New Minster Of Finance..?

Mr Minraise

Who would you like to see replace Brian Cowen as the next Minster for Finance?

It has been well reported that the next few years will be very testing for the Irish Economy. Many different factors such as the American/World economy going into recession,the ongoing banking turmoil and even the downturn in our own construction industry means that the new Minister will certainly have his/her work cut out.

I think we've been very lucky in the past decade or so with the likes of Cowen/McCreevy who i believe have managed the economy well even though it seems anybody would have looked good with bumper surpluses etc. year on year.

Although alot of the crucial monetary descions are out of the MOF hands nowadays there are still many tools at there disposal to make sure the Irish Economy stays afloat over the next few years. Its already starting to look quite bad as the Q1 returns show were already running a 600M deficet.

Micheal Martin, Willie O Dea and Dermot Ahern seem to be the names that are been thrown around at the moment.

From what i know Wille O Dea is a qualified account and has always wanted an economic portfolio but personally i wouldnt like to see him get the job. There is a few things going for him however as he is ment to be extremely close to Brian Cowen and it would be seen as good publicity for Limerick to get a proper Cabinet postion instead of a minior one like the Minister for Defence.

I dont think Micheal Martin would be much good either. Seems a solid enough guy but just doesnt cut it for me. He past record in different portfolois has inspired much confindence

My vote would go for Dermot Ahern, doesnt have much experince in terms of finance but would strike me as a quick learner. Hes done a super job in Foreign Affairs and is a very good leader from what i have seen in the past.

davej

As you said yourself, a lot of what's going on is out of the department's control. We're a bit like a cork bobbing about in the ocean.

I think there is a low to moderate chance of some serious financial crisis hitting one of Ireland's banks in the next while. So whomever is at the helm would need to deal with this effectively.

Other then that the minister is going to have a tough time apportioning the rapidly shrinking revenues to the various departments. Finance may end up replacing health as the poisoned chalice ministry.

davej

portomar

look at the proportion of tax from new housing (stamp duty in particular) that has gone on increased public service posts and pay in the last ten years, and tell me cowen/mc creevy did a good job. this is the opposite of sustainable, its hiring people on a revenue stream which was based on a housing bubble, and assuming we could aford to pay the wages of these civil servants in the future after our housing bubble burst. mark my words, this will become a massive issue in the next five to fifteen years... coz in case you haven't noticed, its a lot harder to sack civil servants than hire them.

back to the question from the OP, eamonn ryan or eamonn gilmore. possibly richard bruton.

nesf

Mr Minraise wrote: »

I dont think Micheal Martin would be much good either. Seems a solid enough guy but just doesnt cut it for me. He past record in different portfolois has inspired much confindence

He is very well liked in the political party though and the selection of Finance Minister/Táiniste does have to play to this to an extent. I don't see a "natural" financial man/woman for the post which makes it fairly interesting.