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Ministry of Finance Updates.



1.) Rentals.
Ireland currently has a rental agreement with Canada regarding the Shannon. This has both economic and defensive purposes. The agreement stipulates a payment of 40G/month to be paid by the 6th of each month. Payments will begin in March. This, in addition to our US rental will bring in 90G per month. The additional income will be used toward community projects and national defense.

2.) Allies.
Our financial situation has currently allowed us to maintain two Mutual Protection Pacts with the mighty eRep nations of Croatia and China. The Ministry of Finance has committed state resources to maintaining this as both are about to be renewed.




3.) Security.
President Seanan and I have been very focused on the security of our most important resource, the New Ireland Bank. Passwords have been changed multiple times. Some of the State funds as well as foreign currencies have been moved to the Ministry of Finance as will be outlined in detail later in the article.




4.) Budgets & Records.
The uses of State funds have come under certain (and reasonable) scrutiny and this Ministry has attempted to be as transparent as possible. The tax income that a nation receives comes with a heightened sense of responsibility and demands careful treatment. To this end various Dail members have proposed the publishing of all financial records and budgets. I encourage and agree with this principle and hope that future Ministers and administrations support and uphold it. This information will be available towards the end of the term.

5.) The Irish Army.
The MoD and IA staff have been working very hard to build Ireland first professional army. This has required some tax investment and will so in the future to maintain. Ireland is able to do far more damage under current policies than she has done since the high age of V1. The staff have been creating and establishing protocol for the requesting and budgeting of funds. This has been a process as no one has really written a book about how to do it. Tax funding has been appropriate and seems to be administered fairly while maintaining high levels of production. The Army also has information regarding the costs of expanding it’s worker/soldier base beyond where levels are currently at…we are all planning for the future.




6.) The Money Market.
For various reasons created by the Admin the Money Markets of all nations have been in fluctuation for a last few weeks. The value of Irish currency lost 45% of it’s value as the price of gold soared to over 140IEP/ea. These constant fluctuations were unfair to citizen and GM alike all the while threatening the National Treasury and even recent economic growth. At this point the administration intervened to prevent further collapse. The Money Market Stabilization Plan was enacted by the Dail and the Ministry of Finance took the lead in trying to right the Nation currency. Currently we have seen positive gains and the rates have gone up. This plan, unlike many previously attempted, does not try to keep the market at a specific rate but will allow for a specific range of values within 0.011 – 0.015Gold/IEP. This rate will allow business the confidence to keep investing in Ireland while allowing private citizens to make money by selling their Gold/IEP for small profits. This plan encourages growth while maintaining stability.

7.) The Great IEP Burn.
Well, not really, it is an exaggeration. Ancient Beta resident of Ireland, 5n4keyes (or Snake to friends) proposed that we help the MM along by taking currency out of circulation. If there is less currency then demand can grow (supply/demand economics) The reason the MM was going wild was that too many people wanted to sell their IEP and there was too much IEP out there…the market was saturated. This proposal moved a large amount of IEP from the Bank into trusted citizens’ hands. At this point the IEP was used to purchase land (that upon which companies can be built). This effectively sends the IEP to the Admin and can never be used, sold or stolen again. This is an effective long-term solution to inflation. Less currency = stronger currency. We are monitoring exchange rates and looking at potential “burns” in the future. Should we do so the MoF will publish the terms and applications necessary for average citizens to apply (though applications will be strict and limited if this happens)

8.) Solidarity.
President Seanan has given his support to this concept/organization and we wish to expand and develop its future. We are accepting applications and looking to select a Chairman or Counsel to lead it. The movement is meant to strengthen the Irish economy but we need the help or interested Businessmen, enlightened Social-crats, Active Congressmen and ordinary workers to help mold this into a powerful tool to benefit the Irish people. Please let me know if you are interested.

So…my office has been very busy keeping the wheels of commerce rolling forward. I remain committed to the economic growth of Ireland and the transparency of public funds. There will be additional initiatives initiated by both this office, President Seanan and the Dail in the future as we all attempt to make Ireland into an economic power.


don.squire
Minister of Finance