From the previous government. There's been no more bank recapitalisation since this one was elected.
Ghandee wrote: » Still waiting in an answer as to why FG lied to the nation about being obliged to pay unsecured bondholders. Who, like FF before them, are they protecting?
Izzy Skint wrote: » if some pro taxer does wish to answer Ghandee's question, could you also attempt to answer another one....why have FF / FG / Lab also lied to us about the IMF / Troika "insisting" on the introduction of a property tax...it was our own politicians who proposed this and offered it to the troika as a potential revenue raiser ? .....Ghandee, I doubt there will be any takers...I wonder why ?
zerks wrote: » @ am chile,here's the leaflet I got.http://tnypic.net/833c9.jpghttp://tnypic.net/09785.jpg
Izzy Skint wrote: » if some pro taxer does wish to answer Ghandee's question, could you also attempt to answer another one....why have FF / FG / Lab also lied to us about the IMF / Troika "insisting" on the introduction of a property tax...it was our own politicians who proposed this and offered it to the troika as a potential revenue raiser ?
7. Ireland shall adopt the following measures during 2011, in line with specifications in the Memorandum of Understanding: (a) a 10 % pay reduction for new entrants to the public service. The Irish government shall also consider an appropriate adjustment, including in relation to the public service wage bill, to compensate for potential shortfalls from projected savings from administrative efficiencies and public service numbers reductions; (b) the adoption of a budget for 2012 including fiscal consolidation measures amounting to at least EUR 3,6 billion and aiming at a reduction of the general government deficit within the timeframe referred to in Article 3(3). The draft budget shall, in particular, include revenue measures to yield EUR 1,5 billion in a full year including, inter alia: a lowering of personal income tax bands and credits; a reduction in private pension tax relief; a reduction in general tax expenditure; a new property tax; a reform of capital gains tax and capital acquisitions tax; and, an increase in the carbon tax. The budget shall provide for a reduction of expenditure in 2012 of EUR 2,1 billion including social expenditure reductions; cuts in public sector employment; adjustments in public sector pensions and in other expenditure set out in the Programme; and reductions in capital expenditure; (c) the finalisation of an independent assessment of transfer of responsibility for water services provision from local authorities to a water utility, and preparation of proposals for implementation with a view to starting charging in 2012-2013;
We consider that as a matter of general principle all property should be subject to recurrent taxation – either through the local government commercial rates system or an annual tax on residential property, which we are proposing. Such an annual property tax should form a key part of broadening the overall tax base. We consider that an annual property tax (APT) should be implemented at the earliest possible date, taking account of the very significant administrative challenge for the Revenue Commissioners who will have to develop an assessment, collection and accounting system. In this context it is appropriate to move away from an undue reliance on stamp duty – where the tax revenues are contingent on the level and value of property transactions. There are significant benefits to moving to a more stable tax base, which provides for a reliable revenue stream and a sustainable source of Exchequer funding.
dvpower wrote: » What's the evidence for this?
Vladimir Kurtains wrote: » It's actually in the memorandum of understanding:
Vladimir Kurtains wrote: » The property tax was also proposed by the independent Commission on Taxation, which issued its report long before the EU/IMF memorandum was signed.
Ghandee wrote: » Sigh.... I'll ask again.Why did they lite to the Irish people when they told us they had to repay bondholders under orders from the troika? I feel like Vincent Browne here guys.
Ghandee wrote: » @Vlad. That's not insisting. The troika have now told independents they ate open to discussion on any other means of raising revenue. The govt lied to us. They lied.
dvpower wrote: » wtf has the bondholder repayments got to do with the question of who insisted on a property tax?
ilovesleep wrote: » What was in FG's manifesto in 2011. They were going to reduce the size of government. They were going to do this by reducing county counsils and counsellors. Well this is what's happening in Galway:http://www.galwaynews.ie/28364-major-change-electoral-areas-city-pipeline They are adding more counsillors.
The measures will reduce the number of councillors from over 1,600 to 950.
Ghandee wrote: » For Christs sakes DV man up and answer the question. You know well that the two things are related.
Ghandee wrote: » Maybe now you'll answer me? Why did FG lie that they were instructed not to burn the bondholders by the troika? I would like an answer, if you have not got one, just say so.
dvpower wrote: » No. Please explain how the question of who insisted we repay bondholders is related to the question of who introduced the idea of a property tax to the troika. You may be getting confused. I wasn't involved in that discussion with you at all. Anyway, I thought it was common knowledge that the ECB were insisting on bondholders being repaid - at least until Draghi took over. Is there someone saying that the ECB were never insisting on this?
dvpower wrote: » Perhaps you need to sleep less.http://www.rte.ie/news/2012/1016/phil-hogan-local-government-cabinet-politics.html
Ghandee wrote: » That's what we were told. The troika say the opposite though.http://www.stephendonnelly.ie/featured/so-i-met-the-troika-yesterday/
Vladimir Kurtains wrote: » So if I've got this straight, if we had a commitment to introduce a property tax in our agreement with the troika and the government told us about this agreement, because the troika now says that it would consider other similar measures, this means that we've been lied to all along? OK
''Stephen Donnelly TD @DonnellyStephen@sendboyle Who knows. Troika told us yesterday that payment of unguaranteed snr BHs in pillar banks was at insistence of Gov.''
