James Fanning - Independent Candidate for Laois/Offaly

JAMES FANNING - A NEW FACE FOR LAOIS/OFFALY

JAMES FANNING NEEDS YOUR SUPPORT

James Fanning is a local businessman from Birr, Co. Offaly.  He is Managing Director of Midland Web Printing and employs 40 people in the local area.  He feels that it is his duty to run for election to reverse the crisis that is facing our nation.  As a businessman he has experience in dealing with serious economic problems, "We don't need empty election promises, we need change".

James' main concern is the social injustice that is being caused by Government waste of public money and forcing the large bank debt on the taxpayer.  We will not and cannot allow our frontline services to be taken away.  This is the biggest issue facing the country and concerns everything we wish to do in the future, from social welfare, hospitals, fire stations, to the funding of town councils.

"We will cease to be a compassionate society if we cannot pay for basic services to the ordinary people of this constituency."

WHY ARE WE BAILING OUT THE BANKS WHEN THE MONEY COULD BE PUT INTO THE LOCAL ECONOMY?

* No more money should be put into the banks and bondholders should be forced to share the pain.

* Instead of money being put into the banks it should be put into the economy to help business grow.

* We cannot allow state assets to be sold off just to pay down interest on the country's bank loans.  No state assets should be sold off without the consent of the people.

* The current system allows no transparency, therefore I will be campaigning for a more open and transparent system.  The Senate must have the powers to set up a senate committee to vet any political appointees to semi-state bodies including the likes of NAMA.

James wonders why we are trying to save the European financial system.  "We are certainly getting no thanks, by the Germans or the French for showing our loyalty to a system that is showing none in return when it punishes us with punitive interest rates that they know we cannot repay.  They tell us that if we don't do this then we will be defaulting.  But how can it be a sovereign default, when the debt is not even owed by the taxpayer in the first place.  It is owed by the private banks and ultimately by the private European banks that had lent it to the Irish banks".

"We are now in a crazy situation whereby we are being lent money at punitive rates by the same people we are bailing out".

THE FUTURE?

The Government has borrowed enough money to last until 2013.  What are we going to do then?  At that stage it will be too late to restructure and instead of facing the closure of one or two private banks we will be looking at a sovereign default of the Irish state.

"This is why we must speak up!  Too many of us have remained quiet as we relied on our politicians to sort out the mess.  But they have made it worse as too many of them have been brought up in narrow parochial politics and are not equipped with the financial or business acumen that is required when dealing with a financial mess of this magnitude."

"I will fight to cut TDs/politicians salaries and pensions."

JAMES WANTS TO GET PEOPLE BACK TO WORK:

* Grant incentives for the unemployed to get back to work.

* Tax credit to companies to encourage re-hiring unemployed workers.

* Money that is being wasted on state agencies and quangos should instead be invested in new technical colleges and universities that will work hand in hand with business developing new ideas and products.

* Factories sitting empty should be offered rent-free for a period of time to encourage new business instead of going into NAMA and sitting empty.

"The correct strategies and decisions will have to be made if we are going to have enough money in the future to pay for basic fundamental services."

VOTE No. 1 JAMES FANNING INDEPENDENT - A NEW FACE FOR LAOIS/OFFALY



James Fanning on "Tonight with Vincent Browne"

Fanning says money shouldn't be wasted on banks & quangos

Offaly Independent
Friday February 4 2011

Independent general election candidate James Fanning has said this week that money shouldn't be wasted on banks and quangos.

"Again and again" said James, "I have been told by people how they are fearful and frustrated by what is happening with job losses, repossession of homes, and universal social charges that are crippling working families."

He said he feels very strongly that instead of money being wasted on banks, state agencies and quangos, it should be redirected to the economy.

Mr. Fanning pointed out that the banks' debt is private debt and should not have been forced onto the taxpayer.

"Bondholders should be forced to swap debt for equity and no more money from the state should be put into the banks.  If the EU is not willing to renegotiate the loans and continues insisting that we have to pay the bondholders, then we must threaten to leave the Eurozone and re-establish the punt," he said.

"In such circumstances we must make it known that the EU will carry the can for the banks and not us.  It will take a brave politician to do this, but it needs to be done."

He said new colleges should be established in Laois/Offaly.

"Outside Birr, for example, we have Gurteen College.  This could be expanded into a proper technical college based in Birr, which would help train graduates and work with local businesses aiding them to adapt new ideas and products."

He said as a country we need to put on our thinking caps and figure out the best way forward, saying established businesses that are struggling should be given assistance to stay open.  He also suggested a grant incentive for the unemployed, whereby companies can be encouraged to employ them with the costs split between the state and the company.

Mr. Fanning is interested in hearing peoples' views and can be contacted at [email protected]


General election candidate condemns banks

By Liam Collins
Sunday Independent
Sunday January 30 2011

Offaly businessman James Fanning, who announced last week that he will contest the General Election in Laois Offaly as an independent, says that he has been “aghast” at the behaviour of politicians and bankers.

He is running on a platform that no more money should be put into the banks and “all bondholders should take part of the pain”.

“If we cannot successfully renegotiate with the ECB in order to reduce the interest charges and cutting our exposure to bondholders, then we will have to look at exiting the euro area and re-establishing the punt,” Mr Fanning said.

“The last 12 months have left most of Ireland numbed and shocked by the debacle created by those that we would call the political establishment,” said the 36-year-old managing director of Birr-based Midland Web Printing, which employs 40 people.

Commenting on the political and financial meltdown Mr Fanning said: “It has been like watching a slow train crash where the participants are actually watching at the same time, screaming at the driver to stop or change direction. All our calls have fallen on deaf ears and this is what has infuriated me most.”


Birr Businessman Throws Hat Into General Election Ring

Birr businessman James Fanning has announced this week that he is throwing his hat into the General Election ring.

James is 36 years of age and is very well known in the South Offaly region. He is Managing Director of Midland Web Printing, which is based in Birr and employs 40 people, and has been aghast while watching the mistakes made by bankers and politicians during the recession.

James feels that new thinking is needed, the system needs to be reformed, and Ireland needs to become a proud country once again.

In a statement issued to the press this week he commented that, 'The last 12 months has left most of Ireland numbed and shocked by the debacle created by those that we would call the political establishment'.

'If my grandfather, the late J.I. Fanning had seen what we have just witnessed I am sure that he would have used a few expletives to
sum up the incompetence and inadequacies that has led to the current predicament that Ireland faces'.  'It has been like watching a slow train crash where the participants are actually watching at the same time, screaming at the driver to stop or change direction. All our calls have fallen on deaf ears and this is what has infuriated most'.

'Fianna Fail is in complete disarray, people do not know what to do or say. The rank and file that has loyally supported the party over the years does not know where to turn and this is the crux of the problem. By just voting for a new government it will not save us from the current disaster that has been imposed upon us. The banks' debts have been foisted upon this state without the consent of the people. There is therefore a moral question over the politicians' actions and there may also be the question of it being unconstitutional as the debt did not belong to the people but private institutions, namely the banks'.

James asked why have we been forced to bail out the banks? He wondered if it was to save the European financial system. 'We are
certainly getting no thanks,' continued James, 'by the Germans or the French for showing our loyalty to a system that is showing none in return when it punishes us with punitive interest rates that they know we cannot repay. They tell us that if we don’t do this then we will be defaulting. But how can it be a sovereign default, when the debt is not even owed by the state in the first place. It is owed by the private banks and ultimately by the private European banks that had lent to the Irish banks'.

'We are now in a crazy situation whereby we are being lent money at punitive rates by the same people who we are bailing out'.

'Last summer the Financial Times produced an article stating that the bank debts were going to be larger than the government was officially claiming. Namely that the losses of Anglo Irish bank were going to be €35billion. The Financial Times also stated that the Irish government should force all the bondholders to take a share of the pain and swap debt for equity. In effect the Financial Times was telling the Irish government to stop putting tax payer’s money into the banks and force a debt restructuring of the banks and the bond holders'.

James pointed out that the Irish government denied that the losses were as high and denounced the Financial Times as simply stirring the pot. Then two months later the government clearly admitted that the losses in Anglo Irish were indeed €35billion and as a result lost all confidence in the financial markets.

'The government,' said James, 'has borrowed enough money to last until 2013. What are we going to do then? At that stage it will be
too late to restructure and instead of facing the closure of one or two private banks we will be looking at a sovereign default of the Irish state'.

'That is why we must speak up. Too many of us have remained quiet as we relied on our politicians to sort out the mess. But they have made it worse as too many of them have been brought up in narrow, parish pump politics and are not equipped with the financial or business acumen that is required when dealing with a financial mess of this magnitude'.

'The opposition parties have made a big song and dance about renegotiation, but what they haven’t said is how they are going to do
this and what are the consequences if the ECB does not agree.' 'In such circumstances are they willing to leave the Eurozone and set up a new Irish punt? Because if they are going to be successful in their negotiations then they have to show Europe that they are
seriously considering exiting if the ECB continues to block the option of forcing senior bondholders taking a hair cut or swapping debt for equity in the banks'.

'Like my grandfather I have always been a very strong supporter of Europe and everything it stands for, but if our fellow European governments are not able to think as Europeans instead of their normal nationalist instincts, then we will have no choice but to look out for our own best interests'.

'The problem is that the current elections will again be fought on the narrow issues, which means that we won't be seeing the wood for the trees. We need to broaden out our minds in order to properly grapple with this huge problem that is affecting us.'

'This financial crisis problem is so big that it affects everything that we want to do now and in the foreseeable future. Many people have put forward the idea of a national government, but that can only work if we decide who are the best people to lead our country and not somebody who is steeped in parish pump politics and doesn't possess the broadness of mind and courage that is the mark of great political leaders. We have to put our country before our own self interests if we are to get through this'.
'In essence I am against narrowminded political cronyism that is open to manipulation by vested interests. I am instead in favour of
an open and honest system that reflects the views of the people'.

'To do this I believe that there must be more accountability and not less. Therefore the Senate must be given more powers and not be scrapped as suggested by Fine Gael. The Senate must have the powers to set up Senate committees to investigate the type of behaviour that it deems corrupt or against the national interest. It should also have the powers to vet any political appointees to semi-state bodies including the likes of Nama. It has recently come out in the media that one of the commercial legal advisers to Nama is also involved in the property speculation and owes tens of millions of Euros. This is obviously a conflict of interest and with a proper Vetting system by a senate committee this could have been checked'.

'Secondly, no more money should be put into the banks and all bond holders should take part of the pain'.

'Thirdly, if we cannot successfully renegotiate with the ECB in order to reduce the interest charges and cutting our exposure to bondholders, then we will have to look at exiting the Euro area and re-establishing the punt'.

'Fourthly, State assets will have to be sold off in order to reduce state debt. But this should be only done after renegotiating with the ECB, as any income from the sale of state assets should not be used just to pay down interest'.

'Finally, any proceeds left over from the sale of state assets should be used to take majority control of the Corrib Gas field and incentives given for wind mill farms for farmers and small operators. This is to ensure self-sufficiency and control over essential natural resources and power supply. Only by doing this can we maintain lower electricity and gas prices so we can remain competitive. The ESB and other electricity companies on their own cannot do that as they are subject to the world market prices for Gas and Oil'.

James concluded by saying that if there are people of similar interest to himself who would also like to express their views in an independent debate regarding the future of our country, 'then please let me know as I will be planning to hold such meetings for debate in local venues'.