Primary Health Properties Share Discussion Threads

[mirandaj] 06/10/2024 08:06

Primary Health Properties is mentioned in this article.

[petersinthemarket] 01/10/2024 09:56

>>#1284 Businesslive is subscription only

[ygor705] 29/9/2024 07:41

I see that the Eire government has just revised its forecast for this year up from E1.5 billion to E25billion! All sorts of giveaways under consideration so the wealth trickle down has begun. Not sure what discussions about reduced stamp duty for block hedge fund purchases of property is all about but some of it might rub off here. When will the Irish finally wake up to the fact that they're getting richer than the English?

[ygor705] 27/9/2024 11:54

I'm not sure what's happening down at the Bank of England but I don't know why we're delaying a 25 basis point rate cut. Do we really need a 1.33 exchange rate against the US dollar........who do they really think they're kidding? Anyway, with the US pumping loads of oil and the Saudis going for volume rather than price another UK rate cut should not be long delayed which should sustain the upward trend here.

[williamcooper104] 26/9/2024 14:36

Plus it's very easy to do business in, and the legal system is very similar (often with literally the same laws cut and pasted)

[ygor705] 13/9/2024 11:43

Looking at the current Irish fiscal situation rather than the situation 8 to 18 years ago my understanding is that Ireland is already running a fiscal surplus to which 13 billion euros is about to be added. This for a country with a population of 5.2 million people. If you scale that figure up to something that would have a similar effect in uk (population 68 million?) you would be talking about a figure of 170billion. The Irish Government hasn't yet said what it's going to do with all this cash but using some of it to plug problems in the Irish healthcare system must be a possibility. Harry Hyman is a shrewd operator and he didn't choose to diversify in to Ireland for no reason. I'm quite encouraged by what has been going on over the water this week and good luck to the Irish.

[williamcooper104] 12/9/2024 16:42

There's an actual budget surplus That's real cashflow

[chucko1] 12/9/2024 14:33

I'm thinking of this GDP in the context of PHP - in that there could be an expectation that a wealthy society can afford the sorts of things such as health facilities that are truly first world.

But is the analysis were that simple, it would struggle to explain the extremities of Ireland's 2005-2016 period, where there was boom followed by bust. Much of that relates to massive property development/speculation and banking largesse, but you would have thought that such a stellar GDP/capita would have becalmed these problems with resourced redirected. You bet they didn't!!

Worth also considering that the stated GDP/capita is around twice the EU average (to the annoyance of many in Brussels). Those who have travelled extensively in both the EU and Ireland would be hard-pressed to claim that infrastructure and obvious wealth were higher in Ireland. I think the bigger point is how Ireland could possibly transition a concerted dictum from Brussels to truly tax harmonise. 12.5% to 15% is not the elastic part of the curve. The Irish know this and will not do it. Their social benefits are reasonably generous currently, and is a vote-retainer for most politicians.

[affemoose] 12/9/2024 11:15

chucko1 is spot on about the 'fake' nature of the Irish GDP. I've spent a lot of time there on business and it's widely recognised within the business community.

It's a bit like the old adage 'Profit is Vanity, Cash is sanity' - In this case 'Profit' is GDP and cash is actual Euro's raised in tax.

[ygor705] 12/9/2024 08:56

That last post should have been 10 smiling emojis wearing sun glasses. My system can't cope with anything clever I'm afraid!

[ygor705] 12/9/2024 08:55

??????????

[williamcooper104] 12/9/2024 06:15

Enough for about 10 winters

[ygor705] 12/9/2024 05:44

All valid points demonstrating that the Irish Govt has been shrewd enough to play a longer game and employ bait and switch techniques to get what it wants out of multinational tax avoiders. Yesterday's Times reported that 13 billion euros had been released from escrow (read as gone into the Irish governments coffers) as a result of the legal decision against Apple. That would have been enough to keep English pensioners warm this winter. Trickle down social economics.

[williamcooper104] 11/9/2024 21:29

County Kilburn

[bmcollins] 11/9/2024 18:44

Or Kilburn !

[williamcooper104] 11/9/2024 18:34

Add to that the other huge benefit RoI has is it's got third world demographics - much much younger population relative to the rest of Western EuropeAlso one of the only countries in the world that has a population about 25% smaller today than it was c180 years ago - they all went to America

[williamcooper104] 11/9/2024 18:30

Classic case of creating a super low teaser tax rate and then raising it later on, but still keeping it competitive Add to that a highly educated workforce, English speaking, time zone, historic cultural links to America It's all great; until they get back the utter basket case that's Northern Ireland (which would relieve rUK taxpayer of actually about £300m a week ;)

[williamcooper104] 11/9/2024 18:28

The EU ruling was because Ireland didn't used to have any transfer pricing rules so the tax rate was literally want ever you wanted it to That was deemed to be state aid (though it wasn't, as anyone could pay whatever tax they wanted) They've got full transfer pricing rules now; and it's not reduced multinational investment The minimum 15% OECD rate again has just increased the tax rate but not caused anyone to leave It's not as wealthy as GDP per capita would suggest but the Irish central bank does produce stats that adjust GDP for multinationals and it's still considerably richer than the UK. Albeit it's now suffering from a lack of infra/housing to support its growth

[ygor705] 11/9/2024 14:51

It's a view Chucko.......we'll see.

[chucko1] 11/9/2024 06:57

Ireland's GDP is materially impacted by its corporate tax rate (12.5%) which attracts the likes of Apple to HQ its European operations there. However, ECJ legal challenges to these arrangements (significant win very recently) could begin to impact this.

This is not the sort of GDP which you would rely upon for determining long term social policy, or much else for that matter with its legitimacy being challenged.

[ygor705] 11/9/2024 05:12

Good to see PHP back over 100p. A somewhat surprising stat that I came across the other day is that Ireland has the 3rd highest GDP per capita (the more important one that the politicos here quietly ignore) in the world. Social policies may not be allowing this wealth to trickle down to the general populace at the moment but it's there and one would expect some of it to find its way into healthcare at some point.

[affemoose] 08/9/2024 14:16

No wonder they are focussing on developing properties in Ireland, where the VOA doesn't hold sway.

Now i understand !

[affemoose] 08/9/2024 14:14

Some interesting comments re: PHP here: hxxps://citywire.com/investment-trust-insider/news/trust-watch-jara-jolts-boards-tech-fall-leaves-one-biotech-cheap/a2449518

WHat caught my eye, and i was utterly unaware of is:

"However, Primary Health Properties (PHP) gracing the list is more striking given the concerns there have been over the government’s District Valuer holding back NHS rents 25-30% below the level the likes of PHP and rival Assura (AGR) need to develop new GP surgeries."

You can look at this 2 ways:
+ve - fewer surgeries being built = higher asset prices. But i'm not sure this plays out with rent valuations etc, so if you can't rent it out, why buy it etc etc. BUT.. it should prop up asset prices at current levels or close.

-ve - No new assets being built except when local entities are prepared to chip in. ‘PHP has confirmed a development scheme in South Kilburn is underway that is supported by capital contributions from a local authority and an integrated care board, essentially squaring the circle to make the scheme financially viable. Peer Assura has also mooted such arrangements, and we think this cold open the door to further GP surgery developments that the UK so badly needs.’

This is classic blinkered non holistic thinking by the Government. VOA Reduce rents paid - so someone else in the Pub Sector has to pay out capital sums to get a surgery. aka - Rob Peter to pay Paul.

[bmcollins] 08/9/2024 11:06

@Skinny
Wasn't George Stobart called Eddie & used to drive a lorry ?