“will be able to devise innovative schemes..”

Given his recent speech to the annual conference of the Chartered Institute of Public Finance & Accountancy, and the “much tighter financial environment”, it’s not a surpise to hear the NI Executive’s Finance minister, the DUP’s Peter Robinson, talk of his hopes for “innovative schemes” to help the economy. Likewise it’s not a surprise to hear that he favours selling off state assets to raise capital for the new administration. None of which, in itself, is grounds for anything other than legitimate political debate.. But how long the current administration will remain unanimous on such decisions will be worth paying attention to..

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  • Nevin

    Perhaps we should keep an eye on cut-price sales to developers.

    I understand Coleraine Inst and Coleraine High are to merge in new premises on the Inst site. I’m sure developers are hoping to get a bargain when the Lodge Road site becomes available.

  • beardyboy

    Selling of the family silver springs to mind – let us face it – we cannot afford to keep ourselves

  • Nevin

    It could be bonanza time for developers, solicitors, estate agents and corruptable politicians and civil servants.

  • Balygobackwards

    “Selling of the family silver springs to mind – let us face it – we cannot afford to keep ourselves”

    You must have a very small mind. Workplace 2010 will allow the Northern Ireland Executive to dispose of assets which are a drain on resources and replace them with superior working spaces for our civil servants, whilst at the same time bringing in 1.2 bn to the Northern Ireland budget.

    It was carried with unanimous support because it makes perfect economic sense.

  • Shore Road Resident

    …until it goes wrong.

    I’m fairly sure that Balmoral High School made “perfect sense” as well.

  • willowfield

    Ballygobackwards

    How does it make sense to sell off assets and then rent them back? Do you think the new owners will be leasing them at a loss? No, I don’t think so!

    And after the term of the lease expires, the Government is in a weaker position to renegotiate.

  • idunnomeself

    Willowfield, my understanding is that PPP/ PFI schemes revert to the government once the term runs out.

    a bit like your mortgage

  • Jeremy

    Sale and lease back is fairly common in the business world.