New free market think tank launched - The Hibernia Forum

Brendan Burgess

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About time we had some group to challenge the left wing viewpoint in Ireland.

The Hibernia Forum is an independent advocacy group dedicated to the principles of a free market, individual liberty and responsible and prudent Government. It seeks to build on the natural entrepreneurial instincts of Ireland and its open and progressive economic atmosphere, and attraction to foreign inward investment.

Specifically, the Hibernia Forum calls for a restraint and accountability in Government spending, reasonable and fair taxation, as well as support for small business and entrepreneurs. The Forum seeks to enhance the competitive atmosphere in which both smaller and larger employers and job creators can operate.

Most of all, the Hibernia Forum calls for honest and fact-driven debate about our society and economic situation and a balancing of the public discussion in favour of those who do not believe that a high-spending State is the solution to all our problems.

The aims of the Hibernia Forum are:

  • Prudent and responsible Government spending
  • A free and supportive atmosphere in which enterprise and commerce can flourish
  • Reduced taxation
  • Greater personal responsibility, as opposed to reliance on the State
  • Greater efficiency in Government operations and services
  • More honesty in public debate
  • Greater civic involvement in political decision-making
  • Support for Ireland’s low corporate rate, and the conditions which make the country competitive and attractive to foreign direct investment.
  • Support for the reform of our welfare system, and for the encouragement of people to return to the workforce, where possible.
The executive Director of the Forum is Eamon Delaney. He is an author, commentator and former diplomat.

The Chairman of the Forum is Cormac Lucey. He is an accountant, commentator and former Government adviser.

The Forum has a further founding group of other individuals. They are all passionate about the Forum’s ideas and principles and represent a cross section of Irish economic and political life. These are as follows:

  • Aidan Brophy, real estate surveyor and former National Executive member of Fianna Fail.
  • Joe Lawlor, equity analyst/investor and member of Fine Gael.
  • Aaron McKenna, businessman and commentator.
  • Conor McWade, businessman, former member of the Progressive Democrats, now a member of Fine Gael.
  • Keith Redmond, dentist and small business owner. Fingal County Councillor (Fine Gael).
  • Sarah Ryan, businesswoman and former Dublin City Councillor (Fianna Fáil).
 
Free market with supports for small businesses and entrepreneurs? So not really a free market then.......

Why is ok to say individuals should be become more self sufficient rather than rely on the State but the same argument isn't used for companies who don't even pay the 12.5% corporation tax because of various tax breaks and incentives.
 
Sounds like a breakaway group from Renua!!!

A counter weight to the Nevin Institute but I wonder will they get anywhere near the same media time that the Reds get
 
Sunny said:
Why is ok to say individuals should be become more self sufficient rather than rely on the State but the same argument isn't used for companies who don't even pay the 12.5% corporation tax because of various tax breaks and incentives.
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Sorry, I'm lost here. Can you explain?
 
Brendan Burgess said:
Specifically, the Hibernia Forum calls for a restraint and accountability in Government spending, reasonable and fair taxation, as well as support for small business and entrepreneurs.
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Brendan Burgess said:
  • Support for Ireland’s low corporate rate, and the conditions which make the country competitive and attractive to foreign direct investment.
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Sunny said:
Free market with supports for small businesses and entrepreneurs? So not really a free market then.......
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It's a good question. I presume that they do not mean financial supports. They are having a press conference tomorrow and if I attend, I will ask them to clarify that point.

As I understand the free market philosophy, they want low taxes, low regulation but no financial subsidies - I have heard the term "corporate welfare" used, which I understands means the likes of grants to companies to set up in business.

Brendan
 
While it's certainly good to see a new Irish think tank being established with an alternative viewpoint, I would be curious to know who is funding their operations. While they describe themselves as being an "independent advocacy group", he who pays the piper...
 
Many thanks.

I know the Nevin Institute is quite upfront about the fact that they are funded by a number of trade unions.
 
Cormac Lucey, the Forum's Chairman, has written a great article in the Sunday Times about ending the housing crisis.

It is reproduced on his blog:

http://cormaclucey.blogspot.ie/2015/09/noonans-wrong-to-blame-central-bank.html

Noonan’s call for a change in the mortgage finance rules may make for good politics. It suggests any problems in the housing market are principally the result of poor Central Bank decision-making. But is Noonan’s implied criticism of the policy justified? I don’t think so. Making it easier to get a mortgage won’t help those renting or those seeking social housing.


...


In any event, most mortgages are advanced to secure the purchase of existing, rather than new, homes. Last year, according to Department of the Environment statistics, for every euro lent by an Irish bank to buy new homes, more than six euros were lent to buy existing houses. So easing mortgage credit availability is more likely to feed an increase in the prices of second-hand houses than increase availability of new ones.

...

The government should remove one-off taxes on house sales and shift the burden of those taxes on to the annual property tax, and thus onto the cost of owning a home. It should also abolish all council levies on house construction. This has become a racket whereby local authorities can pocket up to €60,000 per new house. Similarly, stamp duty on property sales should be scrapped and, again, rolled into the ongoing property tax. Consideration should also be given to a tax on derelict sites in areas already zoned for housing to spur activity further.


Then there’s the thorny question of repossessions. The OECD recently said that “the repossession of collateral on non-performing loans is inefficient”. It wants authorities to accelerate through the courts “the resolution of non-performing loans that require repossessions”. Raising the tally of repossessions would have a beneficial side effect of freeing up additional properties for sale.

The problem with all these measures to improve housing supply is that they are unlikely to produce any discernible benefits in the short term, certainly not this side of the general election. So, if you’re a finance minister under pressure to deliver now, it’s easier to point the finger at the Central Bank than to accept any blame for the crisis in the sector.
 
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Somebody in the Sunday Times suggested that capital gains should be taxed at the full marginal rate of 51% (58% for public servants) and that thresholds for inheritance tax should be abolished and the CAT rate should similarly be increased to 51%(58%) . We need the likes of this new Forum to put a stop to that sort of commie nonsense
 
I see RTE are reporting that this group is funded by "entrepreneurs". Sounds very vague to me.

RTE are also reporting that they have consulted with "like-minded groups" such as Americans for Tax Reform (ATR). ATR were founded in the 1980s by supporters of Ronald Reagan and oppose any efforts to increase taxes on individuals or businesses as a matter of principle.
 
Another example of using statistics to prove a point without any analysis of the underlying reasons as to "WHY"! Sale of 2nd hand homes in 2015 in Euro terms were six times greater than sale of new homes. QED - more demand for 2nd hand homes.
However, this presumes an equality availability of both new and 2nd hand homes which was patently not the case. Had there been an equal availability of new and 2nd hand homes this ratio would surely have been completely different!
 

Great to see someone willing to make that case. There's certainly enough of a lobby (much of it directly or indirectly State-funded) arguing for the opposite.
 
Sunny said:
Free market with supports for small businesses and entrepreneurs? So not really a free market then.......
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I asked about this at the press conference. They were surprised at the question. It does not apparently mean giving cash to them. It means improving the business environment. Reducing taxes including VAT and reducing red tape.
 

I asked this at the press conference and they said that it was funded by individuals and business people. However, they have received very little funding, so far as they have had very little expense so far. They will not be disclosing the donors,although some of the donors may themselves choose to say that they donated.

I asked Eamon Delaney a bit more about it afterwards. They have got some donations in excess of €1,000. They have received no donations from overseas.

I don't think that they will become like a Nevin Institute with offices in Dublin and Belfast and 6 or 7 employees.

Brendan
 

Thanks for that Brendan.
 
Sarenco said:
But from what I've read, I suspect the Forum members would simply dismiss me as a bleeding heart, pinko liberal!
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I don't think so. They want to expand the debate from the only solution being the state spending more money to people taking personal responsibility. I didn't see much disparaging, as distinct from criticising, the conventional socialist solutions.
 
That's good to hear Brendan.

A plurality of ideas and perspectives has surely got to be welcomed. We have a tendency, in my opinion, to coalesce a little bit too quickly around consensus opinions in this country. Even if we find ourselves ultimately adopting a centrist, or even conservative, position on a particular issue it is never a bad thing to have to debate or justify that position.

I wish the new Forum well even if I suspect I will rarely agree with their proposals. Who knows, they might convince me otherwise!
 
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