Friday 21 October 2016

Reasons to be cheery? It's not what I'm hearing

Published 04/01/2013 | 05:00

• I am so angry listening to the radio and reading the papers about the great improvement in property prices and the optimism about the economy.

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No one wishes for optimism more than me, with four children who have huge mortgages.

But over the past week I am hearing the complete opposite.

My granddaughter was lucky to get a Christmas job in a store in the city (she is in university), the manager told her they had the worst Christmas Eve ever, down 50pc. One of my local shops closed on Christmas Eve – they have been trading since we moved to the neighbourhood over 40 years ago. Four people in a sports club I am in told me they will not be renewing their membership as they cannot afford to. My son went to Donegal, he said Bundoran is a ghost town.

In yesterday's Irish Independent it was reported that 200 of our wonderful young people are going abroad every day.

The last Budget has put the nail in the coffin of the building industry: if you improve your property, you will pay more property tax. Considering the numbers of people on the dole from the building industry, that was a real help in creating jobs.

The property tax is another attack on jobs; my daughter paid almost €80,000 in stamp duty and my son paid almost €50,000 and now they have to pay a property tax, which will have a devastating effect on shop trading.

Of course I want to hear good news if it is happening; but I wonder if something else is going on? If property prices are going up that means a higher property tax. The properties in my area are down at least another 10pc on 2011 values, overall they are down close to 70pc since the boom.

Maybe one area in Dublin 4 is doing well and the optimism is coming from there.

Maureen McGuirk
Glasnevin, Dublin 9

Irish Independent

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