Ireland politics


#5950

How’d the other crowd win then? @mikehunt works as an estimator for BAM I’d say


#5951

Would you believe someone who came in at 20% lower than next best.


#5952

Do we really? Or is that just bred into us?

We need to have as much of a fair society as we can but I think we are miles away from that, mainly due to the corporations.

Take the vulture funds. They bought ‘distressed’ assets for 20% of the true value and we give them tax exemptions on the gain they make when they sell and on the income they earn from renting. A great Limerick man came up with that idea.


#5953

Well we are getting screwed by the next best, so could it be any worse?


#5954

It’s tax free.


#5955

NAMA was a great idea initially, it was to buy the assets and then hold them until prices recovered. Then all the apes in opposition made them change the mandate so it would be wound down as quickly as possible, a fire sale basically. Can you imagine we still held all those assets, the income stream alone off them would be in the billions and within a few years the banking debt could’ve been carried entirely by NAMA :sleepy::sleepy::sleepy::sleepy:


#5956

The builders aren’t the ones doing all the screwing. Costs shouldn’t soar by 400%. The tenders were obviously based on incomplete and inaccurate specs.


#5957

Really? I wasn’t aware of that. Was it not FG looking to access cash at any cost to fulfill the requirement of the Troika?


#5958

FG don’t sell off state assets at knockdown prices.


#5959

Wrong.


#5960

Basic tender process for something so large should exclude top and bottom bid, then ask each remaining to re-assess and submit a second view.
It does carry risk of increased contract cost but removes a whole pile of rework and removes the bottom-feeder.


#5961

Another reason it had to be appealed was how vague the decision was. We had to collect all the tax, and then other countries could come to us looking for their tax that we collected for them. Sure that’s a load of nonsense proposition, the details of what tax we collect and for whom would have to be pinned down before we could go about it at all.


#5962

Well we facilitated it in fairness.


#5963

Fake news. EY have been BAM’s auditors for a number of years.


#5964

Cusack Park is a very wide pitch.


#5965

It is.


#5966

Ennis that is, not Mullingar.


#5967

Multinationals employ 10% of the Irish workforce and those working for multinationals pay over 20% of the total income tax in Ireland. MNCs pay over 75% of total corporation tax in Ireland.

Yet you don’t think Ireland needs them. What’s your vision for Ireland, comely maidens dancing at the crossroads?


#5968

There’s two different points he’s mudding.

Non compliance with tax rules and state sponsored tax avoidance. I agree the Vulture Funds break was not thought out well but the Apple case is a load of ideological bull.

Irrespective of that though, the multinationals are extremely tax compliant. I thought the fella was supposed to be an accountant, the headline rate of tax is a pile of shit wherever you go. The people who regularly flout tax and company law in Ireland are invariably SMEs. Multinationals pay their tax and pay it on time. Mistakes are made all the time, that happens, but publically listed (multinational) companies are a relative paragon of virtue in actually following the rules they are supposed to.


#5969

Of course they are, they made up the rules.