Bertie to step down

Jackz

So Bertie might be replaced as Taoiseach in the last year of the next government, thats not really a big deal is it.

I think he stated along time ago on the Ray Darcy show that he would retire around that time.

I suppose Enda "Air punching, please take me seriously" Kenny does have age on his side.

Dirk Gently

Senator wrote:

Vincent Browne has just revealed on the RTE lunchtime news that Bertie Ahern told him in an interview to be aired tonight on Browne's radio prog that he (Bertie) will be stepping down before the next election if he is re-elected as Taoiseach at this one..

I really hope so, (have a feeling he wont stay on after this election) after last nights breaking news over on politics.ie about the stamp duty U turn I had a feeling bertie was more or less finished so I logged onto paddy power to check the odds on Brian Cowan being next taoisaigh.

odds on cowan last night were 16 - 1.

by lunch time today the odds on cowan were slashed to 8-1.

Luckily I got to boyle sports before they slashed their odds and managed to stick 50 euro on cowan at odds of 25-1.

ateam

Bertie is on record as saying he will retire from politics when he is 60.

No Fine Gael Taoiseach has ever been re-elected in the history of the state - that speaks for itself.

Seth Brundle

...and Bertie wouldn't lie!

Judt

kbannon wrote:

...and Bertie wouldn't lie!

"That's not what I said."

But you clearly... "...Didn't say that." *tear*

clown bag

clown bag wrote:

Luckily I got to boyle sports before they slashed their odds and managed to stick 50 euro on cowan at odds of 25-1.

Mightn't be the best bet now:

http://www.ireland.com/newspaper/ireland/2007/0504/1178204390326.html

Cowen has yet to close stamp duty loophole on developers

Mark Hennessy, Political Correspondent

Legislation passed to close a stamp duty loophole used by major property developers has not been implemented by Minister for Finance Brian Cowen nearly three months after it became law.

Developers using the loophole do not buy lands outright but, instead, pay the landowner a licence fee to develop them, leaving the homebuyer to pick up all of the stamp duty tab.

Last year, the Revenue Commissioners identified 60 cases, though it admitted that many more cases existed since its survey was "not exhaustive".

Under a late Finance Act amendment, Mr Cowen tightened the rules, requiring stamp duty to be paid in any contract where landowners received a licence worth more than 25 per cent of the land's value.

During the debate in February, Mr Cowen acknowledged that the Revenue Commissioners had found that use of the tax loophole had become "common practice" in 2006. "They devised this proposal to deal with it," he said, adding that Revenue believed that a minimum of €40 million was lost to the exchequer last year.

"We expect the provisions we are now making will deal with that situation," he told Labour Dublin West TD Joan Burton, who has frequently raised builders' use of tax loopholes.

Despite the scale of the problem, however, Mr Cowen has not signed the commencement order needed to bring the new powers into effect.

Asked about his decision not to do so, the Minister's spokesman said: "The inclusion of a commencement order allows the Minister to decide on an appropriate time for giving effect to the provision having regard to the state of the housing sector, market conditions and the impact of the stamp duty cost to the developer being passed on to housebuyers."

In a letter late last month to Ms Burton, the chairman of the Revenue Commissioners, Frank Daly, said developers secured a licence to "enter on to lands and erect buildings.

The usual way of achieving this is for the landowner to grant the developer or his bank or both a power of attorney, which allows them to execute a conveyance or transfer of the legal title to the ultimate purchaser without further recourse to the landowners.

"Because there is no conveyance of the land from the landowner to the developer, stamp duty does not arise at this point. Stamp duty does, however, arise when the ultimate purchaser buys the land on which a building will usually have been erected by the developer, subject to the availability of the normal stamp duty reliefs."

Ms Burton said builders had other means of avoiding tax, including cases where they hired their own companies to do work for them. The company is paid at below cost, leaving the builder with all of the profit. Once the land is sold, the money is declared as a capital gain and taxed at 20 per cent and not as income tax at 41 per cent.

Changes made to the Finance Act give Revenue powers to query "artificial transactions", but company owners are under no obligation to declare such cases in advance to the taxman.
© 2007 The Irish Times

Tricity Bendix

Myth wrote:

The mud has stuck.

Ahern has always said he wants to retire from politics at 50. The only 'mud' in this story is the fact that Vincent Browne - the cherub that he is - is packaging this news as if it is new in an effort to hurt Fianna Fáil.

JackieO

I think it is widely expected the Bertie will step down very soon after the election.

Seth Brundle

JackieO wrote:

I think it is widely expected the Bertie will step down very soon after the election.

Given the current situation, I think that is likely that he will be forced to step down!