Minister for Housing, Local Government and Heritage, Darragh O’Brien (left) and Minister for Finance, Paschal Donohoe TD addressing media at Government Buildings yesterday
This morning.
The Dáil is set to vote today on a proposal to introduce a stamp duty charge of 10% on the purchase of ten or more houses under plans agreed by Cabinet last night.
Via RTÉ:
After more than two weeks of deliberations the Government has moved to change tax and planning laws to prevent big investors buying up housing estates.
The higher charge will also apply where someone acquires ten or more units on a cumulative basis over a 12-month period.
However, it will not apply to those bulk buying apartments, which is the focus for many in the Opposition already.
Dáil to vote on proposal to introduce 10% stamp duty on bulk buying (RTÉ)
Meanwhile…
Pointless. These vulture funds will simply change their company names. They have hundreds. Immediate loophole.
— str8updub (@str8updub) May 18, 2021
In fairness.
Meanwhile…
NEW: Leo Varadkar made what was described as a “bizarre” intervention at Cabinet last night
He questioned what making housing a “number one priority” meant and sought assurances that health, unemployment, climate and education would not be downgraded 👇👀 https://t.co/drDvuaYIpj
— Hugh O'Connell (@oconnellhugh) May 19, 2021
Vultures gonna vultch…
anybody drowning in the ocean of housing problems,
these lads have just handed you a water soluble life jacket.
Show some gratitude!
So does the fact that apartments are exempt mean the government doesnt even consider them a home
….they are pregnant with deals in the pipeline they can’t abort,they gonna own this,my take is it brings down this govt,there are thousands of brand new irish homes,just,just waiting get registered by their proud new offshore owners,no irish.
It was designed as a form cheap capital/finance for apartments-can’t retroactively change it now,too late.
What is a special purpose vehicle?
Oh one say that owns 11 houses,sells the units or shares thus avoiding this knee jerk,hot take tax bite.
Another two thousand brand new shiny irish homes,sold and gone to offshore funds,thanks FFG.
https://www.irishtimes.com/business/commercial-property/offers-for-prime-dublin-residential-rental-platform-surpass-1bn-1.4568373?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fcommercial-property%2Foffers-for-prime-dublin-residential-rental-platform-surpass-1bn-1.4568373
Michael O’Leary is right: Eamonn Ryan is an idiot
Big Business 1 Irish Citizen 0
wow, what a brazen pile of ****!! FG ideology in full flight here, make no mistake FG are in full control of this country, the ultimate Cuckoo!
like do FF actually exist anymore? who are they and what do they be doing during the day?? Do they have any idea what’s going to happen to them in the next GE?
I’m gonna stop using the shorthand FFG now, it’s just FG
amazing
“Like do FF actually exist anymore? who are they and what do they be doing during the day?? Do they have any idea what’s going to happen to them in the next GE? ” – agreed, how did FF walk into to this… total political suicide.
This is just not good enough
Spin off some subsidiarys to buy 9 houses each
Problem solved
Tis’ a fine housing system you have rigged for the wealthy there! F*** the people, they are just the numbers within it, they mean nothing.
How is it, so often the Irish Govt. displays utter contempt for the citizens with either their actions or inactions. Yet still the citizens keep going back for more of the same, so often they run this country in what can hardly be seen as the best interests of the citizens.
You would wonder does someone, somewhere have a hold or undue influence over them . Do they really believe their course is the best course for Ireland.
Why would you as a government set out to diminish your citizens ?
Answers on a postcard please.
It beggars belief, also anyone who voted FF after they ruined the country last time deserves this mess ”sure maybe they’ve learned from their mistakes and won’t fupp everything up again?”, slow clap for each and every one of those idiots.
FF should have been finished forever after what they did, this would have sent a message to the other parties to buck up their ideas, but no, they storm back and nothing changes, a continuous cycle of garbage, and the quality of the opposition is truly depressing too.
well int he past their pro-corporate way of governing has caused young people to emigrate in droves. Leaving behind the people who were unaffected, unintetested, and mindless.. all who still vote for them. This time the young are still here. Government did very little about this yesterday, as they know they need to get rid of the people who will vote them out. They’ll be hoping the housing problem gets worse, and these people leave, before election time. Its happened like clockwork time and time again.
Varadkar really trying to make himself relevant – not having much success.
you’re wrong or haven’t you noticed yet?
he’s so relevant he’s running the country. again. somehow.
FF & G are seemingly only there for today’s trough and the job security.
It’s an FG show. somehow.
After his leaking of confidential documents, what he gets up to or announces now makes him irrelevant. He’s a busted flush now. Anything he says nowadays can’t be taken seriously. He’s a liar. Out and out.
and in theory you may be right, everyone knows he’s a slimeball
but all that matters is what happens in practice….
and on that score it’s a FG show and Varadker is acting Taoiseach despite the job title…their ideas, their ideology, their design, their show.
FF only exist because they’re in a symbiotic relationship with FG and it’s one where they’re merely hosts with little or no control, in fact it seems to me that they’re weaker now than they were during that BS “confidence and supply” arrangement. The electorate and anyone who voted for them are being completely taken for a ride. They’re either lying about who they are or compromised by FG. It’s one or the other.
so bravo! FG (god help us all) ye’re somehow running the country again.
Unrelated to this story but an interesting watch nonetheless. Here’s Klaus Schwab in 2016 explaining how your future will involve a synthesis of the physical, biological and digital with implanted microchips in your body (for those left alive of course). All happening in this decade, yay! Yes, those conspiraloons are right once again. Bit surprised our media never cover this issue (not)
https://www.youtube.com/watch?v=dg6BlXuj8cM
P.S. I don’t want to say I told you so but the cyber pandemic and global supply chain ‘problem’ I predicted a few months back has begun. Enjoy your summer folks. This decade of global transformation has only just begun.
You should ask Bodger to give you your own column.
Don’t forget about the Gulls…we’re doomed…
In terms of housing, fundamentally, in terms of opening up, fundamentally, in terms of home ownership, fundamentally, fianna fail are the party of home ownership.
FF plan for housing:
At the heart of our housing policy is a belief that supporting home ownership, and home security, is good for families, for communities, and for society.
FG plan for housing:
Fine Gael is the party of home ownership.
Green Party housing policy specifically avoids any mention of increased home ownership, however they do aspire to:
include synergistic retrofit of vacant stock (particularly commercial, which could be retrofitted to residential), with many collateral benefits of reduced travel distances with favourable modal split
Summary: FF and FG are liars, nothing new there.
The Green Party are nuts, nothing new there.
synergistic retrofit, wtf?
FFG are clearly in the pockets of the private profiteers.
No one mentions how our right to vote is tied to housing. If people rent there are much more likely to be disenfranchised as oposed to home owners. The numbers voting goes down each election and this suits some parties especially in greater Dublin…
You are responsible for registering for your vote. If you can’t be bothered then tough luck.
There are two ways to do this:
#1 (current system) if you move house, you are responsible to update your registration information.
#2 (change) every time you move house, it is mandatory to inform some central government body, who will update the voting register.
It’s not difficult. http://www.checktheregister.ie
…the cupboards are bare Cain,the family sliver and all developable land is now owned by yank carpetbaggers,the class a offices all sold off by NAMA,what’s left to flog,the professional class NEED fee’s lots and lots of fat fees,now what..
let’s sell all the to be built irish homes….
Rob_G and Cian, your government needs you. Please step in to defend them. Really wanna see how creative you can get to make this one look good.
(O’Brien has sweet F all do with this mess,hence him stiff arming Pascal,who does….:)
They can’t just magic up thousands new irish home to offset it,this is just the start,its going get a lot,lot worse for Donohoe ,the maestro behind this half-baked scheme,facilitating the vast transfer tax efficiently,of irish wealth and assets to offshore funds,to whom irish citizens and the state will be paying rent forever.
when Donohue was second fiddle to Michael Noonan, he flapped enthusiastically beside him all through Noonan’s devising of this situation. Now he has to keep it going and defend those decisions as if they are in anyway good. FG love to call him Prudent Pascal, like its a stern attribute, but there’s nothing prudent about gifting millions of taxpayer money to vulture funds to outbid Irish people on housing.
The irony is it was too successful,it’s actually when targeted and focused correctly a great source cheap capital,they should simply designate areas desperately requiring investment,or ‘zones’ similar to oppprtunity zones in states, let the yanks go nuts in Limerick,they can own it all.
I hear there is a tsunami of these about land on FFG….and the very very wobbly Greens.
Thanks Johnny
Stellar input
Rory Hearne has a great piece in the journal today on this, worth a read if you’re interested.
https://jrnl.ie/5441281
Good article… although if you’re in a bad mood before reading you might want to pass and look at pictures of puppies instead… The various government folks out on the media today have just been ridiculous, and the apartment thing… what century are we living in… Anyway, I think even the Greens are looking for a way out as well as FG… will the government make it through the summer? Serious question….Personally I think it would be awful to have an election now – even if I’m not particularly fond of the current bunch – just in terms of the avoidable instability it will cause… but this latest housing stuff is basically as useful as nettles for toilet roll after a feed of Guinness and a bucket of curry.
Eoghan Murphy has surfaced in Armenia. The further away the better obviously.
https://www.independent.ie/irish-news/politics/former-housing-minister-eoghan-murphy-has-resurfaced-in-armenia-40445827.html
Good for him, I’d say. Not so much for the Armenians.