Comments on: IRELAND TRADES IN ITS PROPERTY BUBBLE FOR AN EXPORT BUBBLE

By: Michael

Michael — Thu, 16 Dec 2010 13:09:27 +0000

sorry about the spelling
How do these businesses survive if the figures are correct.

By: Michael

Michael — Thu, 16 Dec 2010 12:09:17 +0000

One has to question the validity of the wto figures.
I am not sure of the cost of labour in spain,N/l & italy.
However the production value of each employee is
Italy 15,491 Spain 23397 N/l 38181.
How do these businesses survive of the firures are correct.
We in Ireland have a tendancy to put a negative spin on everything Irish.

By: Irish Left Review · The Economics of Failure Have Failed. We Need to Make Them Work Again. The Recession Diaries - October 4th

Mon, 04 Oct 2010 15:30:47 +0000

[…] Looking into the figures we see the problem. Consumer spending is, for all practical purposes, going to remain static (a 0.4 percent increase). Government spending (consumption) will fall by another -3 percent. Investment is still in negative territory at -3.3 percent. The only thing heading north is exports but the problem here is that not only are exports from the modern, multi-national sector somewhat detached from the domestic economy (there will be little job creation or tax revenue from this sector of exports), there may even be trouble with the numbers as Conor McCabe points out here. […]

By: Terence

Terence — Sun, 29 Aug 2010 21:43:09 +0000

Opps, the second part of my own calcuation is wrong too. It should be since Spain’s financial sector exports are one third of ours then their employment would be, so that should be 63/3 = 21k rather than dividing by 7. The 21k figure looks a bit better

By: Conor McCabe

Conor McCabe — Sat, 28 Aug 2010 23:25:56 +0000

Oh I know! The figures make absolutely no sense. That’s my point.

By: Terence

Terence — Sat, 28 Aug 2010 22:57:17 +0000

Your calculation seem a bit off. Are you saying Ireland has $22.7 billion exports with 63k working in that sector. And then you seem to be saying the export value for Spain is $7.3 billion, yet you come out with a far higher employment figure which makes no sense. Surely since 7 is approx one third of 22, then so would their workforce be in that sector, which means for Spain you should get 63/7 or 9k people which actually seems a bit low but at least is consistent in how the figure was derived.

Likewise for the other calculations.

By: Conor McCabe

Conor McCabe — Tue, 24 Aug 2010 12:00:58 +0000

It would be good if Michael Taft or someone from TASC could get an op-ed piece in about it.

By: Tomboktu

Tomboktu — Tue, 24 Aug 2010 10:28:44 +0000

“The story of the tax scam has gone around the world and some at this stage, but I’ve yet to see or hear of it on Irish TV or radio, or in the print media.”

Could you write an op-ed piece ‘on-spec’ to help the IT fill its summer pages? (Actually, there are two pieces waiting to be written by those with some qualification to do so: one on effect of ‘Double Irish@ on the state’s finances; and one on the media silence.)

By: Donagh

Donagh — Mon, 23 Aug 2010 21:13:34 +0000

There is also the changes that came about from the last Finance Bill. The “closing” of the transfer pricing loophole was publicised widely enough, as was the measure to comply with Sharia law to get more Islamic finance.

But looked at as a whole the Bill was designed to significantly increase the type of investment that is behind a lot of those dodgy figures. They are providing tax incentives to boost investment. Haven’t we been here before?

The bill ensured that funds could be transferred into Ireland more easily, while a number of specific rules were altered to boost finance investment.

This is a comprehensive piece from the Sunday Business Post on the Bill and how its designed to encourage more of this investment through tax breaks.

http://www.sbpost.ie/newsfeatures/lenihan-fights-for-foreign-investment-47238.html

According to Brendan Kelly, director of Ibec lobby group Financial Services Ireland (FSI)

‘‘The package of changes represents one of the most significant boosts for the IFSC in the last decade.”

Based on this piece we can see why Honohan has been talking up our ‘dynamic exports’. From the governments point of view, with property in a tailspin, its the only show in town.