Jim re: the part on housing and greenway development. Point well made on the positive impact of the Waterford Greenway in relation to spin-off businesses setting up etc. It would be great if there is a study on this - which could show the way for other Greenways planned in Galway, Kilkenny, Clare etc.
In relation to the current planning decision awaited in Dundrum and the importance of responsible development as you say (and I add the word sustainable in there as well), this illustrates the complexity of our property challenge in Ireland. The Dundrum plan involves over 800 apartments covering 1, 2 and maybe 3 beds - obviously there will be a demand, but there are key questions - what will the asking price be, will they all be for rent and what's the impact on the local Dundrum area in relation to parks, transport etc. There is a local group looking for a better balance between property and amenties but getting no airtime. One view on the challenges was discussed by Frank McDonald in Saturday's Irish Times (7th May) at https://www.irishtimes.com/opinion/frank-mcdonald-dundrum-scheme-s-overwhelming-scale-an-indictment-of-the-system-1.4871360. If the focus on property investment is solely to make profit with minimal attention to quality and a positive living experience in urban or rural life - the problem will continue irrspective of how many new units are build. My fear is that we don't have the required political leadership across any party to resolve this challenge. Thanks
Thanks Chris Jim for an interesting podcast. The section on the currency related news not making headlines due to other geopolitical news yet it has serious implications for inflation in Europe and thus impacting on interest rate increases. The other point on emerging markets/third world debt is also important as we know when nations have difficulty with paying back debt that can cause societal unrest and populist parties and terrorist organisations can seek to benefit.
Great podcast Jim and Chris. One important point to pick up on though is that Sinn Féin does not appear to have dropped the wealth tax proposal (it's right there on page 37 of their Alternative Budget 2022) unless they have announced something very recently which I've missed. It is listed along with a list of of other taxes designed to target higher earners, business people, employers and investors and owners of higher valued properties. Already our employment taxes and welfare system are the most redistributive in the EU but populists say they can put more taxes on higher earners and more taxes on wealth and capital. They claim that the result will be more revenue in the state's coffers. The assumption is that multinational company employees and managers, for example, are willing to stay here when their tax credits are reduced or removed. It is also assumed by Sinn Féin that those earning over €140,000 will be willing to put up with a 3% "solidarity tax" as well and no tax credits, wealth taxes, higher property taxes and higher employers' PRSI. Is it realistic to assume that Irish economic activity would not be negatively affected by these new taxes; that one of the most globalised countries in the world, benefitting enormously from high levels of multinational employment, taxation and spending, would not be negatively affected? SF's tax proposals are mad stuff in my view. Already, a taxpayer in Ireland earning €150,000 pays around €6,000 more tax each year than a worker in Britain or Northern Ireland on the same salary and over €25,000 more tax each year than a worker in the US. Would they all stay here to pay many thousands more under Sinn Féin. Economists need to look at what happens in other countries when these hard left governments take power.
Mark - you are absolutely correct. Don't know how I missed that wealth tax. It wasn't in the earlier stuff in that document - shows that it is always worth reading the whole thing twice!
Yes, you raise important points. I think there must be a special Laffer Curve for Ireland, one that is highly non-linear - people will accept tax up to a point but no further. And yes, the Shinners are pure populists.
Another varied piece … the stories re the currency changes & how the market and media have ignored them is actually quite staggering. It’s not that Ukraine is making all the headlines … it’s as if the media & markets just don’t want to acknowledge upcoming bad news!!
Thanks - yes, there is loads going on. Modern media doesn’t have much bandwidth - because it doesn’t have any money. You have to subscribe to specialist outlets like Bloomberg for proper reporting of this stuff.
The other problem with data centres is the location within the greater Dublin.
crazy giving over land in dublin for a giant hard drive and a hand full of workers with clip boards.
The old Jacobs plant on the Belgard road in tallaght being an example.Should of be rezoned residential 5 minutes from major shopping area and 10 minutes from M7/ M50.
Really enjoyable piece. An interesting podcast here suggesting an alternative reason why there is so much objection to change and proposing a different approach. Planning is adversarial and creates conflict as it is about for and against rather than being inclusive. https://www.bbc.co.uk/sounds/play/m0016xj2
Jim re: the part on housing and greenway development. Point well made on the positive impact of the Waterford Greenway in relation to spin-off businesses setting up etc. It would be great if there is a study on this - which could show the way for other Greenways planned in Galway, Kilkenny, Clare etc.
In relation to the current planning decision awaited in Dundrum and the importance of responsible development as you say (and I add the word sustainable in there as well), this illustrates the complexity of our property challenge in Ireland. The Dundrum plan involves over 800 apartments covering 1, 2 and maybe 3 beds - obviously there will be a demand, but there are key questions - what will the asking price be, will they all be for rent and what's the impact on the local Dundrum area in relation to parks, transport etc. There is a local group looking for a better balance between property and amenties but getting no airtime. One view on the challenges was discussed by Frank McDonald in Saturday's Irish Times (7th May) at https://www.irishtimes.com/opinion/frank-mcdonald-dundrum-scheme-s-overwhelming-scale-an-indictment-of-the-system-1.4871360. If the focus on property investment is solely to make profit with minimal attention to quality and a positive living experience in urban or rural life - the problem will continue irrspective of how many new units are build. My fear is that we don't have the required political leadership across any party to resolve this challenge. Thanks
Thanks Chris Jim for an interesting podcast. The section on the currency related news not making headlines due to other geopolitical news yet it has serious implications for inflation in Europe and thus impacting on interest rate increases. The other point on emerging markets/third world debt is also important as we know when nations have difficulty with paying back debt that can cause societal unrest and populist parties and terrorist organisations can seek to benefit.
Great podcast Jim and Chris. One important point to pick up on though is that Sinn Féin does not appear to have dropped the wealth tax proposal (it's right there on page 37 of their Alternative Budget 2022) unless they have announced something very recently which I've missed. It is listed along with a list of of other taxes designed to target higher earners, business people, employers and investors and owners of higher valued properties. Already our employment taxes and welfare system are the most redistributive in the EU but populists say they can put more taxes on higher earners and more taxes on wealth and capital. They claim that the result will be more revenue in the state's coffers. The assumption is that multinational company employees and managers, for example, are willing to stay here when their tax credits are reduced or removed. It is also assumed by Sinn Féin that those earning over €140,000 will be willing to put up with a 3% "solidarity tax" as well and no tax credits, wealth taxes, higher property taxes and higher employers' PRSI. Is it realistic to assume that Irish economic activity would not be negatively affected by these new taxes; that one of the most globalised countries in the world, benefitting enormously from high levels of multinational employment, taxation and spending, would not be negatively affected? SF's tax proposals are mad stuff in my view. Already, a taxpayer in Ireland earning €150,000 pays around €6,000 more tax each year than a worker in Britain or Northern Ireland on the same salary and over €25,000 more tax each year than a worker in the US. Would they all stay here to pay many thousands more under Sinn Féin. Economists need to look at what happens in other countries when these hard left governments take power.
Mark - you are absolutely correct. Don't know how I missed that wealth tax. It wasn't in the earlier stuff in that document - shows that it is always worth reading the whole thing twice!
Yes, you raise important points. I think there must be a special Laffer Curve for Ireland, one that is highly non-linear - people will accept tax up to a point but no further. And yes, the Shinners are pure populists.
Another varied piece … the stories re the currency changes & how the market and media have ignored them is actually quite staggering. It’s not that Ukraine is making all the headlines … it’s as if the media & markets just don’t want to acknowledge upcoming bad news!!
Thanks - yes, there is loads going on. Modern media doesn’t have much bandwidth - because it doesn’t have any money. You have to subscribe to specialist outlets like Bloomberg for proper reporting of this stuff.
The other problem with data centres is the location within the greater Dublin.
crazy giving over land in dublin for a giant hard drive and a hand full of workers with clip boards.
The old Jacobs plant on the Belgard road in tallaght being an example.Should of be rezoned residential 5 minutes from major shopping area and 10 minutes from M7/ M50.
Thanks Chris, excellent point.
Really enjoyable piece. An interesting podcast here suggesting an alternative reason why there is so much objection to change and proposing a different approach. Planning is adversarial and creates conflict as it is about for and against rather than being inclusive. https://www.bbc.co.uk/sounds/play/m0016xj2