We did highlight this issue almost two years ago. And who is going to own these ghost estates? NAMA mostly – that’s us.
Author: Gavin Sheridan
That sign-in thing
So some cheeky journalist has apparently sought details of how often Members of the Oireachtas actually go to work. It is expected to be released around now. One Member of the Seanad was not happy about this at all though. Senator Michael McCarthy (Labour) said [emphasis mine]:
There has been a huge chipping away at the terms and conditions of Deputies and Senators and at those of their colleagues on cash-strapped local authorities. After the introduction of the swiping system on 1 March, one would have imagined that journalists’ appetites regarding where Members are and what they are doing would have abated somewhat. However, a freedom of information request has been made, the response to which, incidentally, will cost the State money, as to how many people swiped and how often they swiped for a two-week period in March. Given the enormous economic difficulties faced by thousands of people, one would imagine that journalists’ time would be better spent in concentrating on the real issues.
Ah yes, the real issues. Down with those media types, trying to bring greater accountability to the parliament.
For my own purposes, I will be seeking the results of that FOI, writing a fresh one, and then possibly integrating attendance records into KildareStreet.com. I wonder what Mr McCarthy will think of that.
Terrible costly for the Oireachtas to click a few buttons, and export a spreadsheet, so it is. I do have another FOI in with them which has been extended by four weeks. More on that later in May.
Export subsidy data
I’ve been messing around with the €457m Irish milk export subsidy data from 2001 to 2009. I’ve created a pivot chart of the data here:
Most of the milk export subsidy claims related to Morocco, at 11% or €51m.
Georgia (Republic of) has been changed to its capital, Tbilisi. This will make it easier to map later, as Google thinks Georgia is the US state.
Export subsidy payments
This dataset contains €457 million of export milk subsidy payments made between January 2001 and December 2009. It was requested from the Department of Agriculture. The dataset contains the name of the country to which it was exported, the date of export, the weight and the amount claimed.
I also sought the names of all companies which received subsidy payments, but this was refused under Section 27 (1) (a) and (b) of the FOI Act (Commercially sensitive). I disagree with this decision and will be appealing.
This request was carried out partly on behalf of the good guys over at followthemoney.eu.
I have also included subsidy payments (about €22m) in relation to sugar over on Google Spreadsheets.
Anglo strangeness
There’s something awfully odd about this.
Just what is Anglo Irish JCF 1 LLP?
It was incorporated in the UK in October 2008, and members were appointed as follows:
LLP MEMBER APPOINTED SEAN FITZPATRICK
16/09/2009 LLP288a
LLP MEMBER APPOINTED PAUL COULSON
16/09/2009 LLP288a
LLP MEMBER APPOINTED EUGENE POWER
16/09/2009 LLP288a
LLP MEMBER APPOINTED CAROL WRIGHT
16/09/2009 LLP288a
LLP MEMBER APPOINTED BERNARD MCNAMARA
16/09/2009 LLP288a
LLP MEMBER APPOINTED DAVYCREST NOMINEES LIMITED
16/09/2009 LLP288a
LLP MEMBER APPOINTED ANGLO IRISH ASSURANCE COMPANY LIMITED
16/09/2009 LLP288a
LLP MEMBER APPOINTED BENTICO TRADING LIMITED
16/09/2009 LLP288a
LLP MEMBER APPOINTED DONAGH BARRY
16/09/2009 LLP288a
LLP MEMBER APPOINTED MICHAEL CARMODY
16/09/2009 LLP288a
LLP MEMBER APPOINTED GARY MCGANN
16/09/2009 LLP288a
LLP MEMBER APPOINTED JOHN SISK
16/09/2009 LLP288a
LLP MEMBER APPOINTED JEREMIAH O’REILLY
16/09/2009 LLP288a
LLP MEMBER APPOINTED RADICAL PROPERTIES LIMITED
16/09/2009 LLP288a
LLP MEMBER APPOINTED GERRY BARRETT
16/09/2009 LLP288a
September 2009? Eh?
As far as I can tell Bentico Limited is run by William McCabe, formerly of Skillsoft/Smartforce. Radical Properties is a company based in Galway, directed by Gerry Barrett. Donagh Barry appears to be of the Barry’s Tea family.
But what is Anglo Irish Assurance Company doing there? I believe it is a wholly owned subsidiary of Anglo, the bank we now own. And it was becoming a member of Anglo Irish JCF?
DocumentCloud
We are pleased to be joining a rather illustrious list of document contributors, including the Huffington Post, the New York Times and The Atlantic, to the beta of DocumentCloud. I believe we are the first Irish contributors.
We have been using Scribd.com for third party document storage for some time, and while it has its uses, it lacks many of the journalistic features we need. DocumentCloud are adding features, and taking feature requests.
We will be testing DocumentCloud over the coming months, so you may see a switch away from Scribd.com.
Eurostat documents – Ireland
I’ve taken all of the letters and documents from the Eurostat website in relation to NAMA, and OCRd them for posterity. To make things a little easier for searching, I have combined a series of letters, and the results of two Eurostat visits to Ireland. There are some gems in the documents.
One of my favourites is this one. In the appendix to the letter, under Risk Analysis, it says, my emphasis: (MV is Market Value)
There are two main linked areas of risk, which relate to uncertainty about the current and future state of the property market in Ireland and worldwide:
a) Prices will continue to fall below the purchase-date MV.
b) The adjustment factor applied to the MV to obtain the LTEV is too large, so that the market will not recover sufficiently to allow the assets acquired to be sold for at least the purchase price.It is difficult to quantify the level of risk involved in (a) and (b) above. However, NAMA have been advised that, while there may be some short-term fall in MVs after assets are purchased, ‘based on capital values, the bottom has been reached in the US, UK and Europe’, and in Ireland ‘the market expects that the bottom may be reached in the last quarter of 2009 or the first quarter of 2010.’
Based on the available expert advice, NAMA and the Department of Finance have concluded that NAMA will be profitable over its expected 10-year lifetime, estimating its net present value at some €6 billion.
Eh, no. NAMA have locked in values at November 2009 levels, and prices have continued to fall since then. And in my opinion prices will continue to fall for another 18 months at least. But then back in 2008 when I was out taking photos of ghost estates a good 18 months before the media realised their import, and even before that whole Lehman Brothers thing, it was clear prices had a long way to fall, despite the best efforts of property shills telling us now was a good time to buy, and we were near a floor in the market.
And when many of the loans NAMA is taking on had no collateral to back them, 33% of them in the case of Anglo, then even the increase in the value of any lands or properties within NAMA won’t bring us a profit. It can only bring us a loss.
FOI logs
I will be publishing all logs I receive in both PDF and spreadsheet format, where possible. For now I have two FOI logs, one for the Department of Health and the other for the Department of the Taoiseach. I will be adding to these in the future.
Department of the Taoiseach log 2006 to 2009 (spreadsheet)
Department of Health log 2007 to 2009 (spreadsheet)
There are many advantages to publishing logs, yet most bodies do not publish them. First it guides people as to what others request, which can help in drafting your own FOIs. Second it shows you what other people are asking for. Third it reduces duplication of requests, although strangely many Departments do not keep copies of releases, meaning further search and retrieval for documents that have already been released. I plan to FOI all logs for all the major Departments over the coming months, and later for all bodies. This will cover the period 1998 to 2009.
Eurostat
So it emerged total that thanks to the injection of €4bn into Anglo, our actual deficit is 14.3%, the highest in Europe.
I had a poke around Eurostat’s website and had a look at this document, dated March 31, 2010. These documents are I think issued every three or six months, and are based on statistics given by the Irish Government to Eurostat.
It’s interesting or a few reasons, so I have imported the first two tables into Google.
General Government net borrowing for 2009 is at €23.35bn. Of this most is from central government. But €2.4bn of it is social security. This compares with a social security net lending of €699m in 2006. In other words it would appear it has gone from plus €699m to minus €2.4bn in three years.
NAMA submission
I have made an additional submission to the Office of the Commissioner for Environmental Information in relation to NAMA’s status as a public authority for the purposes of the European Environmental Information Regulations:
NAMA have claimed that they are not a public authority for the purposes of the Directive. However in examining the decisions of the UK Information Commissioner I believe there are valid comparisons as to what constitutes a public authority. I will refer specifically to three cases of the UK Information Commissioner.
In FER0265609 the UK Information Commissioner decided that PhonePayPlus, a consumer protection body, formally designated by OFCOM to be the body responsible for regulating ‘Controlled Premium Rate Services’ was a public authority. It is a company limited by guarantee and a not for profit organisation.
PhonepayPlus did not accept that it was a public authority for the purposes of regulation 2 (2) of the Environmental Information Regulations. The transposition of the Directive has a specific element, Section 2 (2) (c): “any other body or other person, that carries out functions of public administration;”
In reaching its decision, the UK Information Commissioner took account of Parochial Church Council for the parish of Aston Cantlow and Wilmcote with Billesley v Wallbank and Another [2003] UKHL 37 and [2004] A.C. 546 in trying to define what factors must be considered:
Factors to be taken into account include the extent to which in carrying out the relevant function the body is publicly funded, or is exercising statutory powers, or is taking the place of central government or local authorities, or is providing a public service.
The Commissioner then considered each of these as basis for the decision:
The extent to which the body is publicly funded
The extent that the body is exercising statutory powers
The extent that the body is taking the place of central government
The extent that the body is providing a public service
The degree of Government control
The performance of regulatory functions
The next part of his analysis is to consider that whether those public functions are administrative. Only if they are will the organisation be covered by regulation 2(2)(c). This specifically relates to the administrative component of the Regulations. The Commissioner notes:
Administration can be regarded as being a component of executive power, distinct from both legislative and judicial powers. Administration can be visualised as the managing of power within the state apparatus and the achievement of a non legal goal through reliance on specific legal powers.
The Commissioner believed it can be described on the basis of relative characteristics:
(i) Administration is a ‘social arrangement.’
(ii) It is concerned with the public interest.
(iii) It is above all an active arrangement aimed at the future.
(iv) Administration takes ‘concrete measures for the regulation of individual cases’.
The Commissioner took account of O. Hood Phillips & P Jackson, Constitutional and Administrative Law(6th ed, London 1978) pp 50 et seq:
The executive or administrative function is the general and detailed carrying on of government according to law, including the framing of policy and choice of the manner in which the law may be made to render the policy possible.
The Commissioner also referenced Port of London Authority v Information Commissioner (EA/2006/0083) (‘Port of London’) in the following way:
1. The Authority has statutory duties.If the Authority did not fulfil those duties Government would need to task another organisation with them.
2. The Authority has to account to Parliament as well as to its shareholders.
3. The appointment of the Board is heavily influenced by the Secretary of State.
4. The Authority must report annually to Parliament on all its functions so there is nothing to suggest that some of them are regarded as private and the authority must give the Minister such information as he requires in relation to the exercise of any of their powers.
5. Some Ministerial approval for borrowing is required.
6. Appeal of licensing decisions is to the Board of Trade.
7. The Authority can act akin to a local or governmental authority.
8. The Authority can regulate others in a way that is over and above the way private companies can.
While NAMA may or may not fall under the administrative element of the EIR, it is important to point to the scope of bodies considered to be public in other jurisdictions, under the administrative element.
In relation to the status of properties owned or controlled by NAMA I would also point that in FER149772, the UK Commissioner found that:
…information relating to housing developments being built in any area is environmental information within the definition in regulation 2(1)(c). Social housing policies and plans to construct a housing development are measures likely to affect elements of the environment. These include the land and landscape and construction of a housing development which necessarily brings with it noise and potentially release of emissions and chemicals into its surrounding environment, therefore affecting the air, water and soil.
While this does not refer to properties owned or controlled by NAMA per se, it does specify how property information could potentially be environmental in nature.
It might also be noted that Eurostat, in a letter dated October 16, 2009, to the Central Statistics Office, said:
“NAMA is publicly owned and has as its purpose to conduct specific government policy… according to the decision of 15 July 2009 of Eurostat… it is to be classified within the general government sector.”