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Updated 10.57 pm
THE UNIVERSAL SOCIAL Charge (USC) is going nowhere for the time being according to Finance Minister Michael Noonan.
The minister, speaking to Pat Kenny on Newstalk this morning, said that the tax is here for the “foreseeable future”.
The Government announced in last month’s budget that the USC tax bands are changing to reduce people’s tax burden but, in today’s interview, Noonan said the Government has no plans to abolish it completely.
“It collects an enormous amount of money, over €4.5 billion. It’s going to be part of the personal taxation code,” he said.
“There will be USC for the foreseeable future. The adjustments for lower paid people will be through adjustments through USC. I’d like them to pay a little but not a lot.”
Noonan also said that he would like to see the Central Bank’s new mortgage lending rules relaxed to allow more people secure 80%-plus mortgages.
Under the rules, banks can have no more than 15% of their loan book made up of mortgages over 80% of value, Noonan says he would like to see this increased.
“I would like to see that 20-25% and I think there’s scope to do that,” he said.
Noonan was also asked about possible coalitions after the next General Election, saying that his party’s “preferred Government will be Fine Gael and Labour”.
“We don’t know where Fianna Fáil stand,” he said on a possible coalition between the two parties.
IMF
Noonan also announced today that Ireland is to pay its first €9 billion tranche back to the International Monetary Fund next month.
The early repayment will save us €750 million in interest, according to the minister, and will take place on two dates in December.
Noonan said that he expects interest savings of €1.5 billion to be achieved from early repayment of the total €18 billion, though the actual savings will depend on the timing and markets.
“By reducing the interest bill on the national debt we reduce the amount of tax revenues and borrowing that go towards financing the debt,” he said. “This frees up resources for investment in activities that will grow the economy, create jobs and opportunities. This has knock-on benefits across the economy and can lower the cost of debt for businesses and families.”
He added that it is “essential” that we improve debt sustainability in order to break the boom and bust cycle of the past.
- Additional reporting by Rónán Duffy
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Some good news for a change..
FARCing great news.
“Obama vowed continuing support for Colombia, a key ally in the US war on drugs.”
Really Mr. Obama? Maybe have a look at your own security agencies who are up to their bloody elbows in the drugs business in Columbia and many other countries for over 70 years:
“The litany of this is a long one, with the OSS (the predecessor of the CIA) forming a strategic alliance with the Sicilian and Corsican mafia after World War II to prevent possible communist uprisings in Europe and to smash left-wing unions; the CIA’s assisting the Kuomintang with its opium trafficking operations to fund their joint anti-communist efforts in Asia; the CIA’s actual trafficking of opium out of Laos, Burma and Thailand to help fund the U.S. counter-insurgency effort in South East Asia; the CIA’s support of “the chief smugglers of Afghan opium, the anti-communist Mujahedin rebels in Afghanistan” in their efforts against the pro-Soviet government in Afghanistan, leading ultimately to Afghanistan becoming one of the largest opium suppliers in the world (a status only briefly interrupted when it was under Taliban control); and the Reagan Administration’s funding the Nicaraguan Contras (after such funding was outlawed by Congress) by, among other things, cocaine smuggling operations.
The book quotes the United Nations Drug Control Program (UNDCP) which concludes that, today, “the biggest heroin and cocaine trading institutions in the world are the militaries of Burma, Pakistan, Mexico, Peru and Colombia – ‘all armed and trained by U.S. military intelligence in the name of anti-drug efforts.’” In the case of Colombia, while the U.S., to justify its massive counterinsurgency program, vilifies the FARC guerillas as “narco-terrorists,” this title is more befitting of the Colombian state and its paramilitary allies.”
http://www.counterpunch.org/2012/02/16/the-u-s-war-for-drugs-of-terror-in-colombia/
Good news all the same though Wally.
Good copy/paste job Billy. Wouldn’t call counterpunch a credible source though.
Can you identify anything incorrect in the article Tadhg?
The first rule of confirmation bias – go after the source
Billy, I can see something incorrect! – YOU!!
So no dispute as to the content of the article then Tadhg? Maybe you’d prefer the Nation Security Archive blow which also outlines the U.S involvement in drug trafficking:
“This electronic briefing book is compiled from declassified documents obtained by the National Security Archive, including the notebooks kept by NSC aide and Iran-contra figure Oliver North, electronic mail messages written by high-ranking Reagan administration officials, memos detailing the contra war effort, and FBI and DEA reports. The documents demonstrate official knowledge of drug operations, and collaboration with and protection of known drug traffickers. Court and hearing transcripts are also included.”
Evidently Ronald hadn’t heard about his wife Nancy’s “Just Say No” to drugs mass media campaign during the 80s.
@ Billy Mooney : North and South Korea are still technically at war, as they only signed an armistice, not a peace treaty. So that’s a longer war than the Farc one.
I won’t quibble with you over inconsequential technicalities Niall. When I asked Tadhg if there was anything incorrect in the article I was referring to the linked counterpunch piece.
@ Billy Mooney: no problemo. I was referring to the Journal’s abysmal record of exaggeration, lousy sub-editing, or simply getting things wrong.
This seems like great news, but in reality its a Trojan horse. The Farc were established as a Communist movement, they formed the guerrilla because Colombians voted in favour of Democracy and the Communist candidates never got enough votes. They were more popular in Rural Colombia, but still not popular enough to win an election. So what do you do when you are a stubborn Communist who always looses an election? Form a Guerrilla. These people are murderers, kidnappers, drug dealers. All with the pretexts of founding “the cause” Colombia gained the fame they have is thanks to Guerrillas, they enabled drug cartels. They made travelling by land impossible, because they would engage in kidnappings even having their own checkpoints in the roads, they had total control of rural Colombia and their roads. People up to date travel mostly by air within Colombia not to get kidnapped.
Many of the people who ruined Venezuela with Chavez and Maduro are Ex-Guerrilla members. They had the most senior positions in cabinet.
What will happen in Colombia its a What happened in Venezuela, but on Steroids. These assassins will now be free and be able to run for office and fool the vulnerable poor population with false promises just like Chavez did in the 1990s, Chavez even said that “He hates Socialism, he is pro free market and these Marxists ideas are outdated” And people bought it.
Don;t get me wrong, I am anti savage capitalism and anti oligarchy, this is the other extreme. But I dare any die hard leftists Marxists pro Cuba, Pro venezuela, Pro Communism to have the b.alls to come here and defend Farcs action, to defend Communism, Cuba and Venezuela without even been there for themselves. I dare someone who has been in in these places and say that Communism is the answer.
Ok Uribe.
Very good analysis Juan. You seem to know what you’re talking about.
FARC didn’t start this conflict, the army’s attacks on civilians did.
Colombia wasn’t a democracy- it was an oligarchy where only two parties could run for office until the early 90s. It was a ‘perfect dictatorship’ like Mexico, in the hands of an elite.
What happened every time FARC tried to demobilize? It’s members were assasinated. Google the genocide of the Union Patriotica.
Worried that poor people will vote for FARC? That speaks volumes about the country- the poor are so oppressed that they might vote for the hated guerrilla over the mainstream parties.
I’m no supporter of FARC but people need to stop acting as though they’re solely responsible for the war.
The United Nations are actually doing something useful! I need to lie down.
That’s good news ☮
Fantastic news for the SF bird watching society. They can now watch some birds in Colombia without coming under undue suspicion.
Congratulations to Eamon Gilmore as well.
What about the punishment for using child soldiers by farc.
Usually govt propaganda, helps to deprive your opponents of legitimacy
The army force poor Colombians who can’t bribe their way out to fight on the frontline. FARC aren’t alone in forced recruitment.
No more Sinn Fein/ IRA training trips. Whatever will they do with their free time?
All cause of the banana war started by the US and EU
http://www.triplepundit.com/2015/01/bananas-colombian-civil-war-u-s-supreme-court/
have your say