06/07/2010
NAMA Shortfall 'Unsurprising', Says SF
Reports that the National Assets Management Agency (NAMA) is not now expected to make anything like the profits predicted by the Dublin government are not surprising, Sinn Féin has claimed.
The party's Spokesperson on the Economy, TD Arthur Morgan, said it could in fact make considerable losses and said this was "deeply depressing for the taxpayer" but "unsurprising".
Deputy Morgan said: "Reports suggest that NAMA is not going to realise anything like the government predicted €4.8 billion in profits. Some reports even suggest it will make considerable losses.
"Anybody with half a brain could have and in fact did predict that being the case. The entire scheme made absolutely no sense whatsoever – unless of course you were a banking or developer crony of this prostituted government.
"While this news is deeply depressing for the taxpayer it is not surprising.
"Like every other utterance and madcap scheme from this economically illiterate and politically bankrupt government the NAMA project was doomed from the start." he fumed.
"Sinn Féin and others warned that this would be the case. But again because of a lethal mixture of ignorance and arrogance they forged ahead – ensuring their friends in high places were protected while the taxpayer was forced to pick up the bill.
"This government needs to be forced from office sooner rather than later. It needs to be removed so that we can minimise the damage that is being done to both the economy and, as a consequence, the social infrastructure of the state."
(BMcC/KMcA)
The party's Spokesperson on the Economy, TD Arthur Morgan, said it could in fact make considerable losses and said this was "deeply depressing for the taxpayer" but "unsurprising".
Deputy Morgan said: "Reports suggest that NAMA is not going to realise anything like the government predicted €4.8 billion in profits. Some reports even suggest it will make considerable losses.
"Anybody with half a brain could have and in fact did predict that being the case. The entire scheme made absolutely no sense whatsoever – unless of course you were a banking or developer crony of this prostituted government.
"While this news is deeply depressing for the taxpayer it is not surprising.
"Like every other utterance and madcap scheme from this economically illiterate and politically bankrupt government the NAMA project was doomed from the start." he fumed.
"Sinn Féin and others warned that this would be the case. But again because of a lethal mixture of ignorance and arrogance they forged ahead – ensuring their friends in high places were protected while the taxpayer was forced to pick up the bill.
"This government needs to be forced from office sooner rather than later. It needs to be removed so that we can minimise the damage that is being done to both the economy and, as a consequence, the social infrastructure of the state."
(BMcC/KMcA)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
01 August 2011
Cost Of New Homes In NI Falling
The cost of buying a new home in Northern Ireland has fallen by over 7% since last year. The latest NI Housing Bulletin, just published, said that with year-on comparisons the average selling price of National House Building Council (NHBC)-registered new houses sold was £157,300, a decrease of £13,100 (7.7%) on the same quarter in 2010.
Cost Of New Homes In NI Falling
The cost of buying a new home in Northern Ireland has fallen by over 7% since last year. The latest NI Housing Bulletin, just published, said that with year-on comparisons the average selling price of National House Building Council (NHBC)-registered new houses sold was £157,300, a decrease of £13,100 (7.7%) on the same quarter in 2010.
02 August 2002
NI Local Government Association holds first AGM
The first AGM of the new Northern Ireland Local Government Association has been held this week in Coleraine. Over 140 councillors from all shades of political opinion, and representing all 26 councils in Northern Ireland, met together with a common goal of working to enhance and develop local government in the province.
NI Local Government Association holds first AGM
The first AGM of the new Northern Ireland Local Government Association has been held this week in Coleraine. Over 140 councillors from all shades of political opinion, and representing all 26 councils in Northern Ireland, met together with a common goal of working to enhance and develop local government in the province.
17 May 2002
SDLP back move towards adoption of euro
The Finance Minister Dr Sean Farren has welcomed the strong indication that the Labour government may be moving closer to recommending entry into the Eurozone. Dr Farren said: “The SDLP has long been committed to the Euro and believes that Northern Ireland increasingly loses out the longer we remain outside the Eurozone.
SDLP back move towards adoption of euro
The Finance Minister Dr Sean Farren has welcomed the strong indication that the Labour government may be moving closer to recommending entry into the Eurozone. Dr Farren said: “The SDLP has long been committed to the Euro and believes that Northern Ireland increasingly loses out the longer we remain outside the Eurozone.
23 April 2002
Ryanair slams Irish government travel spend figures
According to Irish low-cost airline Ryanair, civil servants in the Republic of Ireland are squandering taxpayers money by spending less than 1 per cent of their budget travelling with Ryanair. Official statistics from Government Departments for the calendar year 2001 reveal that more than €4.
Ryanair slams Irish government travel spend figures
According to Irish low-cost airline Ryanair, civil servants in the Republic of Ireland are squandering taxpayers money by spending less than 1 per cent of their budget travelling with Ryanair. Official statistics from Government Departments for the calendar year 2001 reveal that more than €4.
23 April 2002
TASK Software to supply IT solutions to Blyth Council
Northern Ireland-based TASK Software has been selected by Anite Public Sector to supply its Contractor software for Blyth Valley Borough Council in Northumberland.
TASK Software to supply IT solutions to Blyth Council
Northern Ireland-based TASK Software has been selected by Anite Public Sector to supply its Contractor software for Blyth Valley Borough Council in Northumberland.
-
Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.