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 Approx 21%, or 735,000 Irish Adults have an average of €70 left each month after essential bills are paid. Significant numbers of Irish people no longer see a future for themselves or indeed their families here in Ireland according to the Irish League of Credit Unions.
The Irish League of Credit Unions has announced the launch of a new disposable income tracker index called the ‘What’s Left ‘ Index.
Irish League of Credit Unions (ILCU) CEO Kieron Brennan said: “It has become more and more apparent that many Irish families are seriously struggling in what are very difficult financial times. We have just seen an ECB rate increase last week which is likely to push families and individuals further into mortgage difficulties and arrears. In the mean time increasing mortgage rates combined with increasing fuel costs, the introduction of the universal social charge and cuts in social welfare means that 2011 will be one of the most difficult years for the Irish population in terms of money management.”
Mortgage and rent are seen by 72% as the largest / most important bills for respondents. This is followed by utilities 55% and groceries 51%. While Transport / car 26%, loan repayments 25%, credit cards 25% and health insurance 24%, were all ranked at a similar level of importance.
Approx 19% of Irish adults have between 6-10% left while a further 27% of respondents have 10-20% or just enough of their income left over, having paid for all their essentials. Only 20% have more than 20% left over, which is enough to enjoy themselves.
Nearly 1 million people or 83% of people, who have less than 5% of their income left over, worry about how they will cope if unforeseen expenses arise.
Worst possible finding however revealed that 30% of Irish people believe that with any further changes to the minimum wage they would be better off not working.
The survey was conducted by Market Research Company iReach during the period of 24th March to 1st April using the iReach Consumer Decisions Research Panel which delivered 1,000 responses from adults in Ireland aged 18+ to 65+ and is nationally representative by Age, Region, Gender and Social Class.
 Love Awakened by Giovanni Battista Lombardi. One of Ireland’s finest and most valuable private collection of art and antiques, from the estate of the late Dr Anthony Ryan is to be broken up and partially sold at auction, by Christie’s of London. Objects to be sold will go on view in a special pre-sale exhibition at the Village at Lyons near Celbridge, Co Kildare, for three days, from Friday, 20th May next, with the final sale date in July, expected to realise in excess of €2.24 million.
This sale features 400 lots from his personal private collection of over 2000 pieces of European fine and decorative art, which spans the 18th, 19th and 20th centuries and include paintings, sculpture, furniture and tapestries from his home at Lyons Demesne, near Celbridge, Co Kildare.
One object to go on sale is his marble sculpture, La Revelación de Amor (Translated ‘Love Awakened,’), circa 1870, by Italian sculptor, Giovanni Battista Lombardi, (1823-1880), which on it’s own has an estimated value in excess of €40,000.
Born here in Thurles, County Tipperary, Dr Thomas “Tony” Ryan (2 February 1936 – 3 October 2007) was an Irish multi-millionaire, philanthropist and businessman.
Educated at the CBS in Thurles he began his working life with Aer Lingus, before going on to found their aircraft leasing arm, during the quieter winter months.
In 1975, he founded Guinness Peat Aviation (GPA) the Commercial Aircraft Sales and Leasing company which he set up in 1975 with $50,000 (Today’s value in Euro €34,500), as well as being co-founder of Ryanair with Christy Ryan and Liam Lonergan. Ryanair was believed to be the main source of his wealth in later life and the company is now one of the biggest airlines in Europe, valued at several billion euros.
A patron to numerous local and Irish charities, Dr Ryan was believed to have a accrued personal fortune ranging between €800 million to €1.5 billion and held honorary doctorates from several Irish Universities, including Trinity College, Dublin, the National University of Ireland, Galway and the University of Limerick.
Dr Ryan over the years helped nurture two successful business protégés – Denis O’Brien and Michael O’Leary, both of whom became multi-millionaires.
 Taoiseach Enda Kenny Taoiseach Enda Kenny told the Dáil yesterday that the Government does not intend to raise further taxes, as any part of the governments new job creation package, now expected to be unveiled in the coming weeks ahead.
Good news also for Tipperary recipients of the National Minimum Wage. The Minister for Enterprise Richard Bruton has announced that the Government will reverse the cut in the national minimum wage, imposed by Fianna Fail, in a revised deal with the EU-IMF to be published this coming Friday. The Government together with the IMF, European Commission and ECB, will publish a revised Memorandum of Understanding on Friday next.
Richard Bruton stated the Government now plan to introduce legislation to restore the minimum wage from €7.65 per hour to €8.65 per hour by this summer. However, the Minister stated that in return there may be changes to existing registered employment agreements, which give workers in the low-paid sectors, various rights, including higher pay for Sunday and bank holiday work. Mr Bruton further stated that this reversal had the backing of the IMF and insisted that any new laws introduced would further improve our competitiveness in the Irish economy.
Finance Minister Michael Noonan and Brendan Howlin, latter Minister for Public Expenditure and Reform, yesterday met senior officials from the joint EU-IMF mission at the Department of Finance. Their meeting focused on discussing a draft of the revised memo, prepared by the IMF, European Commission and ECB officials, following a week of further research and discussion.
 The mechanical and electrical sub-contractors, Michael J Tierney and Edward Clancy Electrical, respectively have now been appointed for the works involved in the construction of the two-storey enterprise centre at the Tipperary Institute Campus, Nenagh Road, Thurles.
The plans involve the connection to public water supply and foul and surface water mains, new storm water attenuation system, signage, use of existing entrance and all associated site works.
Main construction work commenced on this site during late February, with the contract period estimated at approximately nine months.
The architect is DH Ryan, the consulting engineer, PJ Brett and Associates and the main contractor is Clancy Construction.
Clancy Construction has been in construction and development since the 1940’s. Originally a traditional family business, the company now employs in excess of 250 full-time employees and develops large scale projects nationwide. The company, which has its Head Office in Thurles as well as offices in Cork, Waterford and Dublin, have vast experience in commercial, public sector and residential development.
The estimated cost of this completed project, in Co Tipperary, is €1.4 million.
 It’s April 10th 2011 and the sun is beaming brightly over our Tipperary landscape, spreading 21°C of warmth, on this the 3rd anniversary of the visionary prediction’s of Fianna Fáil’s Mr Donie (Daniel) Cassidy, who in 2008 warned the Irish Nation that house prices would increase by at least 25% higher than then existed in 2008.
Happy ‘Donie Cassidy Day ‘ to all you property speculators, who now feel that those of us who were careful with our spending, should now pay for your extravagances.
From a local perspective, a report in the Irish Independent claims that Tipperary North TD Michael Lowry has been at it again, striking secret deals with two former Taoisigh. During his time propping up the Fianna Fáil governments of Bertie Ahern and Brian Cowen, the Tipperary North TD was given the task of doling out three positions on State Boards to his favourite supporters. Of the Ministers in cabinet at the time, only the two Taoisigh knew the full details of these special deals. Mr Lowry defends controlling these three posts he was allocated. It appears that unlike the filling of other public situations vacant, a nod and a wink from a politician can replaced PublicJobs.ie and the usual basic requirements to attend for interview with updated Curriculum Vitae.
Speaking of salary’s and expenses, readers note that more cuts to Social Welfare look likely, after Department of Finance briefing documents indicate that savings will have to be made on welfare expenditure. The documents are understood to state that there is little justification for high earners receiving social welfare, through children’s allowance. Payment of half-rate Job-seekers Benefit or Illness Benefit to recipients of One Parent Family Payment will also come under the microscope. Social Welfare accounts for almost 40 % of all money spent by the Irish state, with €20.6 billion now set aside for social welfare expenditure this year. Meanwhile the head of Eircom will continue to receive his salary of approx €720,000 this year, head of Anglo Irish Bank, latter which lost €17 billion in 2010, will be paid approx €974,000, head of Rehab will receive around €450,000, and head of Aer Lingus will receive -well who really cares knows or cares anymore.
Other Good News.
There is however good news for 30,000 over taxed daily motorists using Dublin’s Phoenix Park. In an effort to impress Queen Elizabeth II, the Office of Public Works is to spend €92,000 to fix the gaping potholes. Rural commuters expect delays as this urgent work begin on Monday lasting for eight to ten days. Gaping craters in Tipperary have not as yet been deemed sufficiently matured enough, to warrant any immediate attention.
One bit of other good news for some lucky individual, this weeks ‘Mid-week Lotto ‘ is heading for €4.5m.
Take risks… if you win, you’ll be happy… if you lose, you’ll be wise.
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