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AIB HAS CUT its standard variable mortgage rate for customers.
The bank said that it was cutting its standard variable rate (SVR) by 0.25%.
It said that this would result in an annual repayment saving of €315 on a €200,000 mortgage over 25 years.
This is the fifth time the bank has cut its rates in the past three years.
“Our strategy, when conditions allow, is to pass on variable rate reductions to both new and existing customers and we continue to do that,” said managing director of retail and commercial banking in Ireland Robert Mulhall.
Therefore existing SVR customers will automatically benefit from these new variable rates. We have cut our rates over the last three years by 1.25% for SVR customers.
The bank also introduced a seven year fixed rate of 3.5% for mortgages.
The Irish government had owned 99.9% of AIB but recently sold off a large portion of its shares in the bank in June. The bank’s Initial Public Offering (IPO) put its value at €12 billion.
The state sold off 28.75% of its shares in AIB for €3.4 billion
Davy Stockbrokers said that the bank’s cut in its rates “marks a continuation of the competitive environment evident in the market for some time, albeit the magnitude (and so soon after the IPO) is earlier than expected”.
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This is what happens when you have a government more interested in using your taxes to prep our water for privatisation instead of fixing the major leaks in the system.
@The Risen: total neglect by government after government of investing taxes into the water infrastructure. Now when the system is on its knees they try push Irish water down our throats a total farcical quango set up for eventual privatisation of our water supply . I just hope the people of Ireland continue to fight it because it’s far from over
@The Risen: It’s in the 2040 plan that all the mains pipes are replaced. No, wait – that’s the sewage mains to help process all the sh*te we keep getting thrown at us from the SCU, sorry – Special Advisors.
@The Risen: From Irish Waters own website……
Why water shortages happen
We need regular rainfall throughout the year, especially during winter, to build up our water supplies. Water shortages are also caused by leaks, old pipes and poor infrastructure.
Long term rainfall decline puts pressure on water supplies
A short spell of dry weather doesn’t cause drought or shortages. Ireland has experienced low rainfall over the past 6 – 9 months. Last winter was very dry compared to other years. There is now less raw water available to treat and supply. This is putting pressure on water supplies in some areas.
A SHORT SPELL OF DRY WEATHER DOESN`T CAUSE DROUGHT OR SHORTAGES…..
The reason for the shortages is directly down to Irish Water not meeting thier targets of fixing pipes as has already been explained by experts, they will stop at nothing to implement charges,
It smells like a deal was already done when the Troika was in town, and they will use every dirty trick in the book to get it, someone, somewhere is expecting to be paid back for a deal that has been done in secret
@Pearse Mc Mullen: Does anyone here really think it was a dry winter?? just think about all that snow only 3 months ago………
They are lying through their teeth, but then again, do we really expect anything different from them??
@The Risen:
Why would a government hell bent on privatisation (in your opinion) pass a law in 2014 that states that a national vote is required if even 1% of Irish water were to be privatised?
Why is it that Irish Water are investing 5.5 billion during the period 2014-2021 upgrading the water infrastructure. This includes fixing leaks which they are already doing. https://www.water.ie/projects-plans/our-projects/ This is a 50% increase on the annual investment during the years 2004-2013
Why are you not researching anything you say?
@Tim Pot: One thing that can`t be said about The Risen, is that he doesn`t do research, all you do is regurgitate the same, tired old excuses on numerous articles, copy and paste, copy and paste,
again It is NOT Irish Water investing, it is the Irish people investing, Irish water HAS NO MONEY except what they take from the pockets of Irish people.
when will you learn to differentiate between the two?
@Tim Pot: PS, the Government didn`t pass the law, the whole Dáil did, Fine Gael were defeated in their motion.
Fine Gael didn`t have the numbers to push it through………..Why don`t you tell the truth on the subject??
@Pearse Mc Mullen:
I’m really sorry but it really is Irish Water that are investing 5.5 billion during the period 2014-2021 upgrading the water infrastructure.
#semantics
@Pearse Mc Mullen:
You are correct, FG did not have the numbers.
They were helped by FF and Labour and the Greens
@Pearse Mc Mullen:
“One thing that can`t be said about The Risen, is that he doesn`t do research”
Well this morning he was going on about a new reservoir in stillorgan that we could build for 80m.
The truth, is that the project he was referring to was to put a roof on an existing reservoir, to supply 2 days of water.
https://www.water.ie/projects-plans/stillorgan/
I still maintain he does not research what he says.
@Tim Pot: You talk about semantics, but yet you won`t acknowledge the fact that IW HAS NO MONEY to invest, apart from what they are given by the government , ergo – the Irish people,
why don`t you admit this once and for all. would it hurt you that much to tell the truth??
@Tim Pot: You are a Liar……..The Risen didn`t mention Stillorgan – you did……
The Risen
6m
13hours ago
@Jay Coleman: It will indeed cost billions to do a complete rebuild. But reservoirs can be built for €80 million, and the remaining hundreds of millions would have fixed a lot of the major leaks.
Ask yourself a simple question. Would our supply be in better shape today if the money wasted on meters had been used to fix leaks?
It’s not rocket science.
Tim Pot
11hours ago
@The Risen:
….actually for €80 million you can put a roof on-top of an existing reservoir, to supply ooh 2 days of fresh water.
https://www.water.ie/projects-plans/stillorgan/
I’m becoming really quite surprised why no-one seems to check any of the things you say as they seem to be completely false.
Please point out to me where the Risen said “Stillorgan”………..
I`ll wait patiently….
@Pearse Mc Mullen:
“€80 million for the new giant resevoir they are building in Sandyford that could have been started years ago”
http://www.thejournal.ie/dublin-hosepipe-ban-4103288-Jul2018/
Stillorgan reservoir is in Sandyford in case you don’t know.
Therefore I still conclude he presented false information because you cannot build a new (giant) reservoir for 80m, only a roof on an existing one.
@Pearse Mc Mullen:
How about
“IW invest money on behalf of the Irish people”
Can we agree on that?
@Tim Pot: how much of the 5.5billion went on water metres and every cost that came with them ??
@Hardly Normal:
477m was spent on water metres, the budget was 574.
That leaves about 5billion to spend on fixing leaks, upgrading water supplies ect….
They still use the meters mind you, now they just temporarily install them to find leaks and remove them again.
@Tim Pot: (1)Why would FG Government ignore the recommendations of both the Expert Commission on Water Oireachtas Committee and Oireachtas Committee on Future Funding of Water that there should be a Referendum re water which was part of recommendations voted for in the Dail?
(2)I’ve told you before that all the contracts, projects and schemes in place with the councils were transferred to IW including DBO contracts!
According to WSIP 2007-2009 there were 955 individual water and wastewater schemes at various stages of development with a value of €5.8B.: wastewater schemes=587 projects @estimated value of €3.2B
:water supply projects=301 projects at estimated value of €2.4B
: 67 projects including water conservation projects at estimated€0.2B
(3)Using your years 2004-2013 these are the real figures:
2004-2013:capital expenditure came to €8.651B averages out @€961.22m
2004-2013 operational expenditure came to €8568 averages out at €952.22m
Total spend on operational and capital expenditure on water services and infrastructure came to €17.219B
That IW €5.5B plan over 7 years averages at €785.22m !
So your assertion re 50% increase re 2004-2013 is completely wrong!
@The Risen: would you ever change the record
@Jayo Breathneach: why exactly would they crap themselves, them pipes are extremely easy to replace
The normalisation of Irish water continues unabated in the Journal & every news outlet mostly owned by that great pal of Michael Lowry – Uncle Denis. Irish people are being lied to constantly & sadly it seems to fool a lot of folks into thinking that the quango is a legitimate organisation. They are a billing company – without any actual customers. They have been provided with billions of our money by Fianna Gael ( taxes / private pension fund destroyed etc.to keep it afloat whilst the workers ( council staff) do work on their behalf. If Varadkar & co think that this is a done deal they’d better think again – privatisation of our most precious resource is not acceptable to the majority of Irish people & we will do whatever’s required if push comes to shove.
@Setrakian:
IW bill business customers for the use of water.
Also the 2014 water services act states that a national vote is required if even 1% of Irish water were to be privatised.
http://www.irishstatutebook.ie/eli/2014/act/44/enacted/en/print
Why are you making completely false claims?
@Tim Pot: please point out his false claim, if you can`t, then you are a liar
@Pearse Mc Mullen:
No problem, (although i thought it was already quite obvious)
@Setrakian: They are a billing company – without any actual customers
@Tim Pot: IW bill business customers for the use of water.
Conclusion: IW do have customers.
Would you agree with my assessment?
@Tim Pot: There are many things about water charges that Fine Gael/Labour would prefer you didn’t know. At the top of the list is this: Not one penny of the money they’re demanding you pay will be used to run, or to upgrade, the water system.
Fine Gael/Labour claim that the money’s needed to keep the water flowing but that isn’t true. The way they have set this thing up, the money isn’t being used to fund the water system – it is being used to fund the administration of billing for water.
Would you agree with this assessment?
They aren`t actually providing a service, the county councils across the island of Ireland are
http://stephendonnelly.ie/the-uncomfortable-truth-about-irish-water/
@Pearse Mc Mullen:
Your article is from 2015 talking about the water charges.
The water charges were stopped, did you not realise?
I do not agree with your assessment, the staff managing the water at the county councils now work for IW.
@Tim Pot: Show me one Irish water maintenance vehicle out fixing pipes? The councils still carry out such work. Dublin City Council still have their water division which fixes leaking pipes and unblocks drains in flood situations.. Irish water are a billing company with no customers
@Tim Pot: business customers indeed – who require water to make profits / run a business are customers to the billing quango but they are not the millions of us who are not and never will be the customers that IW refer to when issuing their edicts concerning a hosepipe ban. IW will not survive without compliance from private citizens who thankfully aren’t ignorant of the facts & will not pay on the treble for their water. That’s a fact.You are a misleading spoofer Tim & well you know it.
@Travis: Irish water use contractors to carry out the work
@Rosemarie F Martin: you won’t, Irish water employ sub contractors to carry out the work
Buses do not get dirty when the roads are dry apart from some dust. Like the Lord Mayor not washing his Volvo S90 it is not needed. Oh the drama.
@David Dickson: birds, knackers throwing stuff on a Friday night, etc. There’s also sand and dust on my car every morning blowing in from somewhere. Think about it as well, which is more likely to be light enough to blow around in a breeze. Heavy way clay / sand etc or light dry sand / clay
@Ronan Fahy: In this weather you can get sand blowing up from the Sahara.. Ever notice a rusty coloured sand on your car? That’s exactly what it is
Degrade the system so bad the FFG way to ensure privatization…
Very lucrative to be in the FFG circle..
@Willy Malone:
Well they really messed up in 2014 when they themselves passed a law which states that a national vote is required if even 1% of Irish water were to be privatised.
#waterconspiracy
@Tim Pot: Reading Tim. Seems I can’t find. Perhaps you can copy and paste to reassure people ..
http://www.irishstatutebook.ie/eli/2014/act/44/enacted/en/print
@Tim Pot: Can you show us all where that law is? I won’t hold my breath…
@Ian Walsh: Mr Malone above you was kind enough to share.
@Tim Pot: Perhaps you can’t copy and paste . I’ve produced the 2014 water act for you. Do have a read and maybe you can paste here what your talking about.
Or are you a spoofer troll of ffg …
@Willy Malone: Hi Willy.
You will find the information on section 2.
The law essentially states that a national vote is required if even 1% of Irish water were to be privatised.
Plebiscite on ownership of Irish Water
2. (1) A Bill providing or allowing for the alienation of any share or shares in Irish Water to a person other than a Minister of the Government shall not be initiated by or on behalf of a Minister of the Government in either House of the Oireachtas unless—
(a) a Resolution of each such House is passed approving a proposal to provide or allow for such alienation,
(b) a proposal to provide or allow for such alienation is submitted by Plebiscite for the decision of the People, and
(c) a majority of the votes cast in such Plebiscite shall have been cast in favour of the proposal.
@Tim Pot: I’ve attached section 2 Tim. Please show me this 1% again , you go on about. Spoofing Tim …
Plebiscite on ownership of Irish Water
2. (1) A Bill providing or allowing for the alienation of any share or shares in Irish Water to a person other than a Minister of the Government shall not be initiated by or on behalf of a Minister of the Government in either House of the Oireachtas unless—
(a) a Resolution of each such House is passed approving a proposal to provide or allow for such alienation,
(b) a proposal to provide or allow for such alienation is submitted by Plebiscite for the decision of the People, and
(c) a majority of the votes cast in such Plebiscite shall have been cast in favour of the proposal.
(2) Whenever Resolutions are passed by both Houses of the Oireachtas in respect of the proposal referred to in subsection (1), the Minister may by order appoint the day upon which and during which the poll at the Plebiscite on the proposal shall be held.
(3) An order under subsection (2) shall be published in the Iris Oifigiúil.
(4) On such Resolutions being passed by both Houses of the Oireachtas, the Clerk of the Dáil shall immediately inform the Minister accordingly.
(5) A person who has the right to vote at a referendum on a proposal for an amendment of the Constitution shall have the right to vote in the Plebiscite.
(6) The Plebiscite shall—
(a) put a proposal for a decision of those persons entitled to vote in the Plebiscite as to whether the Government may, if it wishes to, cause the initiation of legislation as referred to in subsection (1), and
(b) be held in accordance with regulations made by the Minister providing for the holding of the Plebiscite and for other requirements and arrangements that will apply in relation to the Plebiscite.
(7) The Minister shall publish details of the proposal and the reasons for it to be submitted to the people in the Plebiscite not later than 30 days before the day fixed as the polling day for the Plebiscite.
(8) In this section “Plebiscite” means the Plebiscite to which subsection (1)(b) refers.
@Willy Malone: A plebiscite doesn’t enshrine public ownership of our water services and infrastructure etc into the Constitution,a Referendum would!
More free water for the FFFGLAB Companies but hose pipe bans for the little guy.
Always Remember and Never Forget those who seek to covet your children’s water!
No Votes for Pro Irish Water party’s, not even a 10th choice!
Hogan got in on the 13th Count and Kelly scraped through on the final count.
Roll on #GE2018 lets make enshrining the public ownership of our natural resources into our constitution an election issue!
The Vultures have had enough free dinners from this cadaver!
@Jarlath Murphy:
…..or you could read the 2014 water services act where it states that a national vote is required if even 1% of Irish water were to be privatised….
http://www.irishstatutebook.ie/eli/2014/act/44/enacted/en/print
@Tim Pot: I think the vast majority will judge Fine Gael, Fianna Fáil and labour on their actions over the last few years, than anything they put in print, they have all proven they can`t be trusted
@Pearse Mc Mullen:
Its Law…
@Tim Pot: It has never stopped them before….Didn`t Fine gael also say there was no need for a referendum on the ownership of Irish Water as no Minister would use their powers to make it so, even though it was pointed out that it was a distinct possibility that it theoretically happen at the stroke of a pen, just like they refused to renew our clause in Europe to avoid charging for water,
Remember when Alan Kelly ( i think it was him) let it lapse instead of renewing it?
They are not to be trusted, and you know it….
@Tim Pot:
As Pat Rabbitte the great ‘Socialist’ remarked during the water campaign:
‘If at some future point the economy collapses again and the government needs cash then all that’s required for privatisation is the stroke of a ministerial pen’
When it comes to our water supply no government minister can be trusted.
@Charlie Hunter:
“all that’s required for privatisation is the stroke of a ministerial pen”
-and for the people of ireland to say yes to privatisation in a national vote.
http://www.irishstatutebook.ie/eli/2014/act/44/enacted/en/print
@Tim Pot: Read the WHOLE thing and tell me it’s law. Who are the domestic “customers” the law speaks of? There are none. The people have rejected it. It’s invalid. The end.
@Tim Pot:
Ahh Tin Pot Alan will you stop being a sad pathetic toady for Irish Water?
@Ian Walsh:
Its law. It was passed by the dáil, its law!
“customer”, “local authority”, “occupier”, “premises” and “property” have the meanings assigned to each of them, respectively, in section 2 of the No. 2 Act of 2013;
section 2 of the No. 2 Act of 2013
“customer” means, in relation to the provision of water services, the occupier of the premises in respect of which the water services are provided;
Hope that clears up your confusion.
@Jarlath Murphy: always nice to receive a compliment.
@Tim Pot:
That’s OK I’m sure you will be well rewarded while your fellow citizens go thirsty, take some more Laughing Yoga classes while the huddled masses gaze skyward with mouths agape waiting on the next rain shower.
@Jarlath Murphy: well said, lots of FG stooges posting here just bitter that the IW gravy train is not up and running
@Jarlath Murphy: how will the citizens go thirsty. we already know that Irish water CANT turn your supply off if you don’t pay. So explain how we’ll go thirsty?
@Tim Pot: The legislation was guillotined through the Dail as you know and not only were our previous rights as water services users abolished but also our access to our previous Ombudsman.Why?
Also IW is a private registered company,a private LTD company at the time which has since changed to a DAC company which has control of our water services and according to them own water infrastructure assets worth €11B.Look up “debantures”!Why?
Plus IW despite being funded by taxation and €11B of water infrastructure assets transferred to it is NOT under jurisdiction of C&AG or PAC.Why?
Eurostat said “privatisation is envisaged”.What gave them that impression?
Why can’t they do this all the time? “We’ll only clean when required”.. so you know you were wasting water before?
Water is precious, treat it with respect and don’t waste it.
@ED: My thoughts exactly.
The Past 10 years have been Ireland’s wettest in 300. A few weeks of sunshine and the taps are turned off. How can continuous governments get away with outright negligence in almost every area of influence?
Yet another proud moment.
Filled up my Lidl outdoor pool today!
@Herbert: you go girl !
@Herbert: Cover it up, if the Irish Water drones don’t get it the seagulls will.
@Herbert: Is it a big lidl pool or a lidl big pool ??
People need to use common sense. God knows this weather won’t last forever.
Hilarious.
People giving out yards on Joe Duffy about a contractor with a prior contract using a wet rag to clean the Papal Cross and now it turns out the Commies in Dublin City Council are wasting water on buses, streets and watering the bushes.
@Charlie Hunter: I’m trying to retain fluid otherwise I could pee myself laughing. They could run the official cars through the petrol station car wash but we wouldn’t know.
Canal water???
The streets will be stinking.
Painting is not cosmetic. It is essential maintenance
@Bernie Roche: that depends really and in most cases wouldn’t it not be needed anyway given the current weather?
People still using garage car washes. The owners of garages should be asked to shut them down. Children cannot use paddling pools but cars can be washed! Something wrong there.
Dublin, Dublin, Dublin…..
No need to wash buses or trains is there?
For thw past few years the U.S. has been filling reservoirs with black rubber balls to reflect sunlight and reduce evaporation irish water on the other hand feed off of draught situations because it promotes the idea of scarcity which adds cost to service providers hence they want more money or claim this would justify water charges . Scrap irish water completely that’s the solution
Lads, will ye give over with the constant mention of the fake company IW everyday? Cheers.
Put IW into public ownership. charge a fee and use it to help finance the health service. because government will sell it in the next recession and the profits will go into private pockets of FG/FF cronies
Busses are filthy most of the time one cannot see through the windows so why the panic to wash them now when there is a shortage of water?
Water restrictions? so yee can wash the ground and wash the busses? Gway ta f**k..
have your say