Sinn Féin unveils economic recovery plan

Sully

Sinn Féin has published a 10-point plan which it says will prevent further job losses in the State and get the economy moving again.

It includes the creation of a €300m fund to subsidise workers in small and medium-sized enterprises.

The party says the school-leaving age should be raised to 17 and banks should be compelled to allow those on high-interest fixed mortgages to move to tracker ones without being penalised.

The party's Dublin MEP Mary Lou McDonald said the Government should subsidise people to stay in a job rather than allow them to leave the workforce.

Source:: http://breakingnews.ie/ireland/sinn-fein-unveils-economic-recovery-plan-409047.html

I cant seem to find any other reference to this, so I cant comment yet. Dont suppose somebody can gimme a decent link about this?

turgon

http://www.irishtimes.com/newspaper/breaking/2009/0501/breaking61.htm

Under the plan, workers made redundant will be allowed go to college and still get social welfare at the same time. I dont agree.

McCruiskeen

They can say what they like and do what they like.

No one intelligent is listening!

Permabear

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O'Coonassa

donegalfella wrote: »

This post has been deleted.

National Socialism day in the case of the Shinners.

Caoimhín

Banks compelled to allow people to change from a fixed interest mortgage to a variable without a charge?

I wonder would they compel the bookies to give me back the money i lost on the 5.30 at Punchestown?

eamonnm79

Caoimhín wrote: »

Banks compelled to allow people to change from a fixed interest mortgage to a variable without a charge?

I wonder would they compel the bookies to give me back the money i lost on the 5.30 at Punchestown?

I think thats a great idea. Its the least they can do since we are bailing them out.

Caoimhín

eamonnm79 wrote: »

I think thats a great idea. Its the least they can do since we are bailing them out.

The bookies or the banks?

I suppose it is a popular policy, it isnt the first time I have heard it rolled out by a politician looking for votes. In practice however it is nonsense.

Tech3

turgon wrote: »

http://www.irishtimes.com/newspaper/breaking/2009/0501/breaking61.htm

Under the plan, workers made redundant will be allowed go to college and still get social welfare at the same time. I dont agree.

Why? Getting retrained in FAS people get the welfare. If will encourage alot of redduntant people to retrain

Senna

eamonnm79 wrote: »

I think thats a great idea. Its the least they can do since we are bailing them out.

Oh great, so SF let people out of fixed rates that those people signed up for of their own free accord, resulting in the banks losing more money and the gov having to give them more cash. never mind voiding all contracts in one fail swoop.

SF have always pandered to the stupidest proportion of the country, who like hearing easy answers.

Bailouts for all, little republic flags for others.:rolleyes:

silverharp

eamonnm79 wrote: »

I think thats a great idea. Its the least they can do since we are bailing them out.

There is no "they",you are basically asking taxpayers with variable mortgages or no mortage to subsidise people with fixed mortgages. It makes no sense on any level

johnnyskeleton

Caoimhín wrote: »

Banks compelled to allow people to change from a fixed interest mortgage to a variable without a charge?

I wonder would they compel the bookies to give me back the money i lost on the 5.30 at Punchestown?

I thought it said move from fixed to tracker. How could they make such a schoolboy error, or are they proposing to force banks to reinstate trackers?

Banks compelled to allow those on high-interest fixed mortgages to move to tracker mortgages without facing penalties.

SkepticOne

Maybe they aren't aware that trackers have more or less disappeared from the market for new mortgages.

eamonnm79

silverharp wrote: »

There is no "they",you are basically asking taxpayers with variable mortgages or no mortage to subsidise people with fixed mortgages. It makes no sense on any level

I think it is disingenious to say that giving people fairer mortgage rates "makes no sence on any level" when that is exactly what is happening in the US.
All SF are suggesting is that if the banks are being bailed out by the tax payer then the banks need to stop ripping off some tax payers.
The banks are trying to move people on to fixed rates at the moment in Ireland because they know long term they can get more money from people.
Allowing banks to rip people off and loan them more than they can afford is a bad idea, or have we not learned anything?

eamonnm79

Senna wrote: »

Oh great, so SF let people out of fixed rates that those people signed up for of their own free accord, resulting in the banks losing more money and the gov having to give them more cash. never mind voiding all contracts in one fail swoop.

SF have always pandered to the stupidest proportion of the country, who like hearing easy answers.

Bailouts for all, little republic flags for others.:rolleyes:

And the arguements for nationalisation get even stronger.

dvpower

eamonnm79 wrote: »

I think it is disingenious to say that giving people fairer mortgage rates "makes no sence on any level" when that is exactly what is happening in the US.
All SF are suggesting is that if the banks are being bailed out by the tax payer then the banks need to stop ripping off some tax payers.
The banks are trying to move people on to fixed rates at the moment in Ireland because they know long term they can get more money from people.
Allowing banks to rip people off and loan them more than they can afford is a bad idea, or have we not learned anything?

The banks are not 'ripping off' fixed rate mortgage holders. People who bought these mortgages knew exactly what they were buying into. They wanted certainty about their repayments and they got, and still have, that.

I could just about support a policy of retaining (some element of) mortgage intererst relief for fixed rate mortgage holders since the government was citing the ECB rate reductions when introducing the 7 year limit, but afaik this isn't being proposed by SF.

thebman

eamonnm79 wrote: »

I think it is disingenious to say that giving people fairer mortgage rates "makes no sence on any level" when that is exactly what is happening in the US.
All SF are suggesting is that if the banks are being bailed out by the tax payer then the banks need to stop ripping off some tax payers.
The banks are trying to move people on to fixed rates at the moment in Ireland because they know long term they can get more money from people.
Allowing banks to rip people off and loan them more than they can afford is a bad idea, or have we not learned anything?

Exactly.

At the moment the banks are playing a dangerous game, they can't keep squeezing people or eventually people won't be able to pay anyway so might as well let them switch now or else they may not be able to keep up repayments.

dvpower

thebman wrote: »

Exactly.

At the moment the banks are playing a dangerous game, they can't keep squeezing people or eventually people won't be able to pay anyway so might as well let them switch now or else they may not be able to keep up repayments.

How are the banks squeezing fixed rate mortgage holders? They are getting exactly the same income from these customer than they were when they first took out these mortgages.

The government on the other hand could be accused of squeezing them by removing their interest relief. But, I would have to assume that the majority of fixed rate mortgage holders are in the early years of their mortgages and so are not subject to this.

eamonnm79

This country better get ready for a shed load of defaults from the general public!
Some cant afford to pay anymore but most people are just so pissed off. The social contract is breaking down.

I am genuinely worried about the outcome of this.
Its not going to be pretty.

Daithinski

Senna wrote: »

SF have always pandered to the stupidest proportion of the country, who like hearing easy answers.

Actually this has been Fianna Fails objective / modus operandi for the last 15 years. :P

Senna wrote: »

Bailouts for all, little republic flags for others.:rolleyes:

Again, Fianna Fail are all over this one.

Unfortunately the bailouts are for themselves and their golden circle buddies.

As for the "little republic flags", correct me if I'm wrong but does FF not promote itself as the "republican party"?