Frugal Irish ready for $20 billion payback
Over a million people in Eire could benefit from
a windfall payment of about $20 billion from a government saving scheme set to
mature at the end of May.
Over a million people in Ireland could benefit from a windfall payment of about £11bn ($20bn) from a saving scheme set to mature at the end of May.
More than half of Ireland’s adult population own a Special Savings Incentive Account (SSIA), which was launched five years ago in May 2001.
Many of those who regularly put money into the government scheme since it started could get up to $24,000 each.
For every amount placed in the special savings account, a further 25% was contributed by the exchequer and deposited directly to the recipient’s account.
In effect, this meant for every 4 euros saved each month, an additional 1 euro was deposited, making it a generous scheme.
Individuals could put in a maximum monthly subscription of about $323.
Look at the dangerous priorities of the Irish government. Here they are providing a short-term means of earning interest for the majority of the working citizens of that nation — instead of building an exploding deficit by giving back tax revenue to the wealthiest individuals and corporations.
Why won’t they follow America’s leadership of the Free World?
Posted: Mon - May 29, 2006 at 06:38 AM