Economy

“watching Cowen and wondering what it was about him yesterday that was so different..”

Pete Baker on March 27, 2009, 2:11 am

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At Irish Election, Cian probably has the measure of picturegate Cowengate portraitgate.. Portraits which, according to an Irish Times report, made their appearance almost three weeks ago.. Meanwhile Suzy poses a key question – “I wonder how morale in the newsroom is?” And, as ever, Miriam Lord is majestic in the Irish Times. How dare some idiot with a paintbrush sully the dignity of the office of An Taoiseach. Who does he think he is – Bertie? Does he really …

“I, of course, respect the role of the Opposition in holding the Government to account..”

Pete Baker on March 26, 2009, 4:14 pm

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With the Irish Gross Domestic Product falling sharply both the Irish Times and RTÉ report on Taoiseach Brian Cowen’s confirmation that the Irish government may borrow more than originally planned. But the target of limiting borrowing to 9.5% of GDP, or about €17.5 billion, already looks out of date. The EC Commission, which has approved plans to return the deficit to within 3% of GDP by 2013, and that’s still “the important point” according to Brian Cowen, predicts an 11% …

Monday’s national strike deferred

Mack on March 25, 2009, 8:07 pm

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According to RTE, the ICTU have deferred Monday’s national protest day & strike. The Unions have suffered some set backs recently with IMPACT voting narrowly to reject strike action, and the Association of Higher Civil and Public Servants voting decidedly against it. More on the RTE report below the fold. The Indo, which has been running something of a campaign for public spending cuts, reports that the Unions won’t win any concessions but Brian Cowen’s intervention allowed them to save …

Brown and the danger of defensive protectionism…

Mick Fealty on March 25, 2009, 4:44 pm

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Over at Brassneck I argue that there is a dearth of serious thinking (Burke’s Corner being a credible exception to that rule) on the Tory side of the house about an international crisis that’s well in train and shattering not simply the UK government’s expectations, but some of the incredibly narrow terms of debate popular on the British right. The messagespace like below is worth hitting the link below and picking up the WSJ’s interview with Gordon Brown, who alone …

Scotland wants better policy and more devolution

Mick Fealty on March 24, 2009, 6:54 pm

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If it were possible to measure the benefit of the substantial and long investment in Northern Ireland’s nascent democracy it would be in the degree of political unity of purpose observable between the First and Deputy First Minister in their responses to the recent shootings. But then that is measuring up from a very low base. In Scotland, people are struggling to put a value on the benefits devolution has brought to them: 38% of voters said they believed devolution …

“what is going to be required is a judgment we don’t need to make at this time..”

Pete Baker on March 24, 2009, 3:10 am

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In somewhat related news, the US Treasury department plans to buy up to $1 trillion worth of toxic assets – with a little help from private investors.. The Treasury does not know whether it will need more federal funds to stabilise the US financial system, but it still has “substantial resources” from the $700 billion bailout to launch its asset purchase plan, Treasury Secretary Timothy Geithner said today. “We will work with the Congress to try to make sure there …

Some irish economic news..

Pete Baker on March 24, 2009, 3:01 am

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As the iol report notes [Irish] Finance Minister Brian Lenihan will summon Irish Nationwide boss Michael Fingleton into his offices this week amid Green Party calls for the banker to resign following revelations of a €1m bonus payment. See also Irish Times reports. But there are often unintended consequences to legislating issuing populist guidelines in haste – as RTÉ reports A replacement chief executive for Irish Nationwide Building Society, who had agreed to succeed Michael Fingleton, has told the board …

“He’s living with a fiction..”

Pete Baker on March 22, 2009, 11:58 pm

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Also from the Politics Show today, BBC NI’s Kevin Sharkey reports on the £1billion shortfall in the Northern Ireland Executive’s three year spending plan identified by economist John Simpson – who’s offered some questions before. NI Finance Minister, the DUP’s Nigel Dodds, has denied that it constitutes a black hole in the budget and, below the fold, his party colleague Simon Hamilton toes the party line in the studio discussion with the SDLP’s Mark Durkan. [What is that ticking sound? …

‘Not just readers of a prepared script…’

Mick Fealty on March 21, 2009, 4:38 pm

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I missed Brian Cowen’s Paddy’s Day autocue fluff… Stephen Collins doesn’t mention in his slightly breathless account of the Taoiseach’s biggest ‘foreign policy’ spake of the year, but Rabbi Jonathan Sach’s was particularly struck at how both men met with the changed circumstances with lightness and humour in his Thought for the Day slot on the BBC’s Thought for the Day slot yesterday morning… Whatever his political opponents think about his party’s flawed efforts to rescue the country’s flagging fortunes, …

Economic tragedy is London GAA’s gain…

Mick Fealty on March 21, 2009, 4:31 pm

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http://www.irishtimes.com/newspaper/weekend/2009/0321/1224243190799.htmlAccording to the Irish Times: GAA clubs across London, some of which were struggling to field teams in recent years, are reporting a major surge in the numbers of young Irish men and women joining. National insurance figures compiled by UK authorities indicate that thousands of Irish-born people have registered to work in recent months. And, for the first time in years, support groups such as the London-Irish Centre in Camden are being contacted by young economic migrants in need …

“Do you have the power to bring in minimum pricing?”

Pete Baker on March 17, 2009, 6:01 pm

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At the end of Brian’s post on proposals for a minimum price per unit of alcohol he asks “Where does the Assembly stand?” The UK government is, officially, lukewarm on the idea but Northern Ireland’s Health Minister, the UUP’s Michael McGimpsey, was enthusiastic on Stormont Live yesterday. He thinks he’s spotted a potential pot o’ gold. But such a stealth tax would, apparently, also depend on stealth legislation through the UK Parliament rather than the NI Assembly. Wouldn’t that income …

“We’re unclear what the implications might be..”

Pete Baker on March 17, 2009, 2:13 am

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Despite being opposed to academic selection the Northern Ireland Education Minister, Sinn Féin’s Caitriona Ruane, believes pupils from Irish medium primary schools must get an equal chance of a grammar school place. So, in the new unregulated system, English medium post-primary schools may have to offer Irish language version of their transfer tests.. just like the 11-plus.. From the BBC report The representative body for Irish-medium education in Northern Ireland, Comhairle na Gaelscolaíochta, has written to grammar school groups about …

“Before anyone starts jumping for joy..”

Pete Baker on March 16, 2009, 2:45 am

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In his dispatch from New York, covering our little pleaders the Northern Ireland First and deputy First Ministers’ tour of the US, BBC NI political editor Mark Devenport reminds us, ahead of “an announcement tomorrow from the New York State Comptroller of another multi million dollar fund earmarked for Northern Ireland”, that the much vaunted Emerald Fund has yet to actually invest any money here. Btw, apparently the NI First and deputy First Ministers’ honeymoon began at a reception at …

“and, therefore, there is no question of disallowance..”

Pete Baker on March 10, 2009, 2:12 am

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The Northern Ireland Agriculture Minister, Sinn Féin’s Michelle Gildernew, was answering questions in the NI Assembly today on the “misunderstanding” with the European Commission over the Farm Modernisation Scheme which opened for applications on 17 February. From the answers given it would appear that although the Department “consult[ed] the [EU’s] rural development programme’s monitoring committee on the scheme selection criteria” – but not the European Commission despite the previous response by the Minister to EC criticism that “Brussels knew what …

“the Obama administration is dithering..”

Pete Baker on March 7, 2009, 9:23 pm

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When even Michael Tomasky is grumbling about the Obama administration you know something’s seriously wrong.. Of course, he’s taking his cue from Paul Krugman in the NY Times But among people I talk to there’s a growing sense of frustration, even panic, over Mr. Obama’s failure to match his words with deeds. The reality is that when it comes to dealing with the banks, the Obama administration is dithering. Policy is stuck in a holding pattern. Pete Baker

“by far the worst area for benefit cheats”

Pete Baker on March 7, 2009, 9:14 pm

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Donegal Fine Gael TD Joe McHugh complained of “unusual patterns of dole claimants” in certain border towns back at the start of February. Yesterday the BBC reported the Irish Minister for Social and Family Affairs, Mary Hanafin, Minister for Social and Family Affairs, identifying the main culprits Ms Hanafin said the north-west is “by far the worst area for benefit cheats”. “The number of people claiming in Buncrana and Ballybofey are out of line with the rest of the county.” …

“I have consistently stated my desire..”

Pete Baker on March 7, 2009, 3:10 am

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Sinn Féin’s John O’Dowd may have welcomed the Northern Ireland Education Minister Sinn Féin’s Caitriona Ruane’s announcement of the 2009/10 education budget, but he’s hardly a reliable witness. Elsewhere, BBC NI’s Maggie Taggart details the cuts involved. The department had set aside £22.7m to finance the early retirement of teachers, that figure is now £6m. School maintenance will get only £5m extra, when the total bill is £200m. There will be no expansion of the youth service and no extra …

“We are seeking assurances..”

Pete Baker on March 5, 2009, 8:38 pm

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PriceWaterHouseCoopers are predicting that Northern Ireland will “fare better” than the rest of the UK during the economic downturn. But, as they prepare to travel to the US, our little pleaders are at it again.. Peter Robinson and Martin McGuinness are hoping that Dublin sticks to its commitments and that London drops its demands for savings, otherwise they believe there could be a serious impact. “We are seeking assurances. We recognise the difficulties that both governments face but as a …

“While officials refuse to be drawn on the issue..”

Pete Baker on March 5, 2009, 7:29 pm

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In the Irish Times, Frank Millar notes what various sources are saying about the timing of the devolution of policing and justice powers as the most recent bill is rushed through the UK Parliament. While officials refuse to be drawn on the issue – and stress the timing is a matter for the Assembly – the indications are that Whitehall now expects the transfer of powers to take place some time after this year’s European elections in June and before …

Quote of the day

Pete Baker on March 4, 2009, 11:53 pm

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And the award goes to.. the patriotic Independent Senator Joe O’Toole [No relation – Ed] defending ministerial trips abroad during St Patrick’s Day Week Month “We need our people abroad,” he said. “Never was it more necessary to promote our economy abroad, and if that means going over there and sloshing horrible-tasting green beer, shaking hands with the ancient order of this, that or the other thing or meeting the various brotherhoods then so be it.” Heh. Pete Baker