Madam, – The bank directors should have to negotiate with the Government in line through the glass at the unemployment office. It might give them (and the Government) a more realistic view of their current situation. – Yours, etc,
Madam, – Spending on public transport slashed in horror budget! What an astounding victory for our ever-so-green Greens. – Yours, etc,