Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Pinsters Stick it to the Irish Government, EU Ears Prick Up
PostPosted: Tue Oct 28, 2008 5:06 pm 
User avatar

Joined: Jan 1, 1970
Posts: 22680
After hundreds of contributors to website recently lodged complaints with the EU. The European Commission has now confirmed that it is to carry out further investigations under EU State Aid laws regarding the governments 'Home Choice Loans' scheme unveiled in Budget 2009.

Part of the complaint alleges that the scheme is a "Subsidisation Of Certain Residential Property Developers" and "Distorts" the market in favor of Big Developers carrying a heavy stock of unsold properties across the country at the expense of buyers and tens of thousands of existing sellers. Tom Parlon, Construction Industry Lobbyist is credited with successfully encouraging the Government to move on the matter. Thus the HFAs borrowing limit may be raised from 3.5billion to 6-10billion as mentioned by the Minister of Housing coupled with a number of controversial provisions that seem to favour all but those holding unsold new builds.

Such commitment of public finances in time of collapsing tax revenue puts the controversial numbers surrounding the medical card controversy into perspective. It reveals the massive extent of the irish government's appetite to dig out an already Tax incentivised and formerly profitable industry before looking after the public health.

The Commission reference for the case is "CEL - CP300/2008 - Housing Financing in Ireland".

More information can be found at this website address:

Follow The Pin -

"Politicians are always realistically maneuvering for the next election. They are obsolete as fundamental problem-solvers." - Buckminster Fuller

"I was comfortable with a couple of banks being married today, instead i wake up and find I'm married to the banks." - Catbear


Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

Who is online

Users browsing this forum: No registered users and 2 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster

Pyramid Built, Is Better Built! - Latest Property Discussions