Michael D'Arcy TD

“Ceann Comhairle right to resign over expenses” – D’Arcy

ellen — Mon, 01 Mar 2010 15:36:47 +0000

It was right and proper that Ceann Comhairle John O’Donoghue resigned his position. So says Fine Gael T.D. Michael D’Arcy who branded the extent of the expenses incurred by the Minister, both as Ceann Comhairle and Minister for Sport as “lavish and extravagant”.

“It’s little wonder the public mood is one of extreme anger”, Deputy D’Arcy said. “I’m seeing people every day who have lost their jobs, or have had their wages greatly reduced through levies and new taxes yet the example from the Ceann Comhairle was one of substantial personal gain from a practice of claiming such exorbitant expenses.”

“In the midst of the serious recession we’re in at this time in this country I can understand, completely, why people are angry and frustrated at the revelations of Deputy O’ Donoghue’s expenses. It is only right and proper that he resigned.”

Public confidence needs to be restored in our political leaders,” Deputy D’Arcy continued, adding “it’s just a pity that in his address to the Dail upon his resignation, he chose to cast the blame on the media, on opposition parties, on everyone but the one who incurred the expenses – himself.”

D’arcy Welcomes New Cinema for Gorey

ellen — Mon, 01 Mar 2010 15:25:58 +0000

Five years hard work has culminated in the announcement of a major new cinema project for Gorey. “I always believed the project would happen, but it’s a big endorsement for Gorey in the economic climate we’re in that a multi-million euro cinema complex is about to start,” Deputy Michael D’Arcy said.

“I want to congratulate Zone Leisure Ltd., Phil Brennan and the Spurling Group

and wish them success with this exciting venture,” the North Wexford T.D. said.

“This project started five years ago. It will be a huge benefit for young and old alike in the North Wexford region,” he concluded.

Michael’s address to the Dail on NAMA

ellen — Mon, 01 Mar 2010 15:08:15 +0000

Government of the people, for the people, by the people, these are the immortal

words of Abraham Lincon. What the NAMA legislation represents is Government

of the developers, for the banks, by Fianna Fail and the Greens. It gives me no pleasure whatsoever to speak on this legislation. The country as a whole has been

devalued by the despicable behaviour of a few. While it’s easy to accuse the developers of the greater part of this debacle, in my view, it was the bankers.

There were a number of telling signs that we had gone off track as a nation. The main banks, AIB and Bank of Ireland both sold their headquarters to pension funds when the market was at its maximum. When the people who provide the funding sell their most valuable asset alarm bells should be going off all over the place. Unfortunately

while the alarm bells were going off and our well paid public and civil servants in the higher echelons of regulation chose the only path open to them,which was to do nothing.

You might ask how I’ve come to that conclusion. But consider the position of Mr. Patrick Neary, Financial Regulator. How could this supposed independent regulator cry halt when every government minister, our current Taoiseach included, and the previous Taoiseach, were saying ‘party on lads, our economy is built on sound foundations.’ How could this supposed independent regulator,who is appointed by Government, come out and say everything that the people were pointing are currently saying, is wrong. One has to only remember former Taoiseach Ahern’s comment about ‘independent objective economists’ who he believed to be talking down the economy, they should consider committing suicide. Our one party state Fianna Fail in Government for 23 of the lat 25 years has led us to this. God forbid independent regulators should have acted independently. This would have been too much to ask.

Where were the Governers of the Irish Central Bank? Now that the European Central Bank are in place it did not mean that they absolved themselves of all further duties.

But absolve themselves they did. We as a nation are now paying the price.

The Minister has said he will accept amendments at committee stage to the legislation. The valuation has received a lot of coverage, however the types of assets has not. In my view, we have the good, the bad and the ugly. The ugly assets have animals grazing on them and are likely to have stock walking across them for many years to come. I am of the view that there must be a buy-back clause in relation to these assets. The banks would love to transfer these to NAMA at the supposed valuations of what they were purchased for. NAMA will never achieve this in its lifetime, or a fraction of this. The clause will then force the valuers for the banks to place a realistic figure that might be achieved in time. If this does not come to pass the banks must re-purchase the assets at the price they were transferred to NAMA for in the first place. The taxpayers of today and the future will be protected and not forced to take the most deplorable hit on the poorest of assets purchased by developers in the Celtic Tiger era.

The Government believes this is a ‘Ronseal’ deal – it does what it says on the tin.

My concern is yes, if we value these assets high enough, it will give the banks the

opportunity to cash the Government bonds with the European Central Bank. This

for all intents and purposes is the European Central Bank’s way of injecting capital

into the Irish economy. We thank them for that but with no guarantee from our friends in the lending institutions that the funds in question will be put into the home market to ensure jobs are protected and made. There is a huge number of jobs teetering on the brink of extinction because of cash flow difficulties. To date the banks have not met to facilitate business by providing funds to protect sustainable businesses of the past and potential future due to cash flow problems. The banks can place these funds from the ECB into their balance sheets to provide the correct ratio between funds lent and funds on deposit that they now require to meet. The doomsday scenario is even after all these funds from NAMA, the State will be required to further recapitalise and nationalise.

These are the very same lending institutions who facilitated the transfer of funds out of the country illegally and the establishment of many offshore accounts. The banks set up dozens of accounts per client and in some cases with false names to mask their clients and their fraudulent actions. Those who were caught and were pursued by the Revenue Commissioners paid the relevant tax, interest and penalties that were due. The banks paid their fines and continued with business as usual. How can we trust these people when their actions and deeds have been so dishonourable towards the State. Lending institutions have a commitment towards shareholders with no public interest remit. However when they face ruin due to their reckless trading they ask the State to intervene and save their industry.

Astonishingly our six small institutions internationally are placing their corporate identity ahead of everything else. Remember Mr. Fingleton’s son, at Irish Nationwide. Remember the belligerance towards the Minister for Finance when the idea was floated about a merger of some of the above institutions. The corporate identity is much more important than safeguarding taxpayers money. The Minister for Finance must ensure that the observation of NAMA is open, transparent, and unquestioned by all. Why? Without this the public will not believe the one party Fianna Fail state will not favour those who have funded them throughout the Celtic Tiger boom.

The Minister for Finance must ensure that the taxpayers are not compromised by developers whose loans have been transferred to NAMA but their liability is still the same with the State. This can be no developers’ charter for them to renege, file for receivership or go into examinership, only to re-appear some period of time later and continue trading like nothing has happened. These are the same people who helicoptered, jetted, and lived like mercantile princes of the 1800s. The taxpayers of our country will not accept funding NAMA to allow developers re-establish business as usual. There are concerns many developers have placed properties with no mortgages into family members names. While at a corporate level their companies may be bankrupt, but these people still have a huge asset value out of reach and in effect being paid for by our citizens. This is not acceptable. The personal guarantees are a minefield legally and may not be worth the paper they are written upon. I have no doubt there will be many legal challenges before a clear corridor is available for officials within NAMA.

The same civil servants in our one party state who chose not to tell the Emperor he has no clothes will be the same people attempting to force the banks to provide capital to business who failed us at the peak of the boom. Have the State employees sufficient financial, legal and administrative abilities to compete with the hired guns, the major banks and major developers are likely to draft in. I don’t believe they have.

The real difficulty with NAMA is our ability to provide funds for people within our State who need the service of our State. The measure of any society is how well we look after those who are less capable of looking after themselves. With all our capacity removed the cuts, savings, adjustments, whatever the Government deputies wish to call this, is gone. All our abilities for additional funds will be consumed by NAMA. Banks to be looked after before the citizens.

I want to demonstrate what a million is and what a billion is. If we count one million seconds and transfer it into days it amounts to about 12 days. If we count one billion seconds it amounts to 32 years.

Taxation Commission proposals will cost dearly, D’Arcy warns

ellen — Mon, 01 Mar 2010 14:58:22 +0000

Proposals from the Commission on Taxation for a significant overhaul of the tax system will result in a raft of new taxes and no-one should think otherwise. That’s according to Fine Gael Deputy Michael D’Arcy who says the proposals are being touted as ‘cost neutral’ but are anything but. “Nobody should believe that” he says.

The proposals, published on Monday in the report from the Commsion, has recommended the taxation of child benefit, the introduction of domestic water charges, an end to tax relief for nursing home expenses and income tax relief for trade union subscriptions, as well as a new method of vehicle registration tax, among other measures.

“Make no mistake, these proposals will end up costing people many times over,” Deputy D’Arcy said, adding, “it’s just a new way of getting more money from people through taxation to make up the massive deficit caused by the Government’s ineptitude,” he said. “At a time when even those still working are struggling to meet their financial commitments, the last thing that’s needed is extra taxation,” he concluded.

Dozens of small Wexford schools could close under Bord Snip proposals

ellen — Mon, 01 Mar 2010 14:44:43 +0000

Fianna Fail could be responsible for the closure of dozens of small primary schools across Co. Wexford, says Fine Gael T.D. Michael D’Arcy.

“Co. Wexford has dozens of small rural schools with less than 50 pupils,” Deputy D’Arcy pointed out, “and if they follow the recommendations of An Bord Snip Nua then those schools will close. That will be the legacy of this Fianna Fail led

Government, an almighty blow to education and the decimation of rural areas.”

The report released recently by An Bord Snip Nua stated that 659 small primary schools across the country should be amalgamated. The measure would save in the region of 300 teachers – a cost saving of some €18m each year in salaries. The McCarthy report also suggests mergers of the 851 schools in the 50-100 pupil category, a move which would see another €9m shaved off the annual teachers salaries bill.

“I’m extremely concerned about this because up to now every time this Government has had to cut costs it has opted for the soft targets, i.e. children, the elderly, and the

sick and I believe it could well do so again by closing these small country schools,”

he said.

“In doing so Fianna Fail will rip the heart out of local communities, pulling apart the social fabric of those areas. We’ve already seen rural garda stations and rural post offices close. Rural schools are the focal point of communities, it’s about so much more than pupils being educated, it allows parents to come together, it feeds the parish and serves as a vital conduit for Gaelic games,” the North Wexford TD pointed out. “Close those schools and all that is lost. It would be unforgivable,” he said. “Parents and teachers need to be vigilant about this and fight plans to allow it to happen.”

Banks Need To Throw A Lifeline To Small Businesses

ellen — Mon, 01 Mar 2010 13:02:11 +0000

Banks are continuing to refuse loans and even overdrafts to business customers, putting their future in jeopardy. That’s according to Fine Gael T.D. Michael D’Arcy who says he’s been contacted by a number of concerned business people in north Wexford who are extremely frustrated at the banks’ lack of flexibility.

“The Banks need to cut small and medium-sized business owners some slack and begin extending them credit again to allow them to continue to operate and grow,” Deputy D’Arcy said, adding that in some cases even overdraft facilities have been cut to business customers who traditionally had no problem having such credit extended.

“Gorey has a very strong retail and service sector which we’re dependent on for jobs. We must have better credit facilities for such businesses. With over 3,600 people now unemployed in the Gorey area it has to be a priority.”

“It’s particularly galling given the huge bailout the banks got when they were in difficulties,” the North Wexford TD continued. “The Government, if it is serious about stimulating the economy and saving jobs, never mind creating new ones, must direct at once that the banks start lending again to this sector. Otherwise many of them will go to the wall,” he concluded.

D’Arcy slams Gorey Methodone Clinic Plan

ellen — Mon, 01 Mar 2010 12:50:19 +0000

A decision by the HSE to locate a methodone clinic in the new Gorey civic centre has been slammed by Fine Gael T.D. Michael D’Arcy.

“I’m totally opposed to it, it’s just not on,” he said. “This is no kneejerk reaction to the provision of this service,” he explained, adding “I know from talking to people in other towns where methodone clinics are provided that they have presented serious social concerns for the local community. The civic centre will house the town’s new library which will mean a lot of traffic, including children. The Council offices will similarly have a large number of daily visitors. I feel strongly that the location of a methodone clinic there is ill-advised, misguided and wholly inappropriate.”

Funding for icy roads needed - D’Arcy

ellen — Mon, 01 Mar 2010 12:43:39 +0000

Fine Gael T.D. Michael D’Arcy has warned that the failure to fund measures to tackle dangerous roads is threatening lives across Co. Wexford. Deputy D’Arcy said that local authorities claim to have run out of funding while severe weather warnings are still in place and the time has come for central Government to act.

“Treacherous roads have already claimed lives at the weekend in other parts of the country and this will continue to be a threat as long as severe weather conditions prevail. Despite the ongoing warnings of bad weather, local councils are not managing to do their jobs in making icy roads safe for motorists. This seems to be because funding has run out at a time when it is critical that councils have the resources to put in place essential road safety measures during adverse weather conditions, like the gritting of roads.

“It is not good enough to just ignore this problem when lives are being lost and more are threatened as forecasts continue to warn of severe weather,” Deputy D’Arcy continued. . “It is time for central Government to act and I am calling on Environment Minister John Gormley to recognise that emergency resources are needed before more families are devastated by tragedies on our roads.”

D’arcy Welcomes Establishment of a Dedicated Garda Drugs Unit

admin — Thu, 19 Feb 2009 18:15:32 +0000

The establishment of a dedicated Garda drugs unit for County Wexford is broadly welcomed by FG TD Michael D’Arcy.

“The need for such a dedicated unit, to operate right across the county, has been patently obvious for some time,” Deputy D’Arcy said. “There isn’t a town, village or small community that hasn’t been affected by the scourge of drugs,” he said. “Drug pushers are operating right across this county and the public’s perception is that they are operating with impunity. Hopefully this special drugs squad will be successful in tackling those who seek to destroy lives by getting people hooked on drugs,” he added.

Deputy D’Arcy stressed however that it’s important that the new unit will be adequately resourced and staffed to ensure its effectiveness.

Vital Funding Lifeline to Sports Clubs Cut

admin — Thu, 19 Feb 2009 18:04:51 +0000

Cutting a funding lifeline for dozens of Co. Wexford sporting clubs and organisations is “mean spirited” and “a huge blow for sporting endeavour” according to Fine Gael TD Michael D’Arcy.

Deputy D’Arcy had warned previously that the Sports Capital Grants programme was likely to be a casualty of Government cuts. It was announced on Thursday last that no funding will be allocated under the programme this year.

“Sporting clubs and organisations right across Co. Wexford depend on this funding for vital development works and they will be devastated by the news that funding has been cut. 25 sporting clubs and organisations in Wexford were allocated a total of €1.1 million under the Sports Capital Grants programme last year. Many clubs and groups will have put considerable effort into making application for grant aid this year and all for nothing,” Deputy D’Arcy said.

“There are better ways the Government could save money without penalising sporting clubs and organisations which are run entirely on voluntary effort. It’s just so short-sighted,” he said.