Co. Council Diary 02/07/17 : the chronicle.ie

Co. Council Diary 02/07/17

| July 2, 2017

fionntan-o-suilleabhain cmyk

Could MalFionnomics be answer to Wexford’s Third Level prayers

The push for a third Level Institution for Co. Wexford is being stepped up a notch with local politicians now attempting to take the initiative back from the waring vested interests of Carlow and Waterford whose turf wars are seen as a major obstacle to any progress on the matter.

Council members decided at their June meeting to set up a special sub-committee to tackle the issue head on and it follows their backing for the establishment of a Third Level facility at the old St. Senan’s Hospital a month earlier.

At that time Paddy Kavanagh——-as he has said repeatedly since his election to the Chair a year ago———emphasised the need for a facility to educate people in the trades. With a growing economy tradesmen/women are in short supply and the need for them will only increase in the years ahead.

And the land around St. Senan’s would also provide an opportunity for an educational facility to become a world leader in the area of smart farming, those backing the proposal believe.

Well after the June gathering of councillors the task force can march forward with another powerful string to their argument and one which will not be matched by any other educational facility in Ireland Europe, or indeed the world.

Not only could St. Senan’s turn out well educated apprentices and smart farmers it could also become the leading business school in the western world teaching two brand new economic theories which have been created in Wexford.

Malconomics is a brand of economic thinking created by Fianna Fail’s Malcolm Byrne while Fionntanenomics is the brainchild of Sinn Fein’s Fionntan O’Suilleabhanin.

As you can imagine both adopt a completely different approach to the subject of taxation and service provision but on closer examination you can establish that both theories achieve a remarkably similar result and one which could transform the economies of every country in Europe.

They could be embraced by the left, the right, the hard left and the hard right as well of course as the centre ground. You could see political parties building up huge majorities on the back of a mix of Malconomics and Fionntanenomics as the public embraces a wonderful world of better services, improved economic activity and almost no taxation.

Fionntan and Malcolm have been airing their various views of economics in the relative backwater of the Gorey Municipal District Chamber for some time but at the June  meeting of the full Council they brought their programmes centre stage at Co. Hall.

Some of their colleagues who did not have the benefit of a crash course in either set of economics were left a little bewildered as they tried to get up to speed on how each set of principles worked, so let’s do a little explaining.

The first thing to be said is that each man thinks the other’s theory is crazy, looney, and un-workable. However, in reality they do not seem to be far apart at all.

Malcolm believes a small increase, say 5%, in the Local Property Tax, can provide the basis (and the cash) to transform the local economy. You can develop economic hubs, create financial services centres, and improve playgrounds, anything you want. Fionntan suggests this is an illusion and the Property Tax cash has been turned into a sort of ‘funny’ money concept with all sorts of developments being magiced up on the back of it.

|Fionntan voted against the 5% increase in the Property Tax last year but is still one of the strongest advocates of spending money on a whole variety of projects, particularly in the North Wexford area where he harvests his votes. Malcolm is dismissive. Fionntan does not support raising the money but somehow expects to be able to spend it, he claims.

In a nutshell that’s it. Now perhaps it’s time these two very wise men sat down and tried to come up- with a combination of their economic principles. They would call it MalFionnomics and maybe even get James Brokenshire to act as an honest broker to get the talks over the line.

What would this new economic formula look like? Well it could take one of two forms. It might involve very modest increases in the Property Tax to get all sorts of services, but Fionntan would hardly buy that or it could involve a really big hike the tax in return for the abolition of virtually all other taxes because given the ‘magic’ nature of a euro raised by a Property Tax increase it can reach places other taxes have failed to find their way to for years.

Eitherway this magic economic formula could not only transform Wexford but if adopted nationally and across the EU could transform the lives of ordinary people.

So that could be the silver bullet that Wexford has been looking for in its quest for a Third level education Institution: The St. Senan’s School of MalFionnomics.

And it will be no disadvantage at all that the building was previously a psychiatric hospital.

Category: Featured Articles, News