‘It’s absurd!’ Limerick TDs question Dáil rich list

LIMERICK TDs have questioned a new survey which has shown they have more than €6m in assets and pension pots.

A major two-month survey by the Irish Independent has revealed data of all the TDs across the state, concluding that they share a total of €181m in financial assets.

Here in Limerick, the data revealed that its seven Dáil deputies have some €6.07m between them.

This week, the Limerick Leader has made contact with all seven deputies, with Willie O’Dea responding, as well as Fianna Fail colleague Niall Collins, Sinn Fein TD Maurice Quinlivan, Fine Gael’s Kieran O’Donnell and Independent Richard O’Donoghue.

Mr O’Dea, whose financial assets top €2.26m according to the survey, says its “absurd” and “gives a very false impression” to value people in accordance with their pension.

“For many people, the old age pension is around €500,000. So everyone who qualifies for this is worth €500,000 – I’m sure they’ve no idea they’re worth this much! If this were true, half the country would be millionaires,” he said.​

Mr O’Donoghue (pictured below) said: “People can be asset-rich but cash poor”, and added he has not declared land he owns, including his home.

He said this is because it’s not only his, but his family’s. It is this which explains why he appears to have the lowest figure in terms of financial assets, in Limerick – just €78,068.

Mr Collins, a Minister of State for Skills and Further Education – who the study shows has financial assets of €981,802 – said: “I don’t understand how they compiled the figure for myself. I don’t own any assets apart from my private residence. Presenting individuals' assets without reflecting the liabilities of the borrowings they have against these assets is meaningless.”

The Limerick TD (pictured below) said the only asset he has is his home in Patrickswell, which he has a “hefty mortgage” on with his wife.

The survey showed some high-profile Independent and Sinn Fein TDs earning money from property, including, notably, party president Mary-Lou McDonald having €1m of property and land, and Tipperary TD Michael Lowry with €2.7m under this column.

The Healy-Rae brothers have between them €6.07m of land and property – the same amount of financial assets of Limerick’s entire squad of TDs according to the survey.

“I think it’s quite insightful for the public to read about the housing stock owned by TDs,” opined Mr Collins.

But Mr O’Donoghue hit back, and said that if there were an economic crash in the morning, “You could draw a line straight down the middle” of what they have.

“It’s not what it seems,” Mr O’Donoghue – a builder by trade – says.

He criticised what he described as “career politicians”, saying that many Independent TDs have earned their money and pensions from previous jobs, while party members have high pensions.

“I see Mary-Lou had €1.9m and Micheál Martin has €3.1m. It’s a fair thing to achieve from a person who has not been self-employed,” added the Independent.

The second highest Limerick TD with €1.1m, according to the chart, Deputy Kieran O’Donnell, only responded to confirm the €335,000 property listed with his name is one he owns with his wife.

City polltopper Mr Quinlivan (pictured) – who has estimated financial assets of €442,759 – said: “Over the last number of years, we have seen pay increases for TDs. Some of these have come at a time when people are struggling to keep their heads above water to pay their household bills.”

Minister of State for the OPW Patrick O’Donovan, whose financial assets on the chart totalled €778,790 did not return calls. Neither did first-time TD Brian Leddin, whose reported financial assets are worth  €417,534.

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