Ireland politics (Part 2)

[iron_mike]

Problem is, its ultimately the house buyer that will endvio forking it out

[flattythehurdler]

I think the insults were aimed foursquare at me, rather than my family tbh. It’s an emotive subject, and it’s easy on an anonymous internet forum to forget that people are directly affected. I never argued people involved shouldn’t be helped to rectify things fwiw, just called into question the opinion that this automatically falls upon the taxpayer. It seems to me that the buildings insurers need to have their feet held to the fire here, and that the primary fault lies with the manufacturer, who should be rinsed.

[TheUlteriorMotive]

It may well do but not necessarily in a linear way - would depend in time on how competitive a market there is.

[iron_mike]

@Massey

Nice backtrack there mate.I hope that mansion your planning on building in Galway doesn’t have any problems.Not everybody can get the wife to sign a cheque to pay for shit.

No need for that

[Gman]

Only got around to actually reading a report on this today. The figure put forward is actually 1.4bn, but for some reason this is getting an additional 1.8bn added onto it for no reason that I can see. They also say it might affect 6,600 homes, but that’s also not definite.

Taking that into account, let’s take both of their high figures, that equates to an average of €485k per unit.

That’s bollix. There are plenty of homes these days costing that to build, but it would not at all be the average. Particularly outside the m50 belt. I’d be more inclined to have an average cost 100k lower with is 0.6bn of a reduction, allowing for 6,600 units which also seems really high and inflated. Also, from viewing reports, it doesn’t seem like every single house needs complete demolition and rebuild. So why is the government and their media shills, inflating these costs way over what is realistic?

[croppy_boy]

@binkybarnes

A FF government facilitated a corrupt section of the construction industry to make huge profits on the back of consumers and the tax payer. A sadly familiar tale. @croppy_boy and people like him should not be expected to pay for this clusterfuck

FG, Labour and the Greens were all in power and had the chance to make a difference

The opposition also had their chance. It a cultural state failure as much as anything

[Massey]

@Gman

So why is the government and their media shills, inflating these costs way over what is realistic?

They’ve caught a right few fish on here too.

[TheUlteriorMotive]

The representative group said the 350k cap would not address needs of 40 per cent of those affected.

Truth is nobody knows how much it will cost and how many homes are affected.

There’s also question of where you find the Labour and resources to do the work on 6000 homes and build social housing etc.

It also seems cost to rebuild is more than value of houses.

It’s a mess and anybody would feel sympathy for those affected but paying for this will mean money not available for other services/projects. That will need to be balanced up.

[Massey]

@TheUlteriorMotive

but paying for this will mean money not available for other services/projects

But sure that’s not the homeowner fault

[TheUlteriorMotive]

It not being their fault is not really the issue.

Lots of people have claims for state funds and often very legitimate claims but there’s only so much to go around.

[fenwaypark]

With forecasts of double digit growth, how much would be raised by increasing the top rate of paye by 1 or 2 percent. Id have no objection to it being used to fund redress for those affected.

[Tank]

What I’ve picked up from this is buy non-Mica property in Donegal. In 20 years time it will be gold dust.

[TheUlteriorMotive]

The problem is nobody really knows what 100 per cent redress would cost. If it was 1bn or 2bn and that’s a final number that might be ok but what if the issue is much wider.

We’re going to need to raise taxes/money to pay for pensions, health service, social housing, costs of Covid, environmental issues.

You can’t just keep raising taxes either if you want to grow the economy.

[Ashman]

Will the double digit growth result in many more people earning higher income ??

[fenwaypark]

Raising top rate by one or two percent wont kill growth with forecast as they are.

[the_man_himself]

I’m no expert but I find it odd that the higher rate of tax begins at 35k or whatever in Ireland for a single person which is low and then there is no further tax rate on really high incomes

[fenwaypark]

I agree.

[TheUlteriorMotive]

Income tax system is most progressive in EU.

In 2016, the OECD ranked Irish personal taxation as the 2nd most progressive tax system in the OECD, with the top 10% of earners paying 60% of taxes.

https://www.esri.ie/news/irish-tax-system-does-most-in-europe-to-reduce-inequality

[fenwaypark]

Flesh that out? Our Paye receipts were very resilient during covid induced recession. This was because those sectors decimated were minimum wage dominated sectors. ICT, Pharma etc were immune from recession. See thread on changing career.

[the_man_himself]

Fair enough. I still think the cut off point should be higher though and this could be offset by a 50% rate on income over €100k or whatever