Economy – Page 52 – Slugger O'Toole

“I think that’s the reason our costs are high..”

Pete Baker on May 20, 2009, 12:12 am

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On Stormont Live yesterday, the Northern Ireland deputy First Minister, Sinn Féin’s Martin McGuinness, put forward a typically combative defence of his, and each of the SF MP’s, less than transparent claims for the equivalent to an “average industrial wage” from the MPs’ second homes allowance. But it’s worth paying close attention to what he actually says. For example, despite his claim, Sinn Féin are not “denied” the Communications Allowance. Like a number of other MPs [pdf file], they have …

Are the Greens getting the jitters?

Pete Baker on May 18, 2009, 9:36 pm

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On Stormont Live today, BBC NI’s Dublin correspondent Shane Harrison reported back from the European, and local, elections campaign trails in Ireland, pointed out the difference between there and here, and commented on Sinn Féin’s chances. Pete Baker

Coincidence of the week..

Pete Baker on May 18, 2009, 1:00 pm

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According to this online UK income tax calculator, in the tax year 2008/9 the gross sum of £21,600, claimed by all 5 Sinn Féin MPs on their Additional Costs Allowance, equated to a net weekly salary of £356 after tax [£355.52]. Or, as the Sinn Féin president Gerry Adams described it, “the same average industrial wage”. Pete Baker

Sinn Féin’s “disclosure” of figures already in public domain

Pete Baker on May 15, 2009, 11:26 pm

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Without pre-empting Mick’s thoughts on Sinn Féin’s statement “in the interests of full disclosure” there are a few points worth noting. Firstly the amounts of money involved are already known or would be published anyway – the figures [for all MPs] going back to 2004 are online here. And a number of MPs do not avail of the recently introduced Communications Allowance including some, but not all, DUP MPs. Here the pdf of last year’s allowances claimed.What the SF statement …

“So who will ultimately own the building?”

Pete Baker on May 13, 2009, 5:27 pm

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Some MPs are apparently eager to repay their excessive expenses claims despite the fact that those claims were within the rules. As Nick Robinson notes, Ann Widddecombe has coined it the “my shirt is hairier than yours” competition. Well, politics does cost money.. Meanwhile in the Belfast Telegraph David Gordon has some “stupid” questions about the DUP’s property asset in Ballymena – being paid for from public funds. From David Gordon’s report Here’s a nagging question over the rental sums …

“All of these discussions have to be approved by the Treasury”

Pete Baker on May 12, 2009, 7:19 pm

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Ulster Bank economist Richard Ramsey is warning of increasing pressure on Northern Ireland public sector spending in the years ahead – as he’s done before. Meanwhile, on yesterday’s Stormont Live the Chairman of the NI Assembly Regional Development Committee, the UUP’s Fred Cobain, whilst keen to register his opposition to new water charges, for what that’s worth, raised some important questions about the manner in which NI Regional Development Minister, Sinn Féin’s Conor Murphy, had publicised a proposal to defer …

“content that the consultation process has now been as comprehensive as possible”

Pete Baker on May 12, 2009, 3:53 pm

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After the earlier kerfuffle about the introduction of higher Translink fares, confirmation today that bus and rail fares in Northern Ireland are to “increase by up to 3%”. But are the increases really that different to those initially reported? Northern Ireland Regional Development Minister, Sinn Féin’s Conor Murphy, “Over recent weeks the Consumer Council and Translink have met,” [Conor Murphy] said. “I am informed that these discussions have been productive and that as a result, a number of changes to …

Two new arrests in Northen Bank cash laundering investigation

Pete Baker on May 12, 2009, 3:03 pm

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With Cork-based money lender Ted Cunningham, and son, convicted and sentenced for laundering cash from the December 2004 Northern Bank robbery, it’s reported that there have been two new arrests in Operation Phoenix. From the RTÉ report. Last night, detectives involved in Operation Phoenix arrested two men in Cork. Both are prominent republicans and one in particular is said to have been active at a senior level in Sinn Féin in Munster. Iol report names the two men as former …

“Well, politics costs money.”

Pete Baker on May 12, 2009, 2:59 am

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No, not directly related to the MPs’ expenses story.. Newshound noted an interesting report in Roll Call which claims that “Sinn Fein has raked in more than $10 million from U.S.-based donors since it first legally passed the collection plate here nearly 15 years ago.” Over those years that funding could be legally channelled into the party in Northern Ireland, but not into Ireland – as the report also notes, since 1995, “Sinn Fein has held fundraisers regularly in New …

“They think we’ve all got our noses in the trough..”

Pete Baker on May 10, 2009, 6:36 pm

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On the Politics Show Northern Ireland Secretary of State, Shaun Woodward, MP, put forward a reasonable defence of his own expenses claims and of the principle behind the system of payments – although others will have to answer for themselves. He also identifies the real damage being done to the body politic and the need for reform there and here. But his defence of Sinn Féin MPs over the possible NI exemption clause – “[Sinn Féin] actually said to me …

NY Comptroller “would like to see the pace picked up”

Pete Baker on May 8, 2009, 8:12 pm

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Via Máirtín, who tells us that – “The Emerald Fund, I’m told, is close to making an announcement on its first investment here.” That would be this Emerald Fund. The Village Voice has news of that same fund’s first major expenditure. When the private Emerald Infrastructure Development Fund made its first filing with the Securities Exchange Commission in October, it listed one of the comptroller’s oldest and closest supporters, a broker named William Howell [“a generous campaign contributor and fundraiser …

“they are within the rules and guidelines”

Pete Baker on May 8, 2009, 4:39 pm

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The full list of MPs’ expenses claims is due to published on 1st July but the Daily Telegraph have jumped the gun and detailed ministerial expenses. The Guardian’s Michael White is suitably sceptical of the scoop whilst acknowleging “If there is nothing MPs can do to stop it, much of the blame lies at their own feet.” Of local interest may be the expenses claims of the Northern Ireland Secretary of State, Shaun Woodward, MP, who doesn’t take a ministerial …

Economic pressures on Northern Ireland public sector

Pete Baker on May 8, 2009, 1:00 pm

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BBC NI Hearts and Minds’ Julia Paul looks at the pressures facing the public sector of the NI economy, and what the NI Executive can do about it, with contributions from economist John Simpson and professor of politics at Queen’s University Belfast, Rick Wilford. Pete Baker

“It is better to have the IMF imposing tough reforms than the EU”

Pete Baker on May 6, 2009, 1:41 am

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In the Irish Times Jamie Smyth gives an illuminating account of press briefings German-style before going on to provide an informative interpretation of current political thinking in Germany on EU affairs. 1) Berlin thinks a Yes vote in Ireland is the most likely result of an October referendum due to the economic crisis. But it is concerned the Government is not doing enough to prepare for a second vote. 2) There are grave fears Czech president Vaclav Klaus will chair …

Spare us another Thatcherite clone…

Mick Fealty on May 5, 2009, 7:22 pm

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I came a little late to the whole 30 year Thatcher victory anniversary thing… but there were too many parallels to the state of chaos that was engulfing the UK back then and what threatens to engulf the western world now, resist putting my oar in… With one major British political party holding the baby when disaster struck; and the other doing everything it can not to answer any of the difficult questions now being asked in the wake of …

US President Seeking Reform of Foreign Tax Loopholes

Pete Baker on May 5, 2009, 1:54 am

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The signs were there in November last year. Today US President Barack Obama publicly stated his intention to, as the BBC report says, close tax provisions that allow firms to put off paying taxes on profits made overseas as long as those earnings are invested back into the overseas subsidiaries. Although, whether that intention survives the lobbying.. As RTÉ reports It is understood that many of the US companies in Ireland are beefing up their operations in Washington so that …

Jam, jam, jam, jam..

Pete Baker on May 3, 2009, 6:44 pm

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With the Northern Ireland Regional Development Minister leaking his own proposal to defer water charges again, BBC NI political correspondent Martina Purdy employs some visual aids to look at whether the NI Executive’s ‘jam for everyone’ approach can, or should, survive the economic crisis. Interesing positioning from Sinn Féin’s Mitchel McLaughlin given that the First and deputy First Ministers, and the Finance Minister, declined to be interviewed about the economy, while DUP MLA Simon Hamilton is sent to man the …

“I hope someone remembers to turn the lights out..”

Pete Baker on May 2, 2009, 6:40 pm

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Ahead of Sunday’s Politics Show, Jim Fitzpatrick has some thoughts on the absence of legislation in the legislative assembly. It’s clear the breakdown in Sinn Fein-DUP relations last year, and subsequent suspension of Executive meetings for five months, had an impact. But insiders say that despite the restoration of Executive business, stalemate remains. One source told me that last week’s Executive had only one serious paper to discuss, so it doesn’t seem like there’s going to be any late surge …

“we’re hoping that the guys will accept this..”

Pete Baker on May 1, 2009, 10:10 pm

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Apparently, the Unite union is to recommend the former Visteon UK Ltd employees in west Belfast accept the current offer from the Visteon Corporation. But is it different from the formal offer announced on 21 April? Which was based on the terms that Visteon outlined on 16 April? Which, as reported by the BBC, was rejected at the time – “A Unite union spokesman called the offer “derisory” and that it added “insult to injury.”” Just don’t mention that pending …

“Office Cost Allowance is being used to create a property asset for a political party”

Pete Baker on May 1, 2009, 5:54 pm

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In the Belfast Telegraph David Gordon returns to the topic of the NI Assembly Committee on Standards and Privileges’ consideration of a report on Ian Paisley Jnr’s relationship with Seymour Sweeney and the Paisleys rental claims for their Ballymena office. The Committee rejected a recommendation that Ian Paisley Jnr should declare his connections with developer Seymour Sweeney in the Assembly Register of Interests – although, in his report, the Interim Commissioner, Tom Frawley, noted that in making that recommendation he …