Ireland’s struggle to introduce a property tax continues, as does the public’s fixation with it. A minor bullet point in this update to the IMF-EU “troika”, confirming what was already decided – that Ireland is going to bring in a value-based property tax – is (along with that other staple of Irish debate, abortion) leading [...]
Recently, reading the Irish Independent has been a bit of a rollercoaster for me â€“ one day Iâ€™m practically doing the governmentâ€™s job for it for free, the next Iâ€™m guilty of elder abuse. By way of context, in late January, I presented at the Dublin Economics Workshop Conference on Irish Economic Policy. Specifically, I [...]
The imminent introduction of water and property charges has sparked anger among most Irish people, not least because as flat charges, or poll taxes, they are unfair. This post outlines a better way of introducing an interim property charge, namely by breaking down the country into ten different bands based on land value, and then presents a map of the bands, based on 200,000 daft.ie ads in 2009 and 2010. Such an interim system would be significantly fairer and could be tailored to bring in â‚¬1.5bn when fully running.
This post looks at what foundation stones the Government should put in place to build the next generation of Ireland’s property market. It briefly reviews two that I’ve discussed before – the importance of a national house price register and a land value tax – before outlining two further proposals in more detail. A set-in-stone minimum deposit would greatly reduce the potential for policy to amplify bubbles, while banning variable rate mortgages would not only protect vulnerable households but also reduce the degree to which the economy is subject to ECB-induced recessions.
This post reviews the Programme for Government agreed by Ireland’s new coalition partners, across three headings. The first is the urgent problem of Ireland’s debt burden, the second is the more medium-term issue of the deficit, while the final heading covers the long-term issues of mortgage arrears and unemployment. While there are many things to be welcomed in the new Programme for Government, on these headings at least, there is an alarming lack of coherence and detail.