NAMA to kick-start market

NAMA Chairman speaks on need to kick-start the property market, appeals for realism on all sides and warns NAMA will get tough on debtors.

Frank Daly, chairman of NAMA (National Assets Management Agency), said today the agency would aim to be “generating transactions at whatever prices buyers are currently willing to pay.”

In an address, at the launch of the Society of Chartered Surveyors Ireland, Mr Daly spoke of the need to get the market out of “its four year hiatus” and cautioned against sellers retaining unrealistic expectations of sale prices.

The Chairman advised that whilst the bulk of the decline in property prices has occurred residential property values would drop proportionately further.

He expressed concern at “upwards only rent review clauses”, currently common in Ireland and the UK, but warned that taking action against those already in place would leave NAMA open to further legal action from affected parties. Under an upwards only rent review clause the rent on commercial premises cannot decrease on review; it has been argued this creates artificial conditions in the market to tenants’ detriment.

NAMA are currently considering-  read the full article here ( http://bit.ly/f4cjOM )

Allegations of Bias in 2011 Census!

Prominent tweeter Darragh Lally alleges the results of the 2011 census will overstate the percentage of practicing Catholics in Ireland. Forms, issued to 2 million households across Ireland, were due to have been completed last night.

Central Statistics Office Director General Gerry O'Hanlon advised RTE that it is 'fundamentally important [to] have an accurate picture of our population'. Preliminary results are not expected to be known until July, with a detailed picture available next spring at the earliest.

Clear on the source of the anticipated inaccuracy Lally tweeted earlier today, “Another inaccurate, religious-heavy census result coming up thanks to Irish Mammies.”

Lally further advised his followers (read the full story here: http://bit.ly/eBtxat )

Adams hits out!

Sinn Fein president Gerry Adams hit back at Fianna Fail’s comments that he is a threat to the economy. ( http://bit.ly/e0HKoH )

“This is rich coming from the leader of Fianna Fáil and a man who was part of all the major decisions which have bankrupted the state and imposed a terrible crippling burden on citizens.” The party leader asserted in a press release today.

“Sinn Féin is focussed on fixing the mess Fianna Fáil has made of the economy.”

Adams, running for election in Louth, described Labour leader Eamon Gilmore’s contention that the election was now a 3 horse race as smacking of “arrogance,” adding Sinn Féin would not ally itself with another party.

Mr Adams announced Sinn Féin would oppose cuts introduced in the 2011 budget, “stand up to the IMF and EU” and “put an end to cronyism.”

Questions have been raised concerning Mr Adams’ grasp of economic matters, with journalist Sam Smyth of the Irish Independent labelling the party leader as a “financial dunderhead.”

The Belfast Telegraph report current poll results put Sinn Féin on course to win up to 22 seats in the next Dail. Millward Brown's most recent poll rated the party’s support at 13%, just 3% lower than Fianna Fail. Such a result would be a considerable victory for Sinn Féin, increasing their representation in the Dail by 17 Tds.

Adams’ own personal approval rating was at a respectable 31% in the Millward Brown poll, behind Micheal Martin’s score of 44%.

Article also published at http://www.theirishworld.com/

Political tug of war

Campaigning for General Election 2011 got underway today with Fianna Fail, Labour and Fine Gael all launching their campaigns. (http://bit.ly/e7QhO5)

Fianna Fail leader Micheal Martin cautioned against the possibility of “a tug of war government” should Fine Gael and Labour share power, highlighting alleged ideological differences between the potential coalition partners.

Martin disparaged Sinn Fein’s economic credentials and called for a “new kind of politics” in the run up to the election, a politics that’s “not about politicians, its about policies.”

The deputy for Cork South Central addressed Fine Gael’s plans to remodel national healthcare claiming the costs of such reform have thus far been hidden. Martin referred to the ongoing debates issue claiming Fine Gael leader Enda Kenny was “refusing to debate in any forum where we can have a serious discussion.”

Addressing Labour’s Pat Rabbitte’s comments on his new frontbench the Fianna Fail leader described them as dismissive of females in politics. As reported earlier this week on www.IrishWorld.com (http://bit.ly/gwfbf9) out of only 9 female candidates currently offered by the party, 4 hold frontline positions, equating to 44% of women selected having senior posts.

Fianna Fail is due to issue their completed election manifesto next Monday. The announcement is purported to contain a full economic blueprint for the future and is currently dubbed by the party as the “real plan.”

Labour’s Eamon Gilmore kick-started his party’s election at the Gravity bar in the Guinness Storehouse. Lambasting Fianna Fail and Fine Gael, the Td for Dun Laoghaire stressed clear differences between his party and their potential coalition partners Fine Gael, who were involved in “the politics of the past.”.

Labour plans no tax increases for those earning under €100,000 and would seek renegotiation of the EU/IMF bailout terms, their full manifesto is to be published tomorrow.

Deputy Gilmore spoke against government cuts proposed by Fine Gael and the tax increases he said were necessitated by Fianna Fail’s strategy. The party leader described the upcoming campaign as a 3-way contest.

Fine Gael’s Enda Kenny advised press his party’s main focus would be addressing the current employment crisis as he unveiled a 5-point plan to “get Ireland back working.” Mr Kenny repeated his promise to create 20,000 jobs per year up to and including 2014.

Fine Gael have been explicit about cutting funding to the public sector, Mr Kenny emphasised the need for a smaller and better public sector to avoid tax increases, including income and corporation tax..

A reduction of government size of 10% has been quoted by Fine Gael’s Enterprise and Jobs spokesperson Richard Bruton as essential to the party’s fiscal strategy.

Finance Spokesperson, Michael Noonan identified the reduction of the deficit as a central concern of Fine Gael’s election campaign. The party aim to balance the current budget by 2016.

A reform of health care has also been proposed to end what deputy Kenny has described as the “apartheid” of the current system. The projected reform is to involve a remodelling of current practice involving a form of universal health insurance.

Conflicting poll results released this morning advise of either a drop or an increase in support for Fine Gael since the weekend.

The Independent’s Millward Brown poll puts Fine Gael’s support at 30%, down from 34% at the weekend, whereas Red C give the party a more prosperous rating of 37%.

Millward Brown have the parties’ backing as follows: Fine Gael 30%, Labour 21%, Fianna Fail 16%, Sinn Fein 13%, independent candidates 15%, the Green Party 1%.

Rivals Red C, commissioned by Paddy Power, have Fine Gael up 4% at 37%, Labour drop 2% to 19%, Fianna Fáil rise 2% to 18%, and Sinn Féin slip 1% to 12%, the Green Party remain at 3% and Independents are down 4% to 11%

The Campaign continues. (Article also published at www.irishworld.com)

Questions over Sinn Fein funding

 News website challenges party’s claim Tds take home average industrial wage. (as published at http://www.theirishworld.com/ http://bit.ly/fYsRuz )

Newswhip.ie have raised questions regarding Sinn Fein Tds’ claims to donate the balance of their salary received over and above the average industrial wage to the party.

The average industrial wage is currently reckoned at €35, 620 pa, a Td earns a minimum of €92,672 and the maximum donation permitted per Td to a political party is €6,348.69.

Donations over €5,078.95 require a declaration to be made to the SIPO. Newswhip.ie allege the Standards In Public Office commission has not received any declaration from Sinn Fein regarding the apparently surplus funds.

Similar claims to only take home the average industrial wage have been made by leftist MEP Joe Higgins, the SIPO’s 2008 figures show he paid €6,348.69 to the Socialist party in equal monthly installments. 

Unlike Sinn Fein, Higgins has advised the scope of his donations goes beyond party services to causes he supports. Tds are free to donate to causes privately without involving the SIPO.

Speaking concerning 2009’s expenses scandal in the UK party leader Gerry Adams told press, “Sinn Féin MPs, like all party members who are paid a wage, receive exactly the same average industrial wage.”

Cowen’s swan song as Dail dissolved

Cowen leaves Áras an Uachtaráin as Dail formally dissolved; election expected 25^th February.

Brian Cowen’s swan song as Taoiseach took place in the Dail today. Mr Cowen told deputies he would seek Mary McAleese to dissolve the 30^th Dail this afternoon, with the 31^st due to sit as of noon on the 9^th March.

A general election is expected on the 25^th February.

Mr Cowen’s farewell speech to the house advised, “Ireland will prosper if responsible policies are pursued.” He claimed Ireland was consistently within the top 10 countries to invest in worldwide, citing IBM and Facebook as examples of profile investors brought to the country under Fianna Fail.

“It is not just the content that defines a political decision, but its context too,” said the departing Taoiseach, “Unpopular decisions had to be taken.”

In a nod to successor as Fianna Fail leader, Micheal Martin, the Taoiseach spoke of success achieved by the Irish government in Northern Ireland, particularly concerning the devolution of policing.

Mr Cowen praised the “new and renewed spirit of friendship and reconciliation” in the North.

Mr Cowen advised he had put the “interests of the people first and last.”

Enda Kenny took the floor immediately after Cowen and, in a nod to the ongoing debates issue, thanked the Ceann Comhairle for inviting “all of the leaders to speak.”

Mr Kenny informed the house he did not doubt Mr Cowen’s personal integrity, though Fianna Fail was described as “the worst government in living memory.”

“The collective governance of the last 13 and a half years would be held to account for driving Ireland into the arms of the IMF,” said deputy Kenny.

The Fine Gael leader told the house, “Anger, real and proper that it is, will not get Ireland back working.”

Deputy Kenny asserted that with cabinet ministers holding multiple responsibilities, “Government isn’t working.”

Kenny promised to “keep income taxes down” whilst ending “social apartheid” in the health service through a program of “universal health insurance” modelled on the Dutch system.

A ceiling on salaries, car pooling for ministers, cutting the number of politicians by a third and a single chamber Dail with strong committees were also proposed by Mr Kenny as, “if cuts are needed it starts at the top.”

Labour’s Eamon Gilmore spoke against Fianna Fail and Fine Gael for representing “the Celtic Tory consensus,”

Deputy Gilmore said Fianna Fail and Fine Gael both supported the “blanket bank guarantee” and were “both happy to back austerity.”

The party leader spoke about the need for change and reform in Irish politics claiming, “Labour is the party of work… Labour is the party of reform… Now is the time for change.”

Rte, the national broadcaster, noted Mr Gilmore used the word “change” some 20 times in his speech. The Td for Dun Laoghaire’s address was also scant on references to the departing Taoiseach.

Leader of the Green party John Gormley took the floor and, in a colourful address, praised developments in recognising civil partnerships and in establishing a central planning commission.

The creation of a new independent financial regulator and a new governor of the central bank were listed as among the coalition’s achievements, alongside investment in renewable energy and a cut in the number of junior ministers.

The thrust of the latter half of deputy Gormley’s address was a call for reform of politics in response to the sharp rise in emigration.

“Let’s be honest when you see young people emigrated in the 1950s and the 80s and are [emigrating] now; we ask ourselves has the electoral system served people well?”

The TD for Dublin South East called for a reduced Dail with 60 directly elected seats and 60 seats appointed from a party list system. Such a move would result in “more women participating in politics.”

Considering the prospect of a 31^st Dail led by a Fine Gael-Labour coalition, Mr Gormley counselled against a continuation of the “politics of old” calling Enda Kenny and Eamon Gilmore “tweedle-dumb and tweedle-dumber.”

Fine Gael’s Lucinda Creighton “had to breach litter laws” for allegedly put her election campaign posters up early, according to the party leader.

Mr Gormley further regretted the current government had not introduced a ban on corporate donations to “break the link between big businesses and political parties.”

Sinn Fein’s Caoimhghín Ó Caoláin spoke against the cut in the minimum wage, cuts to pensions and “disastrous decisions of the outgoing government” which were responsible for the “banking black hole.”

Deputy Ó Caoláin’s party stood “firm against the consensus of cuts” and the EU/IMF deal that was “not acceptable, not affordable and ruinous of the Irish economy and the Irish people… [having been negotiated] by a ruined government.”

The Td for Cavan-Monaghan indicated plans to improve infrastructure and public services through a politics based on “commitment and not careerism.”

It is understood Gerry Adams will represent Sinn Fein at any leader’s debates in the run up to the election

Ceann Comhairle Seamus Kirk closed the final proceedings of the 30^th Dail advising, “The dail now stands adjourned.”

President McAleese formally dissolved the Dail this afternoon

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Kenny vows to create 80,000 jobs

Fine Gael leader vows to create jobs, refuses to be drawn on debate issue. (as published at http://www.theirishworld.com/ - http://bit.ly/i75loO )

Enda Kenny has advised Fine Gael will create 20,000 jobs every year until 2014.

Mr Kenny backed the thrust of Fine Gael’s Finance spokesperson Michael Noonan’s comments during debate on the Finance bill; that economic stimulus would be created through welfare reform rather than tax increases.

The Press Association reported Mr Kenny aims to stimulate growth with 7 billion euro from state pension funds and through selling state assets to fund infrastructure projects.

The PA further adds that the Irish health service is to be reformed through modelling change on the Dutch system.

The cost of the public sector is to be reduced through streamlining quangos and reducing the number of politicians. Fine Gael has long advertised their desire to reform the Seanad; the party voted in 2009 for its abolition within a year should Kenny become Taoiseach.

Speaking to Rte the Fine Gael leader confirmed his plans to reverse the cut of the national minimum wage.

Fine Gael met last week with European Commission President Jose Barosso to seek a renegotiation of the EU/IMF deal, particularly regarding interest rates currently levied on the bailout funds.

Mr Kenny conceded regarding the EU/IMF deal, “there won’t be any great change because the IMF and the EU are monitoring this on a weekly basis,” though spoke against Micheal Martin’s alleged plans to increase the amount borrowed.

The deputy for Mayo advised that in order to change the EU/IMF terms Ireland requires “the cooperation of all 27 countries [in the EU] and that’s not going to be easy.”

The Herald.ie analysed Mr Kenny’s statement concerning female candidates for the Dail that “Obviously, we [FG] want to see as many as possible” and found the percentage of female candidates on Fine Gael’s list had actually dropped from 16.3% in 2007 to 15.5% in 2011.

6 out of 16 of the party’s female candidates for this years’ election are running in the Dublin area.

Despite Fine Gael fielding more female candidates for the 2011 vote the number of male candidates had increased at a higher rate. Labour were found to have the highest number of female candiates, with Fianna Fail, at just 9, having the fewest females going for office of the 3 main parties.

Out of the 9 female Fianna Fail candidates listed Micheal Martin named 4 in his revamped front bench on Monday, equating to 44% of women running for office occupying frontline posts.

Mr Kenny responded to questions put by Rte’s “The Week in Politics” implying he was scared of a 3 way debate, “I’d like the broadcasters to respond to my proposition for a 5 way leader debate after a scheduled series of front bench analysis of serious policy. This is not about 1 single debate.”

The Fine Gael leader refused to be drawn on the issue in the absence of a response to his counter proposal. The Labour premier, Eamon Gilmore, has publicly criticised Mr Kenny for not agreeing to Micheal Martin’s recent invitation to a 3-way leader’s debate. Prior to the 2007 election Mr Kenny was widely perceived as outperformed by then Taoiseach Bertie Ahern in a televised debate.