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02/11/2011
Ireland Richer As Loan Blunder Uncovered
Ireland is getting richer - or at least the Government has been modestly refinanced.
The country is €3.6bn better off, following the discovery of an accounting blunder, but the Finance Minister Michael Noonan has already insisted that it will make no difference to the existing austerity Budget.
Instead he said today that said that while the money means the country’s debt is lower in percentage terms, the lump sum has no bearing on money coming in or money going out.
“We are now more sustainable because the debt is lower,” he told RTE.
“But it makes no difference to money in and money out, or budgetary matters.”
However, Opposition TDs have called for Taoiseach Enda Kenny to announce a review of the Government’s approach to the Budget as the overall debt is said to be 2.3% lower than it was before the discovery of the money.
Sinn Fein's Mary Lou McDonald said it will therefore no longer need to make €3.6bn of cuts to meet the EU/IMF target, but Mr Noonan ruled that out.
It turns out that the €3.6bn was lent by the National Treasury Management Agency and the Housing Finance Agency, but both agencies recorded the sum as money owed, essentially doubling the debt.
Measures are to be put in place to prevent such a blunder from happening again.
(BMcC)
The country is €3.6bn better off, following the discovery of an accounting blunder, but the Finance Minister Michael Noonan has already insisted that it will make no difference to the existing austerity Budget.
Instead he said today that said that while the money means the country’s debt is lower in percentage terms, the lump sum has no bearing on money coming in or money going out.
“We are now more sustainable because the debt is lower,” he told RTE.
“But it makes no difference to money in and money out, or budgetary matters.”
However, Opposition TDs have called for Taoiseach Enda Kenny to announce a review of the Government’s approach to the Budget as the overall debt is said to be 2.3% lower than it was before the discovery of the money.
Sinn Fein's Mary Lou McDonald said it will therefore no longer need to make €3.6bn of cuts to meet the EU/IMF target, but Mr Noonan ruled that out.
It turns out that the €3.6bn was lent by the National Treasury Management Agency and the Housing Finance Agency, but both agencies recorded the sum as money owed, essentially doubling the debt.
Measures are to be put in place to prevent such a blunder from happening again.
(BMcC)
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06 August 2010
Plea To Review Property Management Laws
A fast-growing NI estate agent has hit out at the Stormont administration for its failure to fully protect the public from unlicensed Estate Agents/Property Managers. Sonia Millar, of CSM Estate Agents in south Belfast said: "I am disappointed that the Government has not legislated for all property professionals to be licensed.
Plea To Review Property Management Laws
A fast-growing NI estate agent has hit out at the Stormont administration for its failure to fully protect the public from unlicensed Estate Agents/Property Managers. Sonia Millar, of CSM Estate Agents in south Belfast said: "I am disappointed that the Government has not legislated for all property professionals to be licensed.
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Northern Ireland WeatherThis Evening and Tonight:A mostly dry evening and night with a widespread frost developing along with freezing fog, which could become extensive, especially in the south. Winds remaining light. Minimum temperature -3 °C.
