Boom time for them, but we pay the price

THE high price of building land has brought joy to our political and business elite without even a thought for the ordinary people who will eventually have to fund the cost of record land prices.

The cost of the average new home is 10 to 12 times the average industrial wage, and up to 20 times the annual minimum wage. This is just the capital cost; with interest repayments over 20 to 30 years, it would be much more.

The high cost of retail/ industrial rents also increases prices of everyday items.

Business organisations and employers’ groups are able to pass on higher costs to customers while also lobbying government for wage restraint. How can they possibly ask the average person to compete with immigrant workers when he or she has to pay €250,000 to €300,000 for an average town house and high prices for just about everything else. For example, basic things like visiting a GP or dentist are becoming a luxury.

While this is happening, property owners/speculators, bankers and financial services have never had it so good. So when the business elite dip into their well-padded pockets to fund our dominant political parties for their next election campaign, they can pride themselves on a job already well done, for they have chosen their gombeen men well.

Patrick J Fitzgerald

Leperstown

Dunmore East

Co Waterford