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MICHAEL NOONAN’S FIANNA Fáil counterpart has dismissed the Finance Minister’s plan to kick-start the commercial housing sector as “pre-election gimmick”.
As part of the Government’s Construction 2020 scheme, it’s planned a portion of mortgages for first-time buyers will be guaranteed by the State. It’s hoped the initiative will encourage banks to begin lending more.
Noonan said last night that the scheme would be for first time buyers and would be temporary in nature, adding “we’re working out the details of it between now and the Finance Bill”.
“I think it’s been cobbled together with ten days to go to an election where Fine Gael and Labour are certainly fearing a pretty savage backlash from the Irish people,” Fianna Fáil’s Michael McGrath told reporters this morning.
“I think the proposal that he has come up with doesn’t address the real problems the first time buyers are facing.
The main problem is the lack of adequate supply at certain locations around parts of Dublin and indeed other pockets around the country as well.
McGrath also took issue with the Finance Minister’s comment that first-time buyers were having to come up with “something like 20 per cent” of a home’s value before they would be granted a mortgage.
“The main banks are offering 90 per cent for first time buyers,” McGrath said, adding that he expected the measures to be significantly watered down by the time the Finance Bill is announced later this year.
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Best not to say how old you are. The government will probably find a way to demand more tax
@Marc Power: Agreed, They want us plebs to work until 70 while they swan off at 50 with numerous pensions and directorships.
@Marc Power: In fairness Marc they do need to know how many extra trolleys to order for our hospitals…………..
@David Huston:
Once again, since about 2011 a government minister cannot receive more than one pension related to the highest position they attained and not until they get to normal retirement age.
Directorships are a matter for a company and not paid for the taxpayer.
Maybe you didn’t know but it seems a lot of commenters throw out statements like yours, a flat out lie, in the hope it cons a few “plebs”
@P.J. Nolan: Enda Kenny’s pension pot would have cost a private sector worker €5.2 million. Excessive by any standards.
@Sean:
Agreed, his pension is related to his salary and that salary was too high.
might reach the 100-and get the cheque from the government.
@TheBluffmaster2: it would probably bounce frame it instead
@Jonathan Power: I’d frame it, Might be worth something in a thousand years all going well……
@Jonathan Power: well I don’t think Michael D will be giving it to me anyway.
While Nanny State says No Smoking! No Drinking! No Gambling! No Drugs! Just DIE as we can’t afford you to live beyond you’re TAXABLE Years.
@B.J.Elmes: No Gambling? No Drinking? What State do you live in?
healthy life years??? tbh there’s nothing healthy about society these days,,, you’ll have 120 year olds addicted to social media etc when the average human age reaches that, IF it does!!!
have your say