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Posts tagged ‘Oireachtas’

No To Irish Tax Haven

The Independent MEP for Ireland East, Nessa Childers, has called for complete openness and transparency about the operations of the Clearing House Group, the body of senior civil servants and financiers that lobbies government on behalf of the big banks and multinationals in Dublin’s International Financial Services Centre.

No tax havens

The MEP’s comments follow further disclosures that the Clearing House Group lobbied successfully for at least a dozen major tax breaks and concessions for big companies in the 2013 Finance Act.

Ms Childers said: ‘Every tax break or financial concession given to a bank or a multinational in the IFSC is paid for by either a tax increase or a cut in public spending for PAYE workers and people on social protection. We need to know precisely what these lobbyists are looking for, what concessions are being offered to them and the consequences of those decisions for other citizens. We cannot have important provisions of the Budget and the Finance Act determined through backroom lobbying by an unelected cabal of civil servants and financiers.  This highly secretive process reduces the Oireachtas debates on the Finance Bill to a charade. I call on the Minister for Finance, Michael Noonan TD, to immediately publish full details of this year’s lobbying by the Clearing House Group so that we can have a proper public debate.’  

The Ireland East MEP said it is not enough for the government to publish the minutes of meetings of the Clearing House Group. She said ‘The real lobbying is done in the sub-groups dealing with areas like banking, treasury, insurance and international assets and their minutes are still not published’,

Ms Childers also said there are wider issues relating to lobbying: ‘Through a Freedom of Information request last year, I discovered the extent of the international finance industry’s regular and direct access into the heart of the Irish government, to influence not only Irish domestic policy but also Ireland’s stance on EU policy.’

Who ran up a €1,600 bill ringing a single mobile number in Pakistan from the Oireachtas?

This story is by Ken Foxe and based on a recent story in the Mail on Sunday: Documents obtained under FOI are below.

A politican is suspected to have run up a bill of more than €1,600 calling a single mobile phone number in Pakistan, an unpublished Oireachtas memo has claimed.

Officials in Leinster House’s telecoms unit estimated that calls to a ‘very small number’ of foreign numbers were costing the taxpayer at least €14,000 per year.

Other costs included an estimated €1,249 bill for calling a mobile in Australia, €581 to a mobile in Lithuania, €381 to a Maltese mobile, €370 to a UK mobile, €366 to a South African landline and €331 to a landline in Cyprus. The officials admitted they were powerless to establish whether the expensive calls – made in 2010 – were legitimate as they don’t track who TDs and Senators call on their taxpayer-funded phones.

But the memo stated it was ‘difficult to imagine’ how they could be genuine. ‘It is difficult to imagine what Oireachtas business would give rise to calls costing €1,621 to a single Pakistani mobile phone number, and it would be irresponsible to consider the possibility that such calls might have been an unintended/improper use of the service provided. Without availabe data it is not possible to make any judgement on the matter……………

full article at source:  http://thestory.ie/2013/01/23/who-ran-up-a-e1600-bill-ringing-a-single-mobile-number-in-pakistan-from-the-oireachtas/

Who ran up a €1,600 bill ringing a single mobile number in Pakistan from the Oireachtas?

This story is by Ken Foxe and based on a recent story in the Mail on Sunday: Documents obtained under FOI are below.

A politican is suspected to have run up a bill of more than €1,600 calling a single mobile phone number in Pakistan, an unpublished Oireachtas memo has claimed.

Officials in Leinster House’s telecoms unit estimated that calls to a ‘very small number’ of foreign numbers were costing the taxpayer at least €14,000 per year.

Other costs included an estimated €1,249 bill for calling a mobile in Australia, €581 to a mobile in Lithuania, €381 to a Maltese mobile, €370 to a UK mobile, €366 to a South African landline and €331 to a landline in Cyprus. The officials admitted they were powerless to establish whether the expensive calls – made in 2010 – were legitimate as they don’t track who TDs and Senators call on their taxpayer-funded phones.

But the memo stated it was ‘difficult to imagine’ how they could be genuine. ‘It is difficult to imagine what Oireachtas business would give rise to calls costing €1,621 to a single Pakistani mobile phone number, and it would be irresponsible to consider the possibility that such calls might have been an unintended/improper use of the service provided. Without availabe data it is not possible to make any judgement on the matte……………

full article at source: http://thestory.ie/2013/01/23/who-ran-up-a-e1600-bill-ringing-a-single-mobile-number-in-pakistan-from-the-oireachtas/

Comment:

2013-01-04 13.00.15

Cuts, and more cuts to all community services and then we get another example of greed, emanating from our political establishment once again!

Our political puppets are living in a parallel universe where all their whims are cared for by the surfs’ in our Be- NAMA –republic. This is totally off the wall stuff, there is no justification for this kind of waste and it is imperative that the person or persons behind this phone call should be ousted, shamed and called to account .An audit of all “servants of the people” costs(Including phone calls) should be undertaken and strict limits must be enforced in accordance with the current economic conditions .This  leach must be made pay for his or her own phone bill and kicked off the political gravy train in Lenster house!

One can only dream! Some day we will rid ourselves of these self-serving cockroaches that have infested our once democratic political system!…..

We do not have to accept this, and we deserve better! The time has come to make a stand against the political puppets in Lenster house, which are nothing more than mouthpieces for the hidden moneymen who now rule our once independent Celtic Nation!

Proud Celtic nation of Ireland, get up off your knees and take back your soul.

Cast off  the chains that bind you to these gutless gangsters who dare call themselves out leaders!

Political pensions: The costs

Logo of the Oireachtas of Ireland

Logo of the Oireachtas of Ireland (Photo credit: Wikipedia)

Political pensions and lump sums for former TDs, Ministers and Senators have cost nearly €2 million every single month over the past year and a half.

An estimated €32.7 million has been spent by the Oireachtas and Department of Finance since January 2011 on pensions for former politicians. The cost includes more than €9.5 million paid in lump sums to the record number of public representatives who retired after the last election. A further €1.5 million was paid out in termination lump sums with another €3.24 million given out in ‘termination payments’.

In total, once-off payments came to €14.35 million with a further €12.68 million paid on actual ongoing pension payments. A detailed breakdown of expenditure, which was first obtained by the Irish Mail on Sunday, shows that €371,234 has been paid out by the Oireachtas every single week since January 2011.

Around €5.2 million has been paid out during the same period in Ministerial pensions with a further €515,540 paid out in ‘severance’ payments. When the Department of Finance payments are taken into account, the weekly cost to the taxpayer has been €449,757 over the past seventeen months

full article at source:http://thestory.ie/2012/06/21/political-pensions-the-costs/

Fine Gael called “LIARS”

English: Alan Shatter TD at a Fine Gael press ...

Image via Wikipedia

In terms of top prize for political incompetence in 2011, you’d be hard-pressed to find a better example than the farce that has surrounded the issue of Upward Only Rent Reviews (UORR) in commercial leases; remember both Labour and Fine Gael had promised to abolish UORR terms in existing commercial leases so that tenants would no longer have to pay rents which were set in better economic times, and particularly at the peak of the Celtic Tiger when commercial rents were twice today’s levels.

The commitment stymied the commercial property market where transactions dried up as neither buyer nor seller knew what rental terms would apply after the Government’s intervention. And Minister for Justice, Equality and Defence Alan Shatter issued frequent updates where he re-affirmed the commitment, and for many months the stock response to requests for updates from the justice ministry was that a bill would be brought before the Oireachtas before Christmas 2011. And a framework including detailed legislative provisions went to the Attorney General in October 2011.

full article at source: http://namawinelake.wordpress.com/2011/12/22/fine-gael-called-liars-in-metre-high-lettering-on-grafton-street-premises/

Comment:

I am not surprised this shower are only looking after the many landlords sitting in the Dail .

Rent supplements are keeping the property prices artificially high and I am surprised that the IMF hasn’t demanded that the government cut this subsidy to private landlords. Property prices are set to fall a lot further as this new penal tax on people’s homes will deter new owners and may even prompt others to sell out of the rental property business for good .I stated in a posting two years ago that we would see Dublin apartment prices come down to the mid thirties (thirty five thousand Euros) Well a friend of mine told me he sold a one bedroom apartment for 47,500 including a park space  two months ago and he is convinced that we will see apartments in the mid twenties in two years time .I would agree with him. I am currently living in Germany and I am renting a one bedroom apartment for 300 Euros a month and 100 extra for heating. I could buy this apartment for 42,500 and this would be in a similar area to D4 in Dublin! Around the corner there is a house with 3 bedrooms and I could buy this for 123,000 and I might get it for 115,000 if I had cash!

I cannot see any improvement in Ireland as long as we have incompetent political gangsters running the country we need a new revolution and cleaned all these public leaches out of the system a new political setup must be brought about centred on the needs of the ordinary citizen and not on the servants of the people as they call themselves. Cronyism must be stamped out.

I do believe that eventually the people will rise up but then even I will be surprised at the extent of the violent reaction against the political leaches that are now sucking the country dry and the collaborators, eager to serve the corrupt moneymen in Europe. The people will have their day they always do eventually  so Fine Gael you are been warned the day of reckoning is coming !

Some observations on NTMA & NAMA statements to the Oireachtas Committee

Oireachtas

Image via Wikipedia

Dr.Constantin Gurdgiev has posted a superb article on the statements issued by
NAMA and the NTMA to the Oireachtas committee last week I would highly
recommend that everybody  take the time and read it in full at source.

By Dr.Constantin Gurdgiev

 I was going over the statements issued by NTMA and NAMA to the Oireachtas
Committee last week and was struck by some rather interesting
bits…

Let’s start with the Statement by John Corrigan, Chief Executive
NTMA, to the Joint Committee on Finance, Public Expenditure and Reform, 9
September 2011:

“The banking stress tests carried out by the Central Bank
in the first quarter of 2011 quantified the additional capital support required
by the banking sector at €24 billion. The NTMA Banking Unit has worked very hard
to minimise the amount of this additional capital to be provided by the
taxpayer. Through initiatives like burden sharing with the junior bondholders
and the sourcing of private capital for Bank of Ireland, the net amount of this
capital provided by the State is now expected to be around €16.5 billion. The
savings generated can be redirected to funding the day-to-day operation of the
country.”
Can Mr Corrigan explain this: as of August 1, 2011, the State
has injected (under PCAR/PLAR allocations) €17.292bn (here)
according to DofF note. That €792mln difference is not exactly a
pittance…
Oh, and while we are on the issue of being accurate –
PCAR/PLAR capital allocations are designed to deliver capital & liquidity
cushions for the period 2011-2013. Not a trivial issue, mind you, especially
since Mr Corrigan repeatedly relies on PCAR/PLAR recapitalization exercise as a
definitive (aka permanent) line in the sand on banking crisis.
Now, as to the “savings can be redirected to funding the day-to-day operation of the
country” – that is pure rhetoric, sir, isn’t it? Mr Corrigan himself shows that it is.

Please read full article at source here: http://trueeconomics.blogspot.com/

Right To Work on Sept 14th at the Dail! 5:30pm – 7:30pm

The Dáil will return from its eight-week summer break this
afternoon for what is expected to be a busy autumn session. The Dáil and Seanad
will have plenty of other legislation to process. The Government is committed
under the terms of the deal with the IMF and EU to introduce a number of
substantial pieces of legislation. The Budget will be introduced at the start
of December and you can bet the poor and the unemployed will be hit hard while
these pampered lads and lasses will sit in the Dail and spout off with their obnoxious
platitudes as they pass even more severe austerity measures .If you really want
to have a say then come down and face these public leaches and give them some
of your mind

Machholz will be there will you???

the following was extracted from  Facebook :link here :https://www.facebook.com/home.php#!/event.php?eid=238410742863801

Joan Burton – Could you live on €188 a week?
Dole is not a ‘Lifestyle choice’
 The government is planning to cut spending on social welfare. It is taking orders from the IMF-EU and wants to make us suffer. The unemployed are being sacrificed to pay off the international bankers.
Joan Burton’s has claimed that unemployment is a ‘lifestyle choice’.
But this is a real insult to those who are looking for work. Very few of us have cho…sen to live on €188 euro a week. And the last thing we need is another Maggie Thatcher who is trying to turn us into scapegoats.
 The real spongers in this country are not to be found on the dole queues. We should instead be looking at bankers who have walked away with pensions of over €600,000 a year – after making a mess of the country.
THE START OF THE CUTS
 The Minister for ‘Social Protection’ Joan Burton has just announced a cut to fuel and household allowances. Struggling households of the elderly, carers, loan parents and the unemployed will be hard hit with this attack.
Joan Burton has also stated that if we refuse to accept places on schemes we will have our dole cut by 44 euro a week!
 The number of free units of electricity available per year will also be reduced from 2,400 to 1,800. On top of this the smokeless fuel allowance to 150,000 people living in major cities such as Dublin, Cork, Limerick and Tralee will be abolished.
WE NEED JOBS NOT INSULTS
 Blaming the unemployed for unemployment won’t create a single job and is a smokescreen to disguise what’s really going on: Unemployment is caused by the greed of the rich. Investment has dropped by 70% in the last two years. This has happened because people who made a fortune during the boom years are sitting on their cash and waiting for wages and welfare to drop.
This is the source of unemployment and no amount of punishment of the poor will rectify the situation.
ORGANISE
Burton’s attacks on the unemployment shows that she wants to cut social welfare again in the next budget. The only way to stop her is to organise and get on the streets in big protests.
 Across the Middle East, and in Greece and Spain, people are rising up and demanding their say in how society should be run. We need to do the same in Ireland.
 On September 14th, the Dail is opening after a long summer break. We, the unemployed should get out in their in our thousands to say:
• No More Cuts
• We want a public works schemes to give us jobs.
Join us in trying to bring the spirit of revolt to Ireland!

  Right To Work on Sept 14th at the Dail!

 Join the campaign text JOIN to 0872604143

Anglo execs still refusing to co-operate

By Emmet Oliver,
A group of former Anglo Irish Bank executives and other witnesses are still refusing to co-operate with the two-and-half year investigation into the bank, despite a fresh appeal by officers working for corporate watchdog head Paul Appleby.

The joint garda/Paul Appleby-led investigation team made a fresh appeal in May and June
— but people restated their refusal to co-operate through their lawyers, an affidavit reveals.

The investigation team wants to interview the group to shed light on a range of
events in 2008 when the bank was under severe market pressure, including the
warehousing of loans with other lenders and a deposit transaction between Anglo
and Irish Life & Permanent.

A senior garda attached to Mr Appleby’s office, Eamonn Keogh, has revealed that the fresh
appeal prompted a change of heart by some of the “reluctant
witnesses”. “A small number have since co-operated and made statements or have committed to making statements in the near future,” said his affidavit. “A definitive
response is outstanding from the remainder.”

Interviews

The investigation team had been trying to get interviews with some individuals for
more than a year, he added. Mr Appleby and his colleagues say they have no
powers to force people to give evidence. However, the High Court heard yesterday that new powers under the Criminal Justice Act could yet change this position. In certain circumstances, witnesses will have to co-operate under the terms of this bill which is making its way through the Oireachtas. The affidavit
was opened in court during an application by Mr Appleby for more time to
continue his probe. This request was granted by Mr Justice Peter Kelly, who
told the court special powers to seize material and activate warrants could
remain in place until early next year.

Mr Justice Kelly said the collapse of Anglo had “devastating consequences” and it was
not unreasonable for people to expect a thorough investigation into whether the
criminal law had been breached. The court also heard evidence from a legal representative of the Director of Public Prosecutions (DPP), who said it was not right to say “nothing” was
happening in the investigation.

The DPP was being kept fully appraised and had received a number of “modular”
reports. Barrister for the DPP, Una Ni Raifeartaigh, said it had been decided that all the various strands of the investigation should be finished rather than deciding on charges
on some segments. She said there was an overlap in witnesses between the
different strands and also other linkages.The investigation team is still hoping to finish up by the end of the year, the affidavit makes clear. However, this is subject to various provisos, the team made clear in evidence to Justice Kelly. Some of the
warehousing of loans — known as refinancing by the investigation team — was a
lot more extensive and complex than previously thought, said the affidavit.

This was a wholly unexpected development, it said, but the team was now getting a better
understanding of the transactions.

– Emmet Oliver,
Deputy Business Editor

source http://www.independent.ie/business/irish/anglo-execs-still-refusing-to-cooperate-with-probe-2833214.html

 

Comment:

This is outrageous
the government should enact emergency legislation immediately we are dealing
with a known corrupt bank  I cannot
understand why top managers and directors are allowed to get away with not supplying
the gardaí with the information they need .These people should be brought
before the courts and jailed why do we not have the names of these people
splashed across the newspapers Name and shame  these crooks. Anybody else would be in jail by
now. Who is protecting these people? What dirt have they on the politicians, who
are afraid to act against these gangsters? Allen Shatter what are you afraid of?

New Irish house price index launched by Central Statistics Office

 
By namawinelake

Tomorrow sees the launch of a much needed house price index by the Central Statistics Office (CSO). It is particularly welcome since the other leading actual price indicator, the Permanent TSB/ESRI quarterly index has not been published since 18th January, 2011 and its delay in publishing the quarter one index is particularly curious – the index has come in for some criticism on here because PTSB now has a very small share of the Irish mortgage market and the index excludes cash transactions. The index launched by the CSO tomorrow will also exclude cash transactions but at least it will be based on the eight main mortgage lenders in the State. The CSO says that it will also provide an indication of the total value of all property transactions (cash plus mortgage), presumably sourced from the Revenue (the tax authorities that collect stamp duty on property transactions and who keep records also of exempt property transactions). There will be an update here tomorrow when the actual index is unveiled. The index was announced on 28th April, 2011 and there is some background information here.
Going forward, the index may become the most cited index because it will be monthly, will be issued shortly after the reporting period, will cover most mortgage transactions and by providing information on the full market (cash + mortgage transactions) we should get a better sense of how prices are changing. Given that we have had an almighty boom and bust, price discovery is needed now more than ever.
What the index will not provide will be prices – we WON’T find out what the average price of a house or apartment is; we’ll just see how prices have changed since 2005 so the index might start at 100.0 in 2005 and might be 70.0 today. The index will help us understand how prices have moved.
Whilst tomorrow’s new index is to be welcomed, it is no substitute for the House Price Register – the latest on which is that the Property Services (Regulation) Bill which will give legislative effect to the Register was restored by the Oireachtas on 25th March 2011 but appears not to have been debated or worked on since.

source:http://wp.me/pNlCf-1oz

Comment:

Perhaps it’s my suspicions nature regarding all things financial, coming from the government .But don’t they have a vested interest in talking up the prices of property? This fact does immediately call into question the reliability of these figures?

(NAMA) today published its Quarterly Report and Accounts

The National Asset Management Agency (NAMA) has today published its Quarterly Report and Accounts [The Report] for the Third Quarter2010 [1st July to 30th September 2010]. The documents were laid before each House of the Oireachtas by the Minister for Finance earlier today.

see full report here  NAMAPublishesThirdQuarterReportandAccounts

comment:

It would appear that NAMA are now dealing in Derivatives

The question is where does NAMA get the expertise to deal with Derivatives?

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