Taoiseach’s advisor warns Ireland could be ‘wiped out’ if three companies exit
Taoiseach’s adviser: We could be ‘wiped out’ by Big Tech exit
Posted by An_Sealgaire
Taoiseach’s advisor warns Ireland could be ‘wiped out’ if three companies exit
Taoiseach’s adviser: We could be ‘wiped out’ by Big Tech exit
Posted by An_Sealgaire
15 Comments
Wouldn’t they want a European base anyway even if the Donald did them a massive favour?
Anyhoo I’m sure we’re flexible on tax rates if it came to that. Tit for Tat Donald.
We probably shouldn’t be basing our whole economy on 3 companies then
Tayto, Guinness and what’s the third one?
Idk I didn’t read the article, hopefully the Taoiseach can help us keep our crisps.
Kinsella seems to be a decent skin – his columns were by no means an example of someone looking for an adviser role sucking up. He could be quite cutting on government policy.
It’s obviously a huge risk to have so much of our tax take paid by just 3 companies – it’s almost half of corporate tax receipts. The result is that without them we’re running a deficit:
https://preview.redd.it/1vc0sw4covid1.png?width=1080&format=pjpg&auto=webp&s=4eccf03a44a24decac374d63690277cb9d8d11c2
Politicians need to listen to economists and other fiscal experts on this and not use those excess receipts for current expenditure. The wealth funds are a good way to deal with that, but the temptation has to be constantly resisted and resisted a bit more than it has been up to now.
This guy seems very capable and he certainly knows what he is talking about. I hope Simon is listening.
Nothing bad has ever happened from putting all your eggs in a single basket!
A lot of those big techy companies will abandon Ireland the second they see a cheaper tax option with a similar workforce. We really shouldnt be betting the house on them.
Can we disband rte
Pascal O’Donoghue was on The Last Word earlier in the week pretty much saying this – they need to be careful going into the budget in case this happens.
It’s difficult before an election tho – the pressure is on to spend, spend, spend. In 2006, the newly founded economic advisory council advised Bertie Ahern’s government to be very conservative with the budget – which the government completely ignored because they were heading into an election year and well, we know how that panned out.
It’s nice to have them, but we should never cripple or weaken our own industries for the benefit of foreign ones. We used to have a sugar industry, and now all our sugar is imported from Germany.
Trump already had 4 years as president. Companies didn’t leave because they aren’t stupid. Sure he could potentially give them incentives but they lose a European base with, taking Intel as example, their infrastructure facilities and workforce, all for someone who won’t be in office 4 years later, incentives could change and you would only be 1/2 way through your new facility build.
Only people stupid enough to believe Trump would think he could take mega companies from Ireland.
He then went on to say that we already have an example in history – that Dell pulled out of Limerick a while back.
But, Dell didn’t pull out their headquarters, which is the key thing for tax, they only pulled out manufacturing.
So the one example he could give of this happening in the past is false.
not to minimise the point, as we know we are hyperconcentrated, thats why money is being saved in a rainy day fund. but it doesn’t inspire confidence if his one fact-based assertion wasn’t correct.
And in a normal world Ireland’s currency would devalue which would make our exports more competitive and our tourism industry more attractive.
I hope we do get wiped out. There’s no future here for me now anyway. Really looking forward to housesharing now in my 40s and beyond.
Maybe if they left we could become a normal country.
Question why is Ireland relying on three companies? were they hoping the influx of migration would fix it or something?