Ireland and the EU

[Drucker]

Yes, our attractiveness for foreign industry is greatly enhanced by our EU membership. But then, these same multinationals are playing ducks and drakes with our GDP figures. Our GDP per head appears to be up there with Germany's and ahead of France, UK, Holland etc.

But the figures are not real - remember leprechaun economics? Our GDP grew apparently by 25% a few years ago - because Medtronic and a few others relocated their HQ to Dublin (Medtronic employ 12 at their HQ in Dublin).

Our EU contribution is based on GDP and is totally distorted by multinationals playing funny games by channeling their European (or even worldwide) turnover through their Irish subsidiaries. Transfer pricing, I think, is the term used (Bad Boy could explain it).

Anybody who has been to France, Holland etc can see that we are not as wealthy as they are - just compare the infrastructure they have to ours.

We can even afford to build a proper road between our second and third largest cities.
We are getting screwed on the contributions. No getting away from the facts.

Who’s this “we,” you speak of?

 

[poulgorm]

Continental infrastructure is off the charts (Germanys is poor at times) but they are willing to pay tax and invest rather than endless pointless little tax cuts and they invest in the future particularly in public transport.

Ireland now has about $80,000 GDP per capita which is skewed by the multi-nationals and staggering.

Not quite sure about that. Here, we enter the top rate of income taxes at a much earlier stage than in Germany, France or the UK. When you combine all the taxes on income here, it is over 50%.

Our VAT rate of 23% (a temporary reduction to 21% at the moment) is well up there withe highest too.

Our excise duties are at least on par with most EU countries.

The % of government spending relative to GDP appears to be below the average, but that is due that the fact that our GDP figures are artificially inflated and do not reflect reality.

Government capital spending relative to current spending is so low here - and has been for decades. And when governments decide on cutbacks, they takes the easy option - slash the capital budget.

 

[Drucker]

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How much are they?

 

[Account Attempt No.4]

Not quite sure about that. Here, we enter the top rate of income taxes at a much earlier stage than in Germany, France or the UK. When you combine all the taxes on income here, it is over 50%.

Our VAT rate of 23% (a temporary reduction to 21% at the moment) is well up there withe highest too.

Our excise duties are at least on par with most EU countries.

The % of government spending relative to GDP appears to be below the average, but that is due that the fact that our GDP figures are artificially inflated and do not reflect reality.

Government capital spending relative to current spending is so low here - and has been for decades. And when governments decide on cutbacks, they takes the easy option - slash the capital budget.

Tbh, our deficit is nowhere near as bad as our neighbours. I'd rather low amount of funds spent on interest rates vs shiny new roads. UK is basically fucked now. And as interest rates begin to go north across the world....gonna hurt.