Thursday, April 1, 2010

Economics 1/04/2010: Travel time? Not a chance.

Hat tip to the Machholtz's blog - the link to my participation on Wide Angle (Newstalk 106FM) here. Discussing Nama...

The thing is - when all sides of political spectrum agree that we have taken a wrong path to banks crisis solutions, why is the Government failing to listen? Is the answer boiling down to the 1,500 jobs still remaining in the Anglo? Is it all about projecting the optics, buying time at the expense of the future of this country?

On today's data release from CSO:
  • Trips to Ireland by overseas residents in January 2010 - down 26% to 313,800 from January 2009, an overall decrease of 110,400
  • Visitors from Great Britain - down by 31.6% to 142,400
  • Visitors from 'other Europe' and North America down by 29.7% and 2.2% respectively
  • Trips from residents of other areas rose by 4.2%
  • The largest decreases from overseas visitors to Ireland were: Great Britain (-65,900), Poland (-7,800), France (-7,000), Italy (-5,700) and Germany (-5,200)
In the mean time, Irish residents made 448,900 overseas trips in January 2010 or 10.6% fewer than in January 2009.
Travel tax, as expected with all trade barriers, is not an effective measure of domestic industry protection. Instead, it is yet another quick fix revenue raising measure that hurts more than it delivers.

Don't believe me? Well, aside from several independent analysts reports, even Aer Lingus (our Government's cheerleader airline) and Bloxham Stockbrokers (not exactly known for their fortitude when it comes to criticising the Government) agree.


patrick1978 said...

NAMA's €50bn bill may never arrive for taxpayers

patrick1978 said...

According to Brenda Keenan Nama will cost €50bn and not €54bn, sure whats another €4bn

patrick1978 said...

Constantin, you wrote in a blog previously to send in examples of when the public is being misled by the government.

"Lenihan turns down call for more time"

I think the headline says it all. This crisis started in March 2008 and it is now March 2010, Brian is giving the banks another 8 months