What sort of Ireland we wish to live in. Will it be all about the financial benefit to the few or the maximum benefit to the People of Ireland.
We believed till recently that the cuts are necessary as the country is in a financial crisis but the truth is Ireland is one of the richest countries i... more
What sort of Ireland we wish to live in. Will it be all about the financial benefit to the few or the maximum benefit to the People of Ireland.
We believed till recently that the cuts are necessary as the country is in a financial crisis but the truth is Ireland is one of the richest countries in the world in terms of natural resources, Zinc, Lead Gold, Gas and Oil.
The Division of the Department of Communications, Energy and Natural Resources state:
“In terms of tonnes of zinc discovered per sq km, Ireland ranks 1st in the world.”
According to oil experts the Corrib field and the Dunquin prospect, are collectively worth at least €400 billion. The Dunquin oil and gas reserve alone could “transform the energy requirements of Western Europe” Tony O’Reilly Junior, Providence Resources.
Finance Act 1999 set corporation tax 12.5% on the profits of OUR natural resources. In addition a raft of tax concessions are available in some cases up to 120% of expenditure.
It’s not enough to say “STOP THE CUTBACKS” we must promote an alternative
WHAT IS THE ALTERNATIVE?
The re-enactment of Justin Keating 1975 legislation on oil and gas and extension of this to all OUR natural resources
Among the terms were:
* Up to 50% stake find in any commercial field
* 8-16% royalties
* 50% Corporation tax
ALa
We have less than 5 weeks to present to the public an alternative to the cuts
This is going to be a differcult task. I was hoping that the event would have produced such demands. Based on what was done though, which was great, we need to put a clear set of demands together
Along with the demand for Keating like legislation on our natural resources the Community Platform is call to:
1. Reduce tax breaks for the wealthy to EU levels
2. Introduce a Wealth Tax for high earners with assets worth more than €1m... more
We have less than 5 weeks to present to the public an alternative to the cuts
This is going to be a differcult task. I was hoping that the event would have produced such demands. Based on what was done though, which was great, we need to put a clear set of demands together
Along with the demand for Keating like legislation on our natural resources the Community Platform is call to:
1. Reduce tax breaks for the wealthy to EU levels
2. Introduce a Wealth Tax for high earners with assets worth more than €1million
3. End Tax Exile loopholes by making citizenship the basis for taxation for high earners
4. Apply PRSI and income levies to all income, regardless of source
are, to me an excelent start.
We have this week to decide on demands as we need at least 4 to promote them
Jim
Colette Spears
There are 10 billion barrels worth of fossil fuel off shore to gain from for our future. Bolivia and Norway both nationalised their oil industries, why can't we or at least re-enact the Justin Keating 1975 legislation
john
It's amazing in a supposedly developed country we have given away our natural resources for next to nothing. A supposedly developed country which focuses on those on the dole or low to middle incomes for budget revenues. There is money there but the government is targeting the wrong groups and its actions will hit the economy through cutting purchasing power.
ALa
Will those who did not listen to us during the Lisbon campaign listen to us now? I realise that times have changed but they still belive the lie that we have no alternative but to accept cuts. I sometimes feel I am talking to the deaf and that I am alone. Then I meet people like you and feel a sence of pride to be Irish and a hope for the future.
Jim
DavidTaylor
I know, Jim, just being facetious. I personally would never vote for any upward transference of powers and rights but I have to abide by the so-called majority, who have yet to realise the consequences of their Lisbon treaty 'decision'. ;)
David
ALa
When I say "we" I am talking about the people of Ireland.
Let us be one
Jim
DavidTaylor
Careful with the 'we'!!!
But yes, the Lisbon treaty handed the family silver the mafia.
ALa
Is it not the case though that we supported the sell off of our esesntial services when we voted for Lisbon Treaty?
Jim
DavidTaylor
We are only at the beginning of selling off our resources. Rossport (and now Coillte), along with the eircon fiasco, are just three blatant examples of the disregard our politicians have for things which do not belong to them.
Yes, I know we elect politicians on their stated policies but where on earth is the forward thinking, both in them and the electorate?
The health service privatisation is on-going, as are the road networks; ESB is next; then the Post Office along with all the state and semi-state... more
We are only at the beginning of selling off our resources. Rossport (and now Coillte), along with the eircon fiasco, are just three blatant examples of the disregard our politicians have for things which do not belong to them.
Yes, I know we elect politicians on their stated policies but where on earth is the forward thinking, both in them and the electorate?
The health service privatisation is on-going, as are the road networks; ESB is next; then the Post Office along with all the state and semi-state bodies, CIE stuff, schools, you name it. A fire sale, which is basically what it is.
'Shooting' and 'foot' come to mind.
ALa
I lokk forward to the Claiming our Future event. It will be impossible to meet 1000+ people but homefully many of you.
Jim
ALa
Anonoymous you say "They gave away all the oil and gas in rossport. Now they are about to """Sell""" one and a half million acres of land (Coillte). About one eight of our land is about to be given away without one shot been fired."
Yes! and our Health, Education and all public services that can make their friends even richer
ALa
There is a realisation of the lack of taxation of our natural resources by many Irish people, I believe. There are 131 votes for this in Ideas and in Facebook causes 1,300 members.
Ok! So what are we going to do about it? How can we refuse to accept the cuts and demand a fair return from OUR resources? The main parties including Labour are refusing to take up the issue and program for Government along with taxing of the wealthy. Labour say they represent us let them prove it.
Jim
ALa
Thank you Praxis for that information
What sickens me I hear from our polititions every day how terible the cuts are affecting the people of Ireland. Yet there is no mention of taxation of the wealthy people of the nation.
A Revenue Commissioners’ analysis for 2008 showed that 189 high-income individuals with an annual income of €500,000, or more, paid an average tax rate of just 19.86%. Of 234 individuals earning between €250,000 and €500,000:
* 54 paid tax at a rate of between 0% and 5
* 34 paid tax a... more
Thank you Praxis for that information
What sickens me I hear from our polititions every day how terible the cuts are affecting the people of Ireland. Yet there is no mention of taxation of the wealthy people of the nation.
A Revenue Commissioners’ analysis for 2008 showed that 189 high-income individuals with an annual income of €500,000, or more, paid an average tax rate of just 19.86%. Of 234 individuals earning between €250,000 and €500,000:
* 54 paid tax at a rate of between 0% and 5
* 34 paid tax at a rate of between 5% and 10%,
* 145 paid tax at a rate of between 10% and 20%,
* Just one individual paid tax at a rate of 20%
* Not a single individual paid tax at a rate in excess of 25%
The low rate of tax was based on their ability to avail of generous tax reliefs:
* 148 individuals availed of tax reliefs on capital expenditure on hotels at a cost of €58.4 million
* 36 individuals claimed reliefs for interest paid on loans to acquire an interest in a company at a cost of €15 million
* 10 individuals claimed reliefs on studs and stallions at a cost of €3.36 million
* 43 individuals claimed exemptions on income from patents at a cost of €36.9 million
Anonymous
They gave away all the oil and gas in rossport. Now they are about to """Sell""" one and a half million acres of land (Coillte). About one eight of our land is about to be given away without one shot been fired. What did the men and women of 1916 die for?
Praxis
Reports by the Petroleum Affairs Division (branch of the Dept of Communications, Energy and Natural Resources which is responsible for Irish gas and oil) estimate a potential 10 billion barrels of oil equivalent in the Atlantic Margin (West Coast). This is worth around €600 billion for the West Coast alone. Providence Resources, part owned by the O'Reilly family ( the same family with shares in the Independent Newsgroup) recently announced a find of 870million barrels of oil off the Dublin Coast...
t... more
Reports by the Petroleum Affairs Division (branch of the Dept of Communications, Energy and Natural Resources which is responsible for Irish gas and oil) estimate a potential 10 billion barrels of oil equivalent in the Atlantic Margin (West Coast). This is worth around €600 billion for the West Coast alone. Providence Resources, part owned by the O'Reilly family ( the same family with shares in the Independent Newsgroup) recently announced a find of 870million barrels of oil off the Dublin Coast...
there doesn't seem to be one publicly available figure for the present value of all our natural minerals, gas and oil but the above figures point to a potential source of wealth which could radically transform Ireland, if the returns actually went back into the state. The main mechanism for returns from our gas & oil is a 25% tax rate against which companies can offset all costs accrued over a previous 25 year period, meaning few returns from gas & oil. Compare this with Norway which has a 78% tax rate, state participation through the State Direct Financial Interest and as a 67% share holder in Statoil they receive massive returns from their gas & oil - perhaps this is the model we should follow? Since the early 70s the Norwegian State has received nearly €1 billion euros from their gas & oil, while Ireland has effectively given away our resources. Ironically the Irish 1975 terms were based on the Norwegian model, but thanks to changes mainly made by Fianna Fail politicians including Ray Burke and Bertie Ahern, we get next to nothing from our resources - this cannot continue. we can't afford to give away our gas & oil.
ALa
Can anyone tell me what is the present value of OUR Natural mineral, gass and oil Resources. The government seem to be very quite on this subject. It is argued that if we increase our corporation tax of 12.5% companies will leave Ireland but in therm of natural resources they cant move them somewhere else.
Karl James
You are dead right Marie. Tax the wealth of the nation. Small and medium sized business is being destroyed by these cuts. We are being taxed out of business while the wealties people in the country are getting away scot free as shown by the info you provided.
The Revenue Commissioners’ analysis for 2008 showed that 189 high-income individuals with an annual income of €500,000, or more, paid an average tax rate of just 19.86%. Of 234 individuals earning between €250,000 and €500,000:
* 54 paid tax at a ... more
You are dead right Marie. Tax the wealth of the nation. Small and medium sized business is being destroyed by these cuts. We are being taxed out of business while the wealties people in the country are getting away scot free as shown by the info you provided.
The Revenue Commissioners’ analysis for 2008 showed that 189 high-income individuals with an annual income of €500,000, or more, paid an average tax rate of just 19.86%. Of 234 individuals earning between €250,000 and €500,000:
* 54 paid tax at a rate of between 0% and 5
* 34 paid tax at a rate of between 5% and 10%,
* 145 paid tax at a rate of between 10% and 20%,
* Just one individual paid tax at a rate of 20%
* Not a single individual paid tax at a rate in excess of 25%
The low rate of tax was based on their ability to avail of generous tax reliefs:
* 148 individuals availed of tax reliefs on capital expenditure on hotels at a cost of €58.4 million
* 36 individuals claimed reliefs for interest paid on loans to acquire an interest in a company at a cost of €15 million
* 10 individuals claimed reliefs on studs and stallions at a cost of €3.36 million
* 43 individuals claimed exemptions on income from patents at a cost of €36.9 million
Karl
ALa
Marie get things right before you post comments. But to your credit your demand for our natural resources to benefit the Irish People is something we should all be calling for.
marie aherne
My appologies to all. Apparently I was wrong in calling for the re-enactment of Keatings Legislation as they were only regulations. Here is a compilation of two of David Norris's emails.
Dear Jim,
Thanks very much for your message and for reminding me about the Keating regulations. They are actually regulations rather than legislation. The problem is that you cannot enact regulations. They come in the wake of a bill and they are ministerial regulations. The Bill empowers the Minister to make such regulat... more
My appologies to all. Apparently I was wrong in calling for the re-enactment of Keatings Legislation as they were only regulations. Here is a compilation of two of David Norris's emails.
Dear Jim,
Thanks very much for your message and for reminding me about the Keating regulations. They are actually regulations rather than legislation. The problem is that you cannot enact regulations. They come in the wake of a bill and they are ministerial regulations. The Bill empowers the Minister to make such regulations. I and I have looked them up and I will be pushing them in the Seanad.
Best wishes
David Norris
I strongly believe that Justin was correct and that the Irish People should benefit from OUR natural resources
Jim
Noel Thomas Martin
Hi Marie. Yes. However change does not come easily and the corrupt will not desist from their amoral actions so long as we continue with the present political/economic system. Look at the political parties in Dail Eireann, can you honestly say that there is a discernable ideological difference between most of them? Change will only come if the majority ofour people demand so. It is up to those of us who desire real change to try to give leadership by persuasion. If, and I say if even the bones of... more
Hi Marie. Yes. However change does not come easily and the corrupt will not desist from their amoral actions so long as we continue with the present political/economic system. Look at the political parties in Dail Eireann, can you honestly say that there is a discernable ideological difference between most of them? Change will only come if the majority ofour people demand so. It is up to those of us who desire real change to try to give leadership by persuasion. If, and I say if even the bones of a really radical programme for change that can unite the participants at the upcoming conference is agreed, that in itself would serve as a rallying call for a huge section of our people. Keep the faith and continue the good fight.