Thursday 19 April 2018

Let's share the wealth when banks go back to market

Citizens should get shares which they can sell as institutions recover their value, writes Willie O'Dea

According to business mentors the key to success for a new enterprise is: don't just copy an idea, try to improve it.

Maybe the person writing Enda Kenny's College Green speech was unaware of this mantra. Even if they were, they could be forgiven for choosing to lift the US president's script word for word, as it is doubtful it could have been improved on.

The pity is that others in this Government do not look to equally good sources when lifting ideas. Such is the case with the 0.6% levy. I have trawled the records to find a precedent for it. The closest I could find was Ray MacSharry's 1988 levy on the capital gains of pension funds -- though that was a levy on profits, not capital.

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