Above from left: Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin TD; Minister for Finance, Paschal Donohoe TD; and Minister for Public Expenditure and Reform, Michael McGrath at Dublin Castle earlier
This afternoon.
Minister for Public Expenditure and Reform Michael McGrath has has said the taxpayer will pay 70% of extra inflation costs on public building projects.
Via RTÉ News:
Mr McGrath said that the cost of transporting building materials are rising and there are also ongoing delays in delivering these materials.
He warned that some building work might never be finished if the State did not intervene to address soaring costs.
In the interests of safeguarding public building projects, a new framework will be drawn up to “share the financial burden” with the State to complete the works.
Under this scheme, the State will pay up to 70% of the additional costs caused by inflation.
The minister said that the cost of this intervention is likely to run to €30 million to €40m for the first three months of this year.
Good times.
Govt to pay 70% of inflation costs on public building projects (RTE)
and the rest!
other overruns, scope changes, legacy delay costs will also be slipped in under the radar.
Jesus so the taxpayer who is not going to get any benefit of these houses will be paying 70% of the extra cost
70% of some figure that is difficult to measure. you’re getting mugged
Mugged more like gang raped
Those builders sure have it sorted. 140,000€ was it that the State (sorry – you and I) are giving them per apartment too?
And up and up the house prices go, even after these boyos get their paws greased.
Odd we have so much money available these days, but didn’t have it up to now for housing. You’d swear that there was a Magic Money Tree growing in FFGr’s back garden.
Sorry, this is on top of €140,000 per unit…seriously? Are FF and FG just gutting the place before they get kicked out and laughing at us as they do it.
Yes, yes they are.
And the developers dumped their debts into NAMA
we have very short memories about them
Do we forget the incident of Jonny Rowan in cape town laughing his socks off in cape town pissed on Twitter during covid
The number of buildings full of pyrite the fire safety defects in developments that the developers that had suck the blood out of the taxpayer refused to rectify
Developers that emerged like superman
I say give them nothing then if they go bust the state can take them over at a fire sale price and finish them off
I am sure we can live without them in the meantime
What with the fact is we have been coping without them so far
Let’s face it a massive crash is on the way and as usual these developers will leave the taxpayer with the tab like the last crash as they slithered away
Buiders and religious orders coining it in at the expense of people who can’t afford a decent roof over their head.
It’s almost as if 2008 never happened.
2008 never happened to them
They just got richer
2008 allowed them to dump their debts on the Irish public
The rest of us not only were held to pay our own but theirs on top of it all
It was win win for banks developers and religious orders
What amazes me is the non secours sisters tortured and traded human flesh from their baby farms
They did not pay for their crimes and even better owns one of the most profitable private hospital group in the world making billions no doubt tax free
And that’s the tip of the iceberg
If these builders cannot conduct their business affairs then they go bankrupt
Then someone else can finish it off
The bould Rambo must be-most surprised
That a system which he had devised
Has been turned on its head
And we find that instead
Builder’s lifestyles are being subsidised
The whole fiat currency system will be run off a cliff, it wasn’t quite fatally-enough wounded by the Fake Pandemic to bring in the planned Great Reset, so they’re finding ever-better ways to destroy the currency, so it’s replacement, an EU-wide CBDC, can be imposed on us, along with the digital handcuffs it enables.
The last free generation is probably already born, if their megalomaniacal plans can’t be derailed.
On the worldwide stage, the Empire Of Lies is a busted flush, all over bar the shouting. As it receeds in the rearview mirror of the rest of the planet, all that matters is whether we can lay it on its deathbed without a planet-destroying nuclear strike against those who refuse to bend the knee to its avaricious late-stage capitalism & its delusional religious conversion to dogmatic Wokist insanities.
Either way, the answer to their invite to become serfs in their neo-feudalist dystopia, to get in the pod & eat the bugs, is No & when they try to enforce it, they’ll realise why the elites chose to corrupt Democracy rather than institute fascism. What a surprise it’ll be for the Oligarchs to see the world from the point of view of someone hanging upside down from a lamp-post. Eh?
The era of the billionaires is drawing to a close, they’re an extravagance the planet can no longer afford, with so many mouths to feed & their attempted global coup is the last straw. They thoroughly deserve what’s coming their way, degenerate scum that they are.
Anyway, the weather’s very changeable, isn’t it?
Cavan man I agree and what’s better we know exactly what’s going to happen when a crash happens
These developers last time in 2008
Remember that
We know the MO of them and the €250 billion pill the taxpayer had to swallow and the whole hand wringing the oh my god if only we did this did that saw this saw that we might of been able to protect the people from this
Well we now know exactly what these guys will do
Lots of cheap assets to be given away funded by the national finances to new vulture funds
I say let them swing and enjoy the rotten festering cadaver of their greed
Let’s face it we have lived without a new shiny maternity hospital and childrens hospital and all those new roads that people will not be using as they cannot afford the fuel in their cars
And no doubt those new electric cars that in their construction add on to the global emissions
We can live for a few years without a brand new car
It’s no big deal
The good news is that (can’t find the reference so no figures)a large majority of young people between the ages 18 – 25 in the EU do not trust the media preferring to navigate the web for news with less bias. Schwab, whose dad Eugne provided heavy equipment to the Nazi’s during WW2, may believe that we’ll own nothing, have no savings and will be under the full control of the elites, but I’ll bet the people will be revolting. Nothing is certain in this Brave New World. Already the digital currency has been trialed in some areas and countries with enticements. Word, just don’t use it. Ignore the inducements and threats. If enough of the worlds population doesn’t use the bankers digital control mechanism it can’t function as intended.
The dirt is there is people choose to look- but it usually hidden by smoke and mirrors.
Take the Canadian – Ukraine connections for example. Trudeau accuses the truckers of being ‘far right’ with the full knowledge that Canada accommodated a substantial number of Nazis after the second world war. The Canadian army is also responsible for training the Azov Nazis with a ‘don’t ask don’t tell’ excuse when challenged, on top of Freeland’s very interesting connections to Ukraine, and her own Nazi lineage.
It is no conindence that these are the sorts who are championing the WEF BS. It is the forth Reich and the hard of thinking cannot, or do not, want to see it.
I am not saying that it is right, but I think I understand why this knee-jerk reaction is happening. A couple of the building lobbyists probably informed the government indirectly that due to inflation costs with building supplies and what not members would in many cases be making a loss and projects were going to have to be suspended for the time being.
The government, civil service, et cetera champions mediocrity above all else, and focuses on box taking as opposed to long-term competence probably panicked and hastily put together this announcement keep the wagon wheels rolling in the larger economy.
There was probably very little long-term cost analysis done and it’s virtually guaranteed bought loads of other costs will be covered with this inflation payout.
I suspect that many of the politicians can see the writing on the wall and know that they are done for at the next election. They just want to see out the rest of their term in office without more chaos. They don’t really care about long-term costs.
It’s not really good for the country to have lots of government politicians that are already certain that they will be out at the next election regardless of what they do. They could go for broke and wreck the place before they leave, but it is what it is I guess.
And before people start saying that councils should just start building housing on their own…….. They don’t have the builders or the infrastructure to do that. Private building companies paid far in excess of what builders would get in the public service. If it came to it, I suspect that a lot of builders would do the same thing that they did 10 years ago and work for building companies overseas.
As someone said the other day it’s the last chance to rob the till before the election
Vile bodies.
they really just don’t know how to operate any other way do they? developers really have this government wrapped around their finger. it’s utterly pathetic. gov think they won’t build unless they keep giving them money. of course they’ll build! its what they do. theyre just constantly seeing how far they can push it, and the gov. seem to never stop accepting it and bending to it.
And they say the days of little Brown envelopes are gone
A real audit needs to be done by an independent auditor from outside this country and one would see how obscene the waste and let’s say corruption like a cancer eats away at our nation
I would love a week in a government department and with the limited intelligence that I have as in 1+1=2
The massive black holes would be found