Stats show a cash-strapped Banner County

CLARE people have less disposable income than the national average, according to new information from the Central Statistics Office (CSO).
Average Clare people were worse off in 2010 than they were five years earlier the report stated and the county is one of eight with between 90% and 95% of the State average disposable income for that year. It is estimated that Clare households benefit from €613 million in social transfers, while paying €471 million in taxes.
The disposable income per person in Clare is €18,111, a little less than the average for the Mid-West at €19,122.
The survey looked at the 26 counties in the Republic, but broke Tipperary into north and south for its purposes. Of the 27 areas included, eight had less than 90% of the State average; Clare and seven others had 90-95%; another seven counties had 95-100%; three had 100-110%, while Dublin alone had greater than 110%.
Of the seven Munster regions included in the survey, Clare finishes in sixth position, with only Kerry behind it.
The report also states that compensation of employees in Clare in 2010 amounted to €1,593 million, while the income of the self-employed came to €255 million.
The rent of dwellings amounted to €83 million and net interest and dividends came to €45 million.
When all the headings are brought together, there was total household income of €2,576 million.
The report also provides estimates of disposable income per person in each county for each year in the period 2002-10.
While there were a number of notable increases year-on-year, reverses in 2009 and 2010 meant the average disposable income in the county was lower in 2010 than in 2005. The figure for 2005 was €18,590 while it dipped to €18,111 in 2010.
At no stage during the nine years of the survey period was the disposable income in Clare higher than the average for the Mid-West. The highest figure enjoyed during the survey period was in 2008, when it was €21,114.
The report found Dublin was far and away the most affluent part of the country.
“Of the eight regional authority areas, the Dublin region had the highest average disposable income per person in 2010,” the report reads.
“At €21,515 the average disposable income per person in Dublin was 11.4% higher than the State figures of €19,318. None of the other seven regions had an average disposable income per person higher than the State total. The Border (€17,374) and Midland (€17,133) regions fared worst among the eight regions.”
It also states, “Dublin was the only region with higher per capita disposable income than the State average during the entire 2002-2010 period, while the Midland and Border regions occupied the lowest ends of the disposable income distribution range for the most recent five years.”
Clare’s Labour party TD Michael McNamara said it was unsurprising that Dublin showed a greater level of income than the rest of the Republic.
“I would say that it’s typical across Europe that capital cities would be above average, the greater London area would be the wealthiest area in the United Kingdom, around Paris would be the wealthiest in France.”
He felt the loss of services at Shannon might have been a factor in the decline in Clare’s figures towards the end of the last decade.
“Shannon airport declined considerably in that period, while I’m not an economist and I’d welcome an economic analysis and I would suspect that’s a large part of the reason.”
Fianna Fáil TD Timmy Dooley said reducing the impact of debts taken on in the boom years would be important if the domestic economy is to see any kind of revival.
“I think it’s fairly clear to everybody that economic activity is gone back, almost some people would argue to 2000/01 levels. the only difference is that there’s a much greater level of personal debt that now hangs over so many more people. The houses that they bought are probably gone back to pre-2000 levels, people have that whole stock of negative equity built up.
“In many cases their income has gone back too and they are trying to service debt and live, and that’s where the big blockage is in the domestic economy; an overhang of debt and people still trying to live. People are trying to pay considerable mortgages with less income than when they negotiated those mortgages.
“That’s why the Government are going to have to move much more quickly in getting the banks to untangle the borrowing and find ways of assisting people through these difficult years, so people will have a little bit of disposable income to spend in the economy and generate activity through stimulus.”