My view of economists like Williams is that his “guess” has a 50 50 chance of being correct. And that my non professional economist view us equally as valid as his guess.I'm an economist by trade and subscribe to the approach, wherever possible, of not making predictions - especially about the future.
My view of economists like Williams is that his “guess” has a 50 50 chance of being correct. And that my non professional economist view us equally as valid as his guess.
The big danger this time comes from the multi nationals and Ireland's dependence on them.
True again, but this is problem of success. If the multinationals all left we wouldn't have to worry about the tax issue.The eu is going to get heavy with Ireland on taxation
After Brexit, Britain is likely to be poorer, a large trading partner with less money to buy our goods and services. Whatever tinkering they do with their tax rates will be irrelevant.he British after brexit are reducing their corporation tax to 12.5 percent.
Oh and we are talking down our only big indigenous industry, agriculture.
True, but this misses the point, that the multinationals are the best game in the world and Ireland has played that game well. Yes things may change but there is no point in not attracting FDI now on the basis that it may not be available in the future. And the FDI thing has gone well for Ireland for a long time, through two boom and recession cycles.
Oh and we are talking down our only big indigenous industry, heavily subsidised and still loss making, agriculture.
It may be loss making to some farmers, but its still our biggest indigenous industry, the likes of kerry group and glanbia and goodman international make loads of money and are irelands biggest companies. since the banking collapse they replaced the banks as the biggest stocks on the irish stock exchange. The agriculture industry employs alot more people than just farmers
The reason these companies make loads of money is because taxpayers, via CAP, are bailing out farmers annually to produce cheap food that the processors sell on for the fat profit margins. Taxpayer are paying so we can undercut Asian farmers in their regional/domestic markets.It may be loss making to some farmers, but its still our biggest indigenous industry, the likes of kerry group and glanbia and goodman international make loads of money and are irelands biggest companies. since the banking collapse they replaced the banks as the biggest stocks on the irish stock exchange. The agriculture industry employs alot more people than just farmers
And according to the CSO, Agriculture, forestry and fishing employed 89k in 2016, behind retail (267k), health and social services (223k), manufacturing (201k), Real estate, renting and business activities (193k), education 177k... I'm sure the IFA will say the industry 'supports' thousands of jobs but everyone does that - if every industry counted their employment in the same way there would be millions of jobs supported in Ireland.
What are your criteria for what constitutes a recession in Ireland?
When a Goverment is allowed to pick and choose particular commodities and base the inflation rate on that product going up or down in price it doesn't sit right with me. In fact it's ridiculous in my opinion. Then again, i'm not one of those exalted economists who know everything, but in reality wouldn't know the tail end of a bullock from its rear end.
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