As part of the medium term economic plan being announced this afternoon, it appears the government are going to launch a national initiative, aimed at getting more young Irish people to become bondholders.
Although the last number of years has seen a focus on encouraging young people into the fields of science and technology, latest data suggests that Ireland would be better off with more bondholders of our own.
Science and technology companies do provide growth and employment, but they are high risk investments of time and money and often, up to 80% of these start ups fail.
Becoming a bondholder is in fact exponentially more profitable and now proven to be completely risk free.
Being a bondholder does not require labour, or many other forms of capital and shows a much quicker return than trying to establish a sustainable business.
Up until now, Ireland had a very low level of domestic bondholders, meaning that the vast amounts of tax payers money we throw at them, leaves the country and the economy.
If Ireland can create a super rich elite over the next few years and increase the amount f Irish bondholders, it will mean that when the country bails them out after massive speculation, the tax money can stay within the economy.
This will be an important factor when trying to create a healthy snapshot of the country’s finances that doesn’t actually reflect the state of the overall population.
The new awards are likely to go on and replace the Young Scientist of The Year Award. Students will be judged on their ability to loan out vast amounts of money to other pupils in their schools.
The overall winner will be selected on their ability to get the school’s board of management to payback the loans that the indebted students cannot repay themselves.
Marks will be awarded where a school has to increase family contributions and drastically cut the level of services available to the student body as a whole.
Bonus points are awarded where a school has to cut funding to special needs assistants and resource hours.
The new awards will kick off in the 2014/2015 academic year and it is hoped will encourage far more students to venture into the highly profitably sector.