Why I will be voting Fine Gael!!

M

morpheus

Registered User
Messages
183
didnt know where to post this, but its a jewel if FG were able to pull it off. only thing is, by the time they get in govt houseprices will have risen beyond even their current figures.

[broken link removed]

Young people ‘exiled’ by house prices, say Fine Gael
20/06/2006 - 14:50:58


Fine Gael has said the rise in house prices during the reign of the present Government has left young people priced out of the market, mortgaged to the hilt or “exiled to commuter-land”, far from where they work or were brought up.
“This Government has completely failed to get to grips with the major problems in our housing market and first time buyers are paying for that failure,” said the party’s environment spokesman, Fergus O’Dowd TD.
He slammed as “abysmal” the Fianna Fáil and Progressive Democrat administration’s record on affordable housing, social housing waiting lists and stamp duty.
“I have a real fear that ‘Two Irelands’ are emerging, one containing property owners and the other containing those who have less and less of a chance of purchasing a home,” he said.

He outlined a Fine Gael three-point plan for first-time buyers which would abolish all stamp duty on properties valued at less than €400,000, introduce an SSIA-type saving scheme giving €1 for every €3 saved for a deposit and interest relief for the first seven years of mortgage payments.House prices in Ireland have risen by an average of 15% every year for the last decade, according to figures published today by the ESRI and Permanent TSB
 
Re: Why ill be voting Fine Gael!!

This does not actually address the problem as it is. Houses are too expensive. Giving people free money to buy things which are too expensive does not address the problem. In fact, recent - very recent - history reveals that reducing stamp duty liabilities for FTBs only means that what they would have paid to the exchequer goes to the seller instead.

As for the SSIA type saving, frankly it's appalling. Charlie was generous with his one euro for every four you save, but this is totally profligate in a way that I thought no one could imagine.

No way in hell will I vote for FG on the back of this. And - info - I'm a target of this idiotic policy being an FTB who is priced out of my local area. They need to target the prices. Increasing stamp duty would be more effective.
 
Re: Why ill be voting Fine Gael!!

Fine Gael's measures would only exacerbate the problem. What's needed is the removal of tax incentives for investors, but for this to happen we'd need a government.
 
Re: Why ill be voting Fine Gael!!

Abolishing stamp duty under €400k is only going to help those buying outside the capital. How will it help FTB in Dublin when prices are already approaching those levels? And I'm sure they will hike up SD rates for property above €400k to compensate - how will that help?
 
Re: Why ill be voting Fine Gael!!

Have to agree. They are just trying to buy votes. Nothing that they are putting forward will make houses more affordable. They are just suggesting putting more money into an already over heated property market. How are they going to pay for this? None of the parties have a clue what to do and they are enjoying the benefits of stamp duty too much to do proper structural reform. And anyway, Enda Kenny as taoiseach????
 
Re: Why ill be voting Fine Gael!!


The problem is an excess of liquidity, the solution is not to be found by pouring more liquidity on to the fire. Fine Gael would be wise to consider losing the next election, who ever is in power when the bubble pops will catch hell.
 
Re: Why ill be voting Fine Gael!!

I agree that raising stamp duty thresholds for FTBs won't fix the problem. Investors need to be hit with higher stamp duty rates. Maybe this would slow down the rise in house prices and give FTBs a chance to purchase.
 
Re: Why ill be voting Fine Gael!!

"The world is still deceived with ornament"
-Merchant of Venice. Shakesp.

An attempted clever political move as it gives the appearance of helping the poor FTB but it really panders to the property vested interests...
 
Re: Why ill be voting Fine Gael!!

It may seem that FG are trying to help FTBs but in actual fact it will only serve to ensure money flows in at the bottom of the ladder to prop up this market.It might help FTBs briefly if implemented until they are once again priced out. IMHO a correction in the market(soft or hard) will be the only the only way FTBs in the distant future(like myself) can hope to live anywhere within an hour radius of work. Besides i am sure the banks will come with more innovative products for us lemmings/FTBs.
 
Why I will not be voting Fine Gael!!

total hypocritical bull****. agree with other responses. All these measures would do is drive up the price of housing. giving people more money so they can borrow more and then pass it on to the developers.

I also think that it is interesting that Fine Gael councillers and TDs have been to the forefront of helping the developers block implementation of Part V of the 2000 Planning and Development Act in a large number of local authority areas. This measure would have gone a long way toward meeting the needs of first time buyers had it been enforced.
 
One of Fine Gaels wonderful policies before the last election was a scheme to compensate those who had purchased shares and seen them fall in value. Perhaps in the interest of consistency they should instead advocate an increase in CGT. This would also be more likely to help FTBs than finding ways to give more taxpayer money to developers
 
If the powers that want to be can't understand basic economics it doesn't bode well for the future of the economy if Fine Gael get into power. That said, I don't hold out much hope for us if Fianna Fail remain either (cue the inevitable giveaway budget this winter - shades of the late 70s). Sinn Fein are practically communists and the Greens want to wipe out whatever industry we have left.

Anyone got any suggestions as to who we should vote for?
 
I dont have an answer. but the price of land obviously has to be looked at. There should be no stamp duty on any FTB house regardless of price. If you set a ceiling all property under that ceiling moves up to it. the stamp duty on all houses under €500,000 should be lowered to 2% and thereafter rise very slowly so as not to have houses just sitting under the next band. ie when a house now croses a band it goes to the other end of the band almost automatically.
 
What we need is another Bacon report ! Anyone remember the last two ? I can't remember who was in power for each of them in the mid-late nineties.
 
If they abolish stamp duty for houses under e400K, will that not push house prices up. Developers arent stupid. Its all about affordability to them. If they think young couples can pay an extra few grand because they dont have to pay stamp duty, then they'll increase house prices accordingly.
I dont have great faith in any political parties but this seems to be trying to buy an election without any money!
 
As the learned parrot once said, "supply and demand, supply and demand".

Idiotic proposal, as pointed out above it will merely result in any houses (partic. in Dublin) under 400k shooting up to that level, just as happened with the introduction of the 317,500k threshold last year.

Clamping down on banks using dodgy lending practices would have a far more meaningful impact on house prices for FTB's.
 
What I’d like to know is how much FF are paying FG’s economic policy advisors?
I’d like to say that this is the most stupid policy that FG have come up with in ages, but it isn’t!
Bertie’s policy to win the next election of “We just have to look less stupid than the other guys”, seems to be working.
 
Re: Why ill be voting Fine Gael!!

Duplex said:
Fine Gael would be wise to consider losing the next election, who ever is in power when the bubble pops will catch hell.
Click to expand...

Agreed. Which is exactly what happened to FG/Lab in 1982-87 after the mess that Charlie created for them ignited and became worse.

As an FG member I am considering strategically voting FF to force them back into government where for once they will have to stand accountable, rather than having other parties to blame for the downturn.
 
Could someone please start the garden gnome party so we can all vote for them? Decisions still wouldn't be made (nothing new here), but at least we wouldn't have dangerous policies like the ones praised by the OP.
 
You must log in or register to reply here.
Menu
Log in
Register