I live in northern Ireland, but have worked in England and republic of Ireland, I can in all honesty state that the Republic of Ireland is far better off than most of Britain, I was a child in the 70,80s and I can tell you parts of Ireland and there way of life had not changed in a hundred plus years, thatch houses out door toilets farm animals inside the house...... That is no longer the case, Ireland is a modern confident country who's best days are ahead of it, unfortunately Britain's best days are behind them, Irish people built other countries now they are building there own 😊
Yeah... Travelling the border near Newry in the 80's there was a very distinctive change in the landscape. The only comparison I could make is to post-soviet states just after leaving.
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"there way of life had not changed in a hundred plus years, thatch houses out door toilets farm animals inside the house", dude. I'd suggest that what you're saying could well have been true in the 1950's but by the time of the 70's and 80's there was a lot of concrete being poured, supermarkets with conveyer belts, cars, even heroin.
Ireland uses a modified way of looking at the value of the Irish economy without the effects of the MNE sector and airline leasing to better understand the Irish economy but The UK doesn't have a modified statistic for taking out the effect of the City of London's..... well..... mmmm.... aaah..... how to say this politely..... Money Laundering.... so most of the UK is in economic ruin but London is doing well.
of course ireland is richer,. Regardless of whether their GDP is distorted, the obvious fact is they now have so much money that they don't know what to do with it, hence they are setting up a sovereign wealth fund.
They are just a tax haven for Apple. There is no substantive basis for Ireland's economic position. If Apple ever pull the plug, Ireland is stuffed. If they do have enough money for a sovereign wealth fund, then they should sort out their homeless problem and obvious poverty, not to mention paying for their own defence by forming a realistic airforce with fighter aircraft and anti-submarine aircraft.
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Did you know that a long time Taoiseach (Prime minister for all intents and purposes) Bertie Ahern while Taoiseach and as Minister for Finance had no bank account. Just think about that. He's basically saying "You can't audit my accounts if I don't have any accounts". Fogeddaboutit.
In 1920, the UK took the 6 counties that had 80% of Irish industrial power base an created NorthernIrland against the wishes of 76% of the Irish voter based on the general election of 1922
Yes and the north can't borrow set its own fiscal policies or corp tax rate so last 20 years has lost out on a huge amount of FDI. Britain forces it to adopt policies that crush its economy yet the northern part of Ireland is the most highly educated region of the UK. It needs to get out ASAP. Unionism is a tradition of begging and subordinate to Britain instead of building you're own free country.
As an Irish man here our economy is horrible. We are a tax haven for multinational companies. Wages may be higher here than the UK but our cost of living is triple.
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And my old leg is sore and I don't get enough sleep.
Corporation tax in Ireland is 15%. Ireland runs a budget surplus. Irish government pays 1.9% less to borrow on the bench mark 10 year bond market. Teachers in Ireland, like 90% of Irish uni graduates leave university (education) debt free, unlike their British counterparts who leave saddled With a lifetime debt. I myself, went to University when I retired at 55 years of age. Free tuition and financial support as long as you keep passing your exams.
It might really hurt the Irish to know the British dont know, and they dont care. All this talk of gdp per capita, I heard Manchester has a bigger GDP than ireland so I dont know. The Irish (like most former colonies) say they hate the British ( with good cause) but the British today dont care.
If you drive from the Republic into NI you see a stark difference between the road infrastructure. NI looks poor.
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It was literally the opposite back in the 90's. The first time I saw a tractor brake and indicate to turn right into a field I knew I was in a different country. Working lights and not just an indicator but someone willing to work the indicator. Trimmed hedges too. The roads were kept in good nick in case troops needed to be deployed.
I have lived in both countries. Ireland is certainly not "richer than the UK" as a whole. However Ireland's economy has made huge strides in the last 40 years, and this success shows up some of the many failures in the UK economy, whose malaise is self-inflicted. Because Ireland was once a region of Britain, the poorest region, in fact. Today Ireland is undoubtedly much richer than many British regions, places such as Wales and Cornwall, and most clearly, Northern Ireland. Arguably Northern Ireland was held back by civil strife but not Wales or Cumbria or Cornwall. These places are worse off than Ireland because of successive Tory policy enriching Southern England at the cost of everywhere else.
Ireland was never a region of Britain. It was one of the four nations of the UK. And we only have to look at the statistics that show Northern Ireland as the second poorest region of the current UK to confirm that the struggle for independence for 26 counties of this island was worth it. Our duty is now to raise up the economy of those 6 counties that remain in the UK for now.
Ireland was never a region of Britain but an enforced part of the UK. It was a in reality an exploited colony rather than an integral part of UK and it set the country back centuries. Famine is a perfect example of this. Blight hit all of north Europe but British land policy in Ireland meant Irish people had no land and were forced to rely on easy to grow potato. Therefore blight was devastating leading to death, mass emigration for decades and economic stagnation. Economy only recovered in 1990s and population is only hitting 1840 levels now , 180 years later. Only country in Europe whose population now is less than 180 years ago. The economic impact of this and subsequent growth of Irish economy in last 30 years should bot be underestimated in light of this.
I read a quote a few days ago which I thought was pretty accurate and appropriate here, ‘London is a first world economy attached to a third world country.’ Sad but true and this was highly evident during the Covid vaccine rollouts.
I am a retired 86 year old dublin based chartered accountant who has lived all my career in Dublin save for some years in London and Paris. To understand the Irish economy one must start with a reading of "The first program for economic expansion" published in 1960. This transformed the Irish economy with differential corporate tax rates for manufacturing 10% and distribution/services 40% (initially zero corporate tax on exports of manufactured goods). It could serve as a model for the slumping UK economy. David McCabe
Ireland’s standard of living is much higher than Englands. Yes you have massive pockets of wealth in the UK, but irelands wealth is spread more evenly. However, compared to the USA, both Ireland and the UK, have lower standards of living, although that is changing in the US.
The most pernicious lie told by the British monarchy and aristocratic establishment is the idea of English supremacy within Britain itself. Britain has long been an Anglo Celtic European fusion, Ireland should have been a natural partner of the UK, a true United British Isles, in full and equal union, a land where the Celtic part of our identity is not ridiculed and minimised, but celebrated. The irony that in creating an English supremacy, the people to suffer the most were the English, as the accents, traditions and values of those English in the provinces, that did not meet the perverse view of English values espoused by the aristocracy and monarchy were deemed repugnant. This also led to a concentration of power in Westminster, to the great harm of the English regions.
You're delusional. There is no appetite or prospect of any kind of political " union of equals " between Ireland and Britain. Withdraw to your own country, and form bonds as close as you like as separate equals.
The British exploited Ireland like its other colonies. Ireland would be poor like the part the British annexed but for our spirit for freedom. We ain’t going back.
@@genghisthegreat2034There was from approximately 1880 to 1917 when Parnell’s Home Rule party then Redmond’s Irish Parliamentary Party were the most popular party in the then British province of Ireland. Our contributor is taking a long, historical view on our two islands’ relationship. Obviously, no one in our Republic would seriously consider any other status than independence from GB 100+ years on, and neither would any British neighbour with basic knowledge of our long, common history.
@valerieh, anyone who'd interpret the Parnells Home Rule party, and poor Redmond's sequel, just isn't in the mindset of Ireland. Parnell's party was necessarily hand in glove with Davitt's Land League, in a joint enterprise on the existential issue of the time, in the only peaceful manner open to them. As late as 1902, a 72 Yr old village schoolmaster could be jailed for ' seditious speech ' , alongside his IPP MP, by advocating from a public platform that no one should take up tenancy of the land of an evicted tenant. It's in our family heritage still. So make no mistake, the people of Ireland were never going to be contented subjects; the ownership of the land was a painful way point on the road to Easter Monday 1916. Redmond thought he could get it by advocating volunteering for the British Army in 1914; 50,000 from what is now the Republic paid for his folly, and the British response to 1916, and in the War of Independence was his answer. That and utter dismissal by Sinn Féin in the 1918 Election.
It's more helpful to compare Ireland with a region of Britain. Ireland is much poorer than London, but compared to say Wales, Ireland's economy is 5x the size. I think this is an indictment of successive British governments more than it is praise for Ireland's policies. It shows how valuable independence is, and how Britain's regions are screwed by the wealthy South East
@lubumbashi6666 if the UK had comparable corporation tax then its gdp would be much higher as the video explains. But the average person wouldn't be much better off. Lots of money passes through Ireland but most Irish folk never see it. So it's not a very useful measure of anything
Gdp IS indeed a limited metric as are weight categories in boxing. Nevertheless, per capita, Ireland is "better off" than the UK using practically any other metric. Amazing considering how poor Ireland was a century ago.
@fintonmainz7845 but there's no neat definition of what "better off" is. That's the point. And crucially gdp says absolutely nothing about distribution of productivity and very little about wealth. Both of which factor into any discussion of being better off 👍
Because Ireland was an economic backwater in the 1970's we were able to adopt radical strategies towards FDI that are now paying off in a huge way. It's harder when you've got an established manufacturing base or other existing model that you've got to deconstruct. Of course the Irish government adopted stupid protectionist strategies from independence though the 1960's which put us decades behind so I think after that everybody knew nationalism was a dead end. I work in construction and the negative side of things is the taxation for regular people is quite high, and the budget is blown on a lot of unproductive stuff. Building infrastructures all snarled up in planning. It's hard to get things done at scale in a small market as well.
Totally agree... it is the irony of ironies, when you consider how frigged up the Construction sector at home is, when there is '000s of Irish working all around the world on some of the most high profile projects. The New Children's Hospital is a national embarrassment and damning indictment.
Not to compare but Ireland has caught up or maybe the UK has regressed. I remember the late 80's, the economy was very bad here. Three of my sisters moved to London for work. Two have since moved back (the last ten years). What's noticeable is the increase of folks from the UK here now, so maybe their situation is some bit better here
My 2 cents. IRE is a small, open economy. It can't indulge in magical thinking as an independent nation state. There was enough of that in the 30s , 40s and 50s. The result was poverty, emigration and shrinking pop (down to 2. 8 M or so in the early 60s IIRC). Central to the turnaround was education, exports, FDI and the EEC /EU. Oh, yeah, English speaking and lower taxes certainly didn't hurt. These factors exist within the bigger system of the EU, which allows smaller open countries like IRE, Denmark, Netherlands etc to thrive. And they do. Bigger countries thrive too, but the smaller states do particularly well, IMO. Our UK cousins have lots to be proud of. It is the birthplace of the industrial revolution. Many wonderful technologies were developed in the UK, railways were pioneered there, the UK civil service is well regarded as competent and not corrupt, music and theatre thrive there. So, what has gone wrong in recent years? My impression is the UK is indulging in magical thinking of its own. I would offer the Brexit fiasco as an example of this. I visited the UK often in the 2016 period, and saw and heard the debate. It was remarkable to an outsider. The lack of knowledge, misinformation, gaslighting that took place during public debates and in media coverage prior to the referendum, was remarkable. For the man in the street not to know how and why the EU operates is fair enough. But for government leaders, thought leaders, and UK industry not to speak up forcefully, was notable. In IRE, in contrast, the family pet understands the importance of the EU to the country's prosperity, and while there's plenty of debate, 90%ish of ppl accept that the EU ain't perfect, but it's really, really important. Mischief makers and opportunists like Farage get no traction in IRE, bc ppl understand, on this subject at least, what side their toast is buttered on. Brexit isn't the only reason for the UK's decline, but it reflects a very narrow transactional, short term approach of special interests ( e.g. politicians, money laundering in London, nostalgic for empire types etc) beating out the broader, national and strategic interests of the nation. I wish my UK friends the best, and hope there is a turn for the better soon.
As an Irish man I can’t disagree with you more. Ireland is unfortunately going to come crashing down. We are currently undergoing a social transition in population bigge and faster than the Uk ever did. A result of this is that huge swathes of the native population are being left behind. Ireland has gone from 3% foreign born in the 1990s to 22% now. In Dublin it’s much more than that. It took the UK 70 years to reach those levels of immigration and look how much discontent there is in the UK now. Ireland is playing a very dangerous game. I also think the over emphasis on academia in Ireland is causing massive problems. If you work in anything that involves skilled labour it is obvious that we have a startlingly huge skills shortage. What good is a service based economy if you can’t build anything?
I wish I could take that wager. Growth in the UK will continue (albeit at low levels but that's the new normal) and unemployment will remain low. Life has been hard for people at the bottom for the last 20 years (certainly since 2008) and huge competition for low cost housing and jobs merely compounds their difficulties. That started under Blair.
@@johntheaccountant5594 I'd think most growth has been achieved through technological advancement, as it always has. It's why Europe is falling behind and is looking increasingly irrelevant in the world economy. We're heading for 10%.
Just to let everyone in the UK know, we're all flash Harry's now! Coffee, Wine, boxer shorts, we don't know ourselves! We even have our own shoes and everything. All we need is another Jack Charlton and we'd be setup for a decade 😎👍
God Bless Jack. Very seldom do we irish praise a British person. Only other person I know of us Big Jim Larkin. Founder of trade union movement. A statue of which is erected Dublin and Belfast.
@@A-se2ur I was 37 before I had my first continental holiday. But 30 before I had ny first mortgage. And the moral of the story is, nothing in life is free. People today buy coffee and sambo every day then bitch about not being able to save for a deposit.
@@williampatrickfagan7590 Five quid on coffee every day is 1825 a year. Cutting out that daily coffee means someone could buy a house in only a couple of hundred years. This analysis suggests you're talking nonsense.
@ChopsUm If you put 5 euro a day into an investment fund over 40 years, equals 5 x 365 x40 years equals about 800,000 euro with interest.. That is how I saved my house deposit. I SAT in 7 nights a week for 5 years. No pub no eating out no take aways, for 5 years. Try it It works
Approximately 950 American multinational companies operate in the Republic of Ireland, directly employing 209,000 people and supporting an additional 167,000 jobs indirectly, contributing significantly to the Irish economy. These companies include tech giants like Apple, Google, and Microsoft, pharmaceutical firms such as Pfizer and Medtronic, and financial services firms like Citi and Bank of America. Combined, these companies spend over €41 billion annually in Ireland, with notable regional investments in cities like Cork, Galway, and Limerick   .
@@Irish780 That's often forgotten. However, it doesn't take away from the op's point. €41 billion is a huge boost to an economy of just over 5 million.
The Irish received massive transfers of EU funds and rewarded their benefactors by running a tax system that amounts to little more than a fraud on their taxpayers. The UK built the modern world, btw - everywhere followed the model pioneered in Britain.
What a childish analysis. Ireland has little real economy to speak of. Ireland has become implausibly rich by becoming global tech's tax haven. They've sheltered global tech corporations from paying decent levels of tax elsewhere by offering pitiful levels of corporate tax in exchange for Ireland getting to hoover it all up. At the same suffer getting huge EU fund transfers. Shameful stuff......
Guinness is owned by a British Company Diageo, Ireland was always a major supply for British Beef and Dairy for centuries not just when Ireland and the UK joined the EEC, dealing with the housing shortage had to be put on the back-burner due to Ireland have to protect itself from the fallout of the UK's exit from the EU (this included David Frost meeting with Loyalist terrorists in May 2021 and the UK Government weaponsing refugees from Oct 2023 to July 2024 with An Garda catching over 7,000 weaponised refugees) Ireland increased direct ferries to the Continent from 4 per week in 2020 to 44 per week now and a marketing push in the EU and the US Markets, Ireland largest export market in Europe is now Germany and Ireland in 2023 was the second largest European exporters for goods to the USA, also Ireland isn't on the OECD homeless list shown but it is at 30 people per 10,000.
Ireland sounds like it's doing great. Now is there any chance you can stop running a parasitical tax-system that merely denies other exchequers of tax revenues?
The EU is a huge interstate levelling up and integration project, unlike the last Tory government's effort which took money from deprived areas and sent it to Tunbridge Wells (according to Sunak). No wonder Britland is a wasteland.
Without the EEC in the 80s Ireland could have collapsed. And yet you hear obscure new right wing parties suggesting leaving the EU. Naive and ungrateful.
@@andrewtaylor6737Keep trying. Ireland is booming because of Brexit. Imagine leaving the largest trading bloc in the world. How is the Singapore on Thames going? Bozo is a clown.
@fishy No you keep trying, we all know where the EU is going don't we but some people are delusional by thinking it's a prosperous trading block. Thank goodness the Uk left the woke - lefty club - WEF lovers, whilst no more free money for those parasites in Brussels.
Irelands success is not a story without its failures as well, from the founding of the state to the early to mid 90’s it was a disaster story. And yes it had massive success from the mid 90’s till the 2009 crash and for those their during the down turn, it was not fun. But what Ireland needs to do to capitalise on this success is infrastructure, we need a better rail infrastructure and spending money with the idea of having a population of 10million. But alas Ireland is bending the knee to NIMBISM. Ireland has the perfect opportunity to take from Mayo, cork and Donegal along on this expansion, this would be a massive opportunity to see beyond the horizon of Dublin. But judging by recent elections and the big give away and essentially buying votes, I feel they will fluff it up. Those in Ireland might take the piss out of the U.K. saying nothing runs right, I say, we have the track to run, where’s yours
My daughter and boyfriend are living with his parents. For the last four years. And have two good jobs , and still can't find a house to buy. Never mind, afford one. They are not feeling very rich.
@@LL-vk9zc So, you don't care about people living in overcrowded conditions where you have multi-generational families living in one home, that is going back to the 1950s and 60s
Ireland could think about investing that extra money in a sovereign wealth/investment fund, Making sure the current prosperity keeps going into the future
@@rytiskurcinskas7179 Most of that Irish debt is Irish Public Sector pensions, financial commitment eg membership fee to the European Union and Irish Government bonds of various terms including my €400 in Prize Bonds. So do you think the Gardai, Teachers, Council workers shouldn't get a pension after the pay a percentage of their wages in superannuation to the Tax Revenue? Irish Public Sector pension takes up just under 50% of the present national debt or maybe you think that they should be given that money back to put in a private pension fund???/
There's still higher taxes and worse healthcare in Ireland. The people in Northern Ireland would not vote for a united Ireland for higher taxes and worse healthcare.
They let global giants like Google, Meta, Microsoft and Apple, amongst others use them to avoid paying higher taxes elsewhere in Europe. Ireland is stealing other peoples taxes.
The strong deterioration of "living together" is observed in simple events of life (both in the UK and in France). Let's take the example of a dispute between neighbors over the fence which separates their property. Let's ask who pays the replacement of the rotten wooden fence with a beautiful PVC fence?(PVC=polyvinyl chloride; a synthetic thermoplastic material ) or, in the event of a storm which destroys the common fence which pays for the new fence etc... well in 2024 both in UK and in France? simple ? not because "" the legal proceedings usually far exceed the cost of repair. ". “There is nothing to add, in all areas it is the same, the rule of law no longer works for 70% of citizens,*
Ireland might be wealthy but where i live they haven't build a housing estate anywhere since the recession,they just finished off the ghost estates for social housing. The infrastructure is lacking and very noticeable now with the amount of refugees coming in. The government that was re elected is more dublin central. Their is better roads in the kerry mountains than in cork city😂 the government is very lacksy daisy. I know of a garda station that has taken a year to fit new windows in. This will be the downfall of us in the near future
I agree Ireland is doing very well but it hasn't come without cost. I visited O'Connel St recently-you barely saw an Irish face. I don't mean like an english cities multi-culturalism which I quite like. I mean the character of the place had fundamentally changed from 20 years ago. I'm quite liberal on immigration but given the importance of Ireland's culture I think they might have gone a little too far. (please no Farage crap here I don't agree with xenophobia I'm talking about a very specific situation).
Yes dublin has changed quite alot but it's not a reflection of the whole country,the recession and austerity measures the government implied is still very much affected rural areas and towns, homeless only used to be seen in cities now I see homeless people alot more in towns recently
I was in Seattle last year with some very high worth individuals at a meeting discussing opening a new division in Europe. There was an English guy present and let’s say he talked down to his colleagues. Anyway later at dinner and after he drank too much he told us all about the Argentine falklands war and it started to get ugly. Needless to say he was put back in his box by better educated people from America who clearly he couldn’t understand were better educated then he was and were comfortable in themselves, he clearly sounded like a mad man. I think it’s really sad the decline in British abilities and I put it down to raw nationalism and the poor education system that doesn’t encourage critical thinking. They really need to wake up. Needless to say the jobs are not in the UK. Not sure if it’s a fact it was a result of this guy, but I have my suspicion. Beginning to look really silly outside of financial services which are still world leading.
That’s not a decline. That’s how they always been. Condescending, over confident, arrogant and obnoxious. You just haven’t met enough in the wild. WWII, the Falklands, World Cup ‘66, the SAS are better than the Navy Seals, thick Paddies only died because they only ate potatoes, the British empire was run by only a few thousand clever Englishmen. A few drinks and it all comes out.
This is a bizarre story. Why would an ill-educated Englishman be dining with high worth individuals? And as far as education goes I'd suggest there are few countries that can match the top UK universities: Oxford and Cambridge are the equals of any university in the world so it's not as though a good education is unavailable.. You go further and seem to suggest that the land of Donald Trump and MAGA look down on what you say is 'raw nationalism'? Have you seen whats' happening in Europe with the AFD, Le Pen, etc. I get that you don't like the British and that's fine but stories like this just lack credibiliy.
@ this guy was not educated in Oxford or Cambridge. I don’t think anyone present was. I think you probably think that was a problem 😂 Hey dude, you sound very odd mentioning two universities to make a point about a country in steep decline. Perhaps that’s your comfort blanket like this guys believe when he told us that Britain doesn’t need America as they defeated the “Argies” as he called them. So we have two universities and the defeat of the Argentinians 40 years ago as a reason to be excited about UK. And to enjoy being talked down to.
@@Lawrence4000-s3kI have to agree with the op on this one. There is strong evidence of barrow boys often getting into high places in the UK. Result: Brexit
@@Kitiwake You'll have to explain 'barrow boy'? The UK has one of the worst records on social mobility so if you're saying a working-class man can make it to the top then I'd have to disagree but I wish I didn't have to. My main objection to the op's comments is that it's simple-minded racism. To suggest that the behaviour of an individual can tell you something about 60-odd million people is the height of ignorance and stupidity. Did I mention that I once met an Irishman - he was a drunken fool with a fondness for fighting. Should I say that is typical of all Irishmen? That is what the op is saying.
The point on UK stocks/investments declining is interesting. I'm fortunate enough to invest in a stocks & shares ISA. Before I invested, I looked at the historical returns for the last 15 or so years. The UK is pretty much flat and it's yet another reason the country is dying on its ****. - In 2007, the FTSE100 peaked at ~6600. It's now 2024, and in 17 years it's now hit 8300 or so. That's a ~25% increase and far below inflation, even. - In 2007, the S&P500 peaked at ~1500, now it's at >6000, a 300% increase. Why would I invest my savings in UK companies if I can get much better returns elsewhere? If I (a pleb who has a little bit of savings) have noticed this, the effects at the top level must be huge. Meanwhile, why does the UK government allow me a £20k per year tax-free investment when I can just whack it in an S&P500 or global tracker, and what good is that money doing for the UK? It's not being invested in UK companies, and I'm not spending it. Seems daft to me.
The biggest difference between Ireland and the UK is leadership and it's the factor that makes all the difference! In Ireland right back to 1973 the EEC/EU has always been presented as an opportunity to be taken advantage of and even most of the veterans of the war of independence were strongly behind it, while in the UK it was presented as something unpalatable that had to be endured and the root of all evil. I was a consultant back then and every time a new directive would appear you could count on two things: Ireland would find the simplest way possible to implement it while the UK would go out of it's way to make it complicated and then blame Brussels. A case in point was the payment of farm subsidiaries, Irish farmers followed a simple administration process to obtain early payments while UK spent months complicated processes to obtain late payments and this went right down the line. Early payment of subsidies for things like winter feed stuff is time critical for farming, so it had a major framework. The reality is that the UK never organised itself to take advantage of what was on offer and paid the consequences!
If you can find data in real terms, not nominally, and to use median data in comparison with average, would significantly improve the perspective of your economic vids. i appreciate your vids!!
The low corporate tax rate was and is particularly attractive to US manufacturers of high value/low volume products like pharmaceuticals and computers which could be exported by air freight and many established plants here. David McCabe Dublin plus English speaking, good education and a similar legal system compared with the complicated European system.
Just because we're more successful than every area in the UK apart from London, doesn't mean we're a success. Dealing with the housing crisis and droves of young people saying "fk-this I'm off to Australia" is a massive problem. Immigration from Europe and some South American countries such as Brazil can plug this gap but the ones we are getting these days are mostly from Africa and the Middle East. If those people couldn't work for a living in their home countries then moving to a place like Ireland where they can barely speak the language and don't integrate with the culture because the culture of the place they abandoned is somehow better, isn't going to help us here. We have our problems the same as everywhere else and I don't feel that broadcasting that we're a success is that smart as it will incentivise more people who could not contribute anything useful even if they wanted to, to come here and drag the rest of us down.
The vast majority of immigrants here are working and needed. Stop believing internet lies about asylum seekers and illegal immigration. It’s all bullshit especially about free houses and cars etc
Per capita twice as many Irish adults as their UK counterparts live with parents . Eight fold increase in Dublin housing costs during the past 3 decades .
Just because Ireland established the 'lowest corporate tax rate in the advanced world' - Does NOT mean it is a scam. Nothing stopping any independent nation from doing the same and any company would HQ there out of common sense. Ireland is competing with much richer/resourced countries and punching above its weight and similar to other bigger countries we have issues in housing and health care. IMO, our biggest problem is management of this wealth as we are just not used to being in this position. Planning is appalling and whether for housing or infrastructure the govt dithers and wastes vast amounts with feasibility studies but does not make sound decision. This was a typical Economists post - 'told you so', but after its occurred.
UK government in contrast constantly increases taxes, also the business ones. It’s really encouraging people to be entrepreneurs. Well done UK…, that’s the way to go (as we can see) :/
It would be interesting to see a modified GNI figure for the UK, that takes in accounts for the Financial wizardary that happens within the City of London.
The Irish tax rate is not 3% it is 12.5% on earned income/trade (what they produce in Ireland) and 25% on all passive income, dividends, monies from foreign trades etc and 33% on capital gains. The Irish government departments are very helpful to corporate employers, particularly the department of enterprise, who exists to please and offer incentives
The Uk has a lot of inherited wealth due to colonialism and exploitation. This wealth is in the hands of a relativley few families (including the royal family). It isnt reflected in economic figures however
So what’s to stop the UK from doing similar, perhaps with low tax for inward investment that results in an increase to the UK housing stock in double quick time?
uk no longer in EU so companies dont have any benefit to start reporting their earnings, Ireland is in eu hence apple for example reports all of its earning for EU in ireland.
@@nothereandthereanywhere I don’t really know but if any growth is truly going to show up in the uk any time soon then something consequential and creative is needed . I’m not seeing that right now
€24 billion budget surplus this year(not including the €16 billion from Apple) on top of similar results the last 3 years made the Government set up a sovereign wealth fund. Yes Ireland is extremely rich and doing very well.Corporation tax is 15%. Not extremely low compared to other countries.The constant articles and videos from the UK trying so hard to downplay Ireland's success is telling.
Well Ireland has a national dept of 220 billion and also has 319 billion of 10 year US bonds, irelands state pension has a 600 billion deficit. We have borrowed to an all time record, but supposedly wr are rich
Excluding London then Ireland is doing far better than the UK. But unfortunately Dublin has become a mini London. Soaking up a huge % of Irish people, jobs and money
Higher GDP per Capita certainly, but pretty much everything is more expensive, some things eye-wateringly so. Many in Ireland do their weekly shop in the UK and travel quite soome distance to do so.
@@firstlast-hj2sb On the basis of price, there is really no reason to do so. At one time Diesel was a bit cheaper and that was the only product that was, but that's no longer the case.
Many in NI earn their weekly wage south of the border and travel quite some distance to do so. I worked for two medium sized companies in Dublin back in the 2010s and both had lots of UK citizens working there. The salary levels are incomparable. A shocking statistic I saw recently, in the Guardian I think, was that NI residents average more in state benefits than they pay in tax. The resistance to a united island, inevitable as the economies become more entwined, is mostly from people who want to sponge off London forever and are afraid that Dublin will give them jobs!
@@thurmanmerman2720 Unemployment in NI isn't a big problem and you're right, a good few commute to well paid jobs in Dublin but NI is by no means self-suffieient in taxes and as with Wales and Scotland, the English taxpayer chips in. One of the tricky matters to resolve in the event of a successful Border Poll is how that money is replaced.
Ireland is little more than a corporate tax haven. It’s the only reason large corporations set up there along with investment funds and anyone else wanting low tax and low regulation whilst still benefitting from being in the EU. It’s a strategy that has succeeded.
This is an entirely misleading video. Ireland is only in a position of wealth due to it's extremely low Corporation Tax [ 12.5% ]. And it's economy run on " gig workers ".
Everyones Ireland's GDP is wrong arguement is 7 years out of date. Allways seen in the comments section on TH-cam videos about the Irish economy. Ireland and economists use a different more accurate metric MGNI as mentioned in the video. Good to see an accurate and informative piece.
The UK has paid hundreds of billions into the EU, Ireland has been given 10's of billions of that money, so obviously Ireland has got richer and the UK has got poorer, it's not really rocket science. They also cut corporation tax to 10% and a host of US multi nationals moved their European base to Ireland to avoid corporation tax in France, Germany, UK etc. Thats all great and all that but if those multi nationals move out there will be a big financial earthquake in Ireland and not much will be left.
Britain stole most of its wealth from the colonies that it plundered. Now that the empire is gone, Britain is no longer wealthy. Such a shame that such a superior race is no longer in charge. 😅
How can you be independent from yourself, there are more people of Irish descent in England than there is in Ireland, we are one nation under god 🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🏴🏴🏴🇳🇿🇦🇺
They are there because Ireland was colonised by a neighbour who sucked the wealth from the country, kept the people ignorant and remember, Ireland was part of the UK when the famine occured the Brits exported food rather than feed the people and evicted them onto the side of the road when they couldn't pay their tenancy taxes because they were starving.......United Kingdom my arse.
uk is failing.Id say in 20 years time scotland and NI will leave the uk while the eu will grow in numbers.The next couple of years will be interesting with trump coming into the white house planning to put tariffs on all european countries including the uk.The Eu would be in a much better postion to make a deal with the usa.The uk will be probably thrown to the end of the line.So much for the apperent special relationship between the usa and the uk that ur Pm was was talking about.
@Steven The EU around in 20 years lol, the project will be obsolete soon enough! How's the car industry in Germany & France?🤣🤣 Remoaners tears taste so sweet!
You are much better off living in the UK if you can get around 50k or more, Ireland is a rip off in regards to cars and housing, still very backwards outside of the major city areas and is country wide packed with migrants. The UK still has its own culture in the rural and farming areas and has vastly superior retirement options to avoid tax.
I didn't have time to go into Brexit, This explains what went wrong th-cam.com/video/oL4di32phXw/w-d-xo.html
I live in northern Ireland, but have worked in England and republic of Ireland, I can in all honesty state that the Republic of Ireland is far better off than most of Britain, I was a child in the 70,80s and I can tell you parts of Ireland and there way of life had not changed in a hundred plus years, thatch houses out door toilets farm animals inside the house...... That is no longer the case, Ireland is a modern confident country who's best days are ahead of it, unfortunately Britain's best days are behind them, Irish people built other countries now they are building there own 😊
Good point
But we are still building other countries with millions of Irish still living abroad,
Yeah... Travelling the border near Newry in the 80's there was a very distinctive change in the landscape. The only comparison I could make is to post-soviet states just after leaving.
"there way of life had not changed in a hundred plus years, thatch houses out door toilets farm animals inside the house", dude. I'd suggest that what you're saying could well have been true in the 1950's but by the time of the 70's and 80's there was a lot of concrete being poured, supermarkets with conveyer belts, cars, even heroin.
Ireland uses a modified way of looking at the value of the Irish economy without the effects of the MNE sector and airline leasing to better understand the Irish economy but The UK doesn't have a modified statistic for taking out the effect of the City of London's..... well..... mmmm.... aaah..... how to say this politely..... Money Laundering.... so most of the UK is in economic ruin but London is doing well.
I would add just a small percentage of londoners, most are broke.
I was in London last month, it's dire.
of course ireland is richer,. Regardless of whether their GDP is distorted, the obvious fact is they now have so much money that they don't know what to do with it, hence they are setting up a sovereign wealth fund.
They are just a tax haven for Apple. There is no substantive basis for Ireland's economic position. If Apple ever pull the plug, Ireland is stuffed. If they do have enough money for a sovereign wealth fund, then they should sort out their homeless problem and obvious poverty, not to mention paying for their own defence by forming a realistic airforce with fighter aircraft and anti-submarine aircraft.
Did you know that a long time Taoiseach (Prime minister for all intents and purposes) Bertie Ahern while Taoiseach and as Minister for Finance had no bank account.
Just think about that. He's basically saying "You can't audit my accounts if I don't have any accounts". Fogeddaboutit.
In 1920, the UK took the 6 counties that had 80% of Irish industrial power base an created NorthernIrland against the wishes of 76% of the Irish voter based on the general election of 1922
Did you want a civil war? The unionist in the north weren't going to be ruled by what they saw as Papists in the south.
Yes and the north can't borrow set its own fiscal policies or corp tax rate so last 20 years has lost out on a huge amount of FDI. Britain forces it to adopt policies that crush its economy yet the northern part of Ireland is the most highly educated region of the UK. It needs to get out ASAP. Unionism is a tradition of begging and subordinate to Britain instead of building you're own free country.
The election was in 1918, the last election of a united Ireland.
The British kept the richest part in order to keep Ireland poor.
As an Irish man here our economy is horrible. We are a tax haven for multinational companies. Wages may be higher here than the UK but our cost of living is triple.
And my old leg is sore and I don't get enough sleep.
Corporation tax in Ireland is 15%.
Ireland runs a budget surplus.
Irish government pays 1.9% less to borrow on the bench mark 10 year bond market.
Teachers in Ireland, like 90% of Irish uni graduates leave university (education) debt free, unlike their British counterparts who leave saddled With a lifetime debt.
I myself, went to University when I retired at 55 years of age. Free tuition and financial support as long as you keep passing your exams.
It's easy to do when Ireland is stealing our tax !!!
12%
.... and the National Debt ?.... 🙄
@@joeythelipz It went up to 15% in January 2024
@@cornwalleav interesting - so is this the beginning of the end for Ireland?
Must really hurt in England to see the paddies doing so well
It might really hurt the Irish to know the British dont know, and they dont care. All this talk of gdp per capita, I heard Manchester has a bigger GDP than ireland so I dont know. The Irish (like most former colonies) say they hate the British ( with good cause) but the British today dont care.
Yea, the constant articles and videos trying so hard to downplay Ireland's success from the UK is telling.
They don't really care about the irish either way
If you drive from the Republic into NI you see a stark difference between the road infrastructure. NI looks poor.
It was literally the opposite back in the 90's. The first time I saw a tractor brake and indicate to turn right into a field I knew I was in a different country. Working lights and not just an indicator but someone willing to work the indicator. Trimmed hedges too. The roads were kept in good nick in case troops needed to be deployed.
I have lived in both countries. Ireland is certainly not "richer than the UK" as a whole. However Ireland's economy has made huge strides in the last 40 years, and this success shows up some of the many failures in the UK economy, whose malaise is self-inflicted.
Because Ireland was once a region of Britain, the poorest region, in fact. Today Ireland is undoubtedly much richer than many British regions, places such as Wales and Cornwall, and most clearly, Northern Ireland. Arguably Northern Ireland was held back by civil strife but not Wales or Cumbria or Cornwall. These places are worse off than Ireland because of successive Tory policy enriching Southern England at the cost of everywhere else.
UK exports only 2 billion more than Ireland to the US, gap is closing by the day
Ireland is definitely richer than the UK. Take out London and the UK is a garbage country
Ireland was never a region of Britain. It was one of the four nations of the UK. And we only have to look at the statistics that show Northern Ireland as the second poorest region of the current UK to confirm that the struggle for independence for 26 counties of this island was worth it. Our duty is now to raise up the economy of those 6 counties that remain in the UK for now.
Ireland was never a region of Britain but an enforced part of the UK. It was a in reality an exploited colony rather than an integral part of UK and it set the country back centuries. Famine is a perfect example of this. Blight hit all of north Europe but British land policy in Ireland meant Irish people had no land and were forced to rely on easy to grow potato. Therefore blight was devastating leading to death, mass emigration for decades and economic stagnation. Economy only recovered in 1990s and population is only hitting 1840 levels now , 180 years later. Only country in Europe whose population now is less than 180 years ago. The economic impact of this and subsequent growth of Irish economy in last 30 years should bot be underestimated in light of this.
I read a quote a few days ago which I thought was pretty accurate and appropriate here, ‘London is a first world economy attached to a third world country.’ Sad but true and this was highly evident during the Covid vaccine rollouts.
Right, regional inequality is evident everywhere, in Ireland as well, but in the UK it's extreme.
It's a city state
Exactly. Same for Dublin & Ireland.
@@DavoInMelbourne here mate. One for you.
Google-
"BBC, barrow, BAE, aukus, 5000 houses"
Type that string, then post back informed.
Third world is obviously an exaggeration.
I am a retired 86 year old dublin based chartered accountant who has lived all my career in Dublin save for some years in London and Paris. To understand the Irish economy one must start with a reading of "The first program for economic expansion" published in 1960. This transformed the Irish economy with differential corporate tax rates for manufacturing 10% and distribution/services 40% (initially zero corporate tax on exports of manufactured goods). It could serve as a model for the slumping UK economy. David McCabe
Ireland’s standard of living is much higher than Englands. Yes you have massive pockets of wealth in the UK, but irelands wealth is spread more evenly. However, compared to the USA, both Ireland and the UK, have lower standards of living, although that is changing in the US.
The US has some great wealth but also has some appalling poverty.
Changing in Ireland aswell - we’re following the uk and us into the hell hole through our immigration
The most pernicious lie told by the British monarchy and aristocratic establishment is the idea of English supremacy within Britain itself.
Britain has long been an Anglo Celtic European fusion, Ireland should have been a natural partner of the UK, a true United British Isles, in full and equal union, a land where the Celtic part of our identity is not ridiculed and minimised, but celebrated.
The irony that in creating an English supremacy, the people to suffer the most were the English, as the accents, traditions and values of those English in the provinces, that did not meet the perverse view of English values espoused by the aristocracy and monarchy were deemed repugnant. This also led to a concentration of power in Westminster, to the great harm of the English regions.
You're delusional. There is no appetite or prospect of any kind of political " union of equals " between Ireland and Britain.
Withdraw to your own country, and form bonds as close as you like as separate equals.
The British exploited Ireland like its other colonies. Ireland would be poor like the part the British annexed but for our spirit for freedom. We ain’t going back.
@@genghisthegreat2034There was from approximately 1880 to 1917 when Parnell’s Home Rule party then Redmond’s Irish Parliamentary Party were the most popular party in the then British province of Ireland. Our contributor is taking a long, historical view on our two islands’ relationship. Obviously, no one in our Republic would seriously consider any other status than independence from GB 100+ years on, and neither would any British neighbour with basic knowledge of our long, common history.
@valerieh, anyone who'd interpret the Parnells Home Rule party, and poor Redmond's sequel, just isn't in the mindset of Ireland. Parnell's party was necessarily hand in glove with Davitt's Land League, in a joint enterprise on the existential issue of the time, in the only peaceful manner open to them. As late as 1902, a 72 Yr old village schoolmaster could be jailed for ' seditious speech ' , alongside his IPP MP, by advocating from a public platform that no one should take up tenancy of the land of an evicted tenant. It's in our family heritage still.
So make no mistake, the people of Ireland were never going to be contented subjects; the ownership of the land was a painful way point on the road to Easter Monday 1916. Redmond thought he could get it by advocating volunteering for the British Army in 1914; 50,000 from what is now the Republic paid for his folly, and the British response to 1916, and in the War of Independence was his answer. That and utter dismissal by Sinn Féin in the 1918 Election.
Wow, what a weird take on the UK.
It's stats like this that show how limited gdp is as a useful metric.
It's more helpful to compare Ireland with a region of Britain. Ireland is much poorer than London, but compared to say Wales, Ireland's economy is 5x the size. I think this is an indictment of successive British governments more than it is praise for Ireland's policies. It shows how valuable independence is, and how Britain's regions are screwed by the wealthy South East
@lubumbashi6666 if the UK had comparable corporation tax then its gdp would be much higher as the video explains. But the average person wouldn't be much better off. Lots of money passes through Ireland but most Irish folk never see it. So it's not a very useful measure of anything
Gdp IS indeed a limited metric as are weight categories in boxing.
Nevertheless, per capita, Ireland is "better off" than the UK using practically any other metric. Amazing considering how poor Ireland was a century ago.
@@lubumbashi6666 by the same token "Dublin" is wealthier than "Sligo".
@fintonmainz7845 but there's no neat definition of what "better off" is. That's the point. And crucially gdp says absolutely nothing about distribution of productivity and very little about wealth. Both of which factor into any discussion of being better off 👍
Because Ireland was an economic backwater in the 1970's we were able to adopt radical strategies towards FDI that are now paying off in a huge way. It's harder when you've got an established manufacturing base or other existing model that you've got to deconstruct. Of course the Irish government adopted stupid protectionist strategies from independence though the 1960's which put us decades behind so I think after that everybody knew nationalism was a dead end.
I work in construction and the negative side of things is the taxation for regular people is quite high, and the budget is blown on a lot of unproductive stuff. Building infrastructures all snarled up in planning. It's hard to get things done at scale in a small market as well.
Totally agree... it is the irony of ironies, when you consider how frigged up the Construction sector at home is, when there is '000s of Irish working all around the world on some of the most high profile projects.
The New Children's Hospital is a national embarrassment and damning indictment.
Just look up what Peter Ryan economist has to say. FDI was a mistake
Go Ireland!
Not to compare but Ireland has caught up or maybe the UK has regressed. I remember the late 80's, the economy was very bad here. Three of my sisters moved to London for work. Two have since moved back (the last ten years). What's noticeable is the increase of folks from the UK here now, so maybe their situation is some bit better here
My 2 cents. IRE is a small, open economy. It can't indulge in magical thinking as an independent nation state. There was enough of that in the 30s , 40s and 50s. The result was poverty, emigration and shrinking pop (down to 2. 8 M or so in the early 60s IIRC). Central to the turnaround was education, exports, FDI and the EEC /EU. Oh, yeah, English speaking and lower taxes certainly didn't hurt. These factors exist within the bigger system of the EU, which allows smaller open countries like IRE, Denmark, Netherlands etc to thrive. And they do. Bigger countries thrive too, but the smaller states do particularly well, IMO.
Our UK cousins have lots to be proud of. It is the birthplace of the industrial revolution. Many wonderful technologies were developed in the UK, railways were pioneered there, the UK civil service is well regarded as competent and not corrupt, music and theatre thrive there. So, what has gone wrong in recent years? My impression is the UK is indulging in magical thinking of its own. I would offer the Brexit fiasco as an example of this. I visited the UK often in the 2016 period, and saw and heard the debate. It was remarkable to an outsider. The lack of knowledge, misinformation, gaslighting that took place during public debates and in media coverage prior to the referendum, was remarkable. For the man in the street not to know how and why the EU operates is fair enough. But for government leaders, thought leaders, and UK industry not to speak up forcefully, was notable. In IRE, in contrast, the family pet understands the importance of the EU to the country's prosperity, and while there's plenty of debate, 90%ish of ppl accept that the EU ain't perfect, but it's really, really important. Mischief makers and opportunists like Farage get no traction in IRE, bc ppl understand, on this subject at least, what side their toast is buttered on. Brexit isn't the only reason for the UK's decline, but it reflects a very narrow transactional, short term approach of special interests ( e.g. politicians, money laundering in London, nostalgic for empire types etc) beating out the broader, national and strategic interests of the nation. I wish my UK friends the best, and hope there is a turn for the better soon.
Copium
As an Irish man I can’t disagree with you more.
Ireland is unfortunately going to come crashing down. We are currently undergoing a social transition in population bigge and faster than the Uk ever did. A result of this is that huge swathes of the native population are being left behind.
Ireland has gone from 3% foreign born in the 1990s to 22% now. In Dublin it’s much more than that.
It took the UK 70 years to reach those levels of immigration and look how much discontent there is in the UK now. Ireland is playing a very dangerous game.
I also think the over emphasis on academia in Ireland is causing massive problems. If you work in anything that involves skilled labour it is obvious that we have a startlingly huge skills shortage. What good is a service based economy if you can’t build anything?
One of thr best articles written so far in the comments section😊
It wouldn't be hard for the Irish Economy to do better than the UK Economy.
Expect 2025 to be financially hard with unemployment and a recession.
I wish I could take that wager. Growth in the UK will continue (albeit at low levels but that's the new normal) and unemployment will remain low.
Life has been hard for people at the bottom for the last 20 years (certainly since 2008) and huge competition for low cost housing and jobs merely compounds their difficulties. That started under Blair.
@@Lawrence4000-s3k Most Growth over the last 40 years in the west has been driven by more debt and recently by government/public sector spending.
@@johntheaccountant5594 I'd think most growth has been achieved through technological advancement, as it always has. It's why Europe is falling behind and is looking increasingly irrelevant in the world economy. We're heading for 10%.
Britain & Ireland, No part of Ireland is in Britain. NI is in the UK
Absolute tosh!!
Why just Ireland? In a few years you can pick almost every country that will surpass England.
Utter tosh..
Remoaners tears, tast so sweet!
How's the powerhouse of Europe doing these days?😂
Still waiting for the mega trade we were promised post Brexit ,oh wait I hear one is in pipeline with the Solomon Islands.
Just to let everyone in the UK know, we're all flash Harry's now! Coffee, Wine, boxer shorts, we don't know ourselves! We even have our own shoes and everything. All we need is another Jack Charlton and we'd be setup for a decade 😎👍
Rolling in it. Next we will be able to afford houses at this rate! Or a bit too far maybe…
God Bless Jack. Very seldom do we irish praise a British person.
Only other person I know of us Big Jim Larkin. Founder of trade union movement. A statue of which is erected Dublin and Belfast.
@@A-se2ur
I was 37 before I had my first continental holiday.
But 30 before I had ny first mortgage.
And the moral of the story is, nothing in life is free.
People today buy coffee and sambo every day then bitch about not being able to save for a deposit.
@@williampatrickfagan7590 Five quid on coffee every day is 1825 a year. Cutting out that daily coffee means someone could buy a house in only a couple of hundred years. This analysis suggests you're talking nonsense.
@ChopsUm
If you put 5 euro a day into an investment fund over 40 years, equals 5 x 365 x40 years equals about 800,000 euro with interest..
That is how I saved my house deposit. I SAT in 7 nights a week for 5 years. No pub no eating out no take aways, for 5 years.
Try it
It works
Approximately 950 American multinational companies operate in the Republic of Ireland, directly employing 209,000 people and supporting an additional 167,000 jobs indirectly, contributing significantly to the Irish economy. These companies include tech giants like Apple, Google, and Microsoft, pharmaceutical firms such as Pfizer and Medtronic, and financial services firms like Citi and Bank of America. Combined, these companies spend over €41 billion annually in Ireland, with notable regional investments in cities like Cork, Galway, and Limerick   .
Ireland employs over 150 thousand Americans in irish companies in usa
@@Irish780 That's often forgotten. However, it doesn't take away from the op's point. €41 billion is a huge boost to an economy of just over 5 million.
The difference between them is Ireland earned what they have whilst the uk just took what they have
Bullshit, Ireland is getting richer because it's a tax haven for global companies. In other words Ireland is stealing other countries taxes !!!
The Irish received massive transfers of EU funds and rewarded their benefactors by running a tax system that amounts to little more than a fraud on their taxpayers.
The UK built the modern world, btw - everywhere followed the model pioneered in Britain.
What a childish analysis. Ireland has little real economy to speak of. Ireland has become implausibly rich by becoming global tech's tax haven. They've sheltered global tech corporations from paying decent levels of tax elsewhere by offering pitiful levels of corporate tax in exchange for Ireland getting to hoover it all up. At the same suffer getting huge EU fund transfers. Shameful stuff......
Guinness is owned by a British Company Diageo, Ireland was always a major supply for British Beef and Dairy for centuries not just when Ireland and the UK joined the EEC, dealing with the housing shortage had to be put on the back-burner due to Ireland have to protect itself from the fallout of the UK's exit from the EU (this included David Frost meeting with Loyalist terrorists in May 2021 and the UK Government weaponsing refugees from Oct 2023 to July 2024 with An Garda catching over 7,000 weaponised refugees) Ireland increased direct ferries to the Continent from 4 per week in 2020 to 44 per week now and a marketing push in the EU and the US Markets, Ireland largest export market in Europe is now Germany and Ireland in 2023 was the second largest European exporters for goods to the USA, also Ireland isn't on the OECD homeless list shown but it is at 30 people per 10,000.
Diageo in turn is owned by a bunch of American investment groups and run by an American CEO. Guinness still (mostly) an Irish made beer.
Ireland sounds like it's doing great. Now is there any chance you can stop running a parasitical tax-system that merely denies other exchequers of tax revenues?
One garda.. two or more garda is gardai.. so where you say An Garda is not exactly correct fyi
@@rua999rua999An Garda is short for An Garda Siochána. Our contributor’s use of the phrase is completely correct.
@valerieh84 I do know that.. I am Irish.. I am saying nobody says An Garda as he said it.. so our contributor is unfortunately wrong
Perhaps Europe’s help for decades had something to do with Ireland’s growth, just like Poland nowadays
This is exactly why Ireland 🇮🇪 thrived
The EU is a huge interstate levelling up and integration project, unlike the last Tory government's effort which took money from deprived areas and sent it to Tunbridge Wells (according to Sunak). No wonder Britland is a wasteland.
For the last 20 years Irelands been a net contributer spent more than it receives in funds from the EU
EU levelling up on an international basis, the UK can't achieve same nationally
Without the EEC in the 80s Ireland could have collapsed. And yet you hear obscure new right wing parties suggesting leaving the EU. Naive and ungrateful.
Thanks to the stupid people who voted for Brexit and then for Boris Johnson.
Thank goodness we did, but all is well in the EU whilst their economies boom!😅😂
@@andrewtaylor6737Keep trying. Ireland is booming because of Brexit. Imagine leaving the largest trading bloc in the world. How is the Singapore on Thames going? Bozo is a clown.
@fishy No you keep trying, we all know where the EU is going don't we but some people are delusional by thinking it's a prosperous trading block.
Thank goodness the Uk left the woke - lefty club - WEF lovers, whilst no more free money for those parasites in Brussels.
@@fishyq5077 Ireland is booming because of the corporation tax intake. Brexit is bad for Ireland with import charges.
I love Ireland ❤
80% come from "multinational" firms, not just US ones and it includes Irish multinationals too.
Irelands success is not a story without its failures as well, from the founding of the state to the early to mid 90’s it was a disaster story. And yes it had massive success from the mid 90’s till the 2009 crash and for those their during the down turn, it was not fun. But what Ireland needs to do to capitalise on this success is infrastructure, we need a better rail infrastructure and spending money with the idea of having a population of 10million. But alas Ireland is bending the knee to NIMBISM. Ireland has the perfect opportunity to take from Mayo, cork and Donegal along on this expansion, this would be a massive opportunity to see beyond the horizon of Dublin. But judging by recent elections and the big give away and essentially buying votes, I feel they will fluff it up. Those in Ireland might take the piss out of the U.K. saying nothing runs right, I say, we have the track to run, where’s yours
I’ve never heard anyone in Ireland’take the piss’ at the UK. Where do you get this stuff?
Ireland’s problems when founded as a state were as a result of exploitation and neglect by UK. What has been achieved in 100 years is remarkable.
My daughter and boyfriend are living with his parents. For the last four years. And have two good jobs , and still can't find a house to buy. Never mind, afford one. They are not feeling very rich.
How could they not feel rich if they're not paying huge rent?
@@LL-vk9zc
So, you don't care about people living in overcrowded conditions where you have multi-generational families living in one home, that is going back to the 1950s and 60s
Best way of looking at this is PPP interacting with household disposable income
Ireland could think about investing that extra money in a sovereign wealth/investment fund, Making sure the current prosperity keeps going into the future
260 billion in debt, how about start paying that shit off first ha
...I think they're probably just going to spend it on new arrivals... like everybody else... 😂
Ireland has started a sovereign wealth fund,thinks currently 12billion annually
@@rytiskurcinskas7179 Most of that Irish debt is Irish Public Sector pensions, financial commitment eg membership fee to the European Union and Irish Government bonds of various terms including my €400 in Prize Bonds.
So do you think the Gardai, Teachers, Council workers shouldn't get a pension after the pay a percentage of their wages in superannuation to the Tax Revenue? Irish Public Sector pension takes up just under 50% of the present national debt or maybe you think that they should be given that money back to put in a private pension fund???/
@@ontheslide2339 No, spent it on a Children's hospital and a bike shed.
There's still higher taxes and worse healthcare in Ireland. The people in Northern Ireland would not vote for a united Ireland for higher taxes and worse healthcare.
I wonder what happened in 2015 that may have caused Ireland to outstrip UK in economic growth.
They let global giants like Google, Meta, Microsoft and Apple, amongst others use them to avoid paying higher taxes elsewhere in Europe. Ireland is stealing other peoples taxes.
If this is a comparison then how about the dark money in London for 100years including Russian African and Arab tax evasion
Great video.
Every country is richer than the UK.
Is that possibly the stupidest comment on TH-cam ever??
@@paullarne I've heard worse - on the subject of Brexit some of these remain-people wouldn't stand-out in a crowd of the lobotomised.
Yeah sure, I'm sure people from Chad, Laos, Surinam and Albania would agree with you ... Dope!!!
Especially Bangladesh or Syria.
People living in London doesn’t have it better than the one in Dublin…
The UK has been exporting taxpayers and importing benefit claimants.
Talking about GDP growth is really only meant to tell investors thats going relatively well. But ordinary folk never see the benefits if auch growth.
The strong deterioration of "living together" is observed in simple events of life (both in the UK and in France).
Let's take the example of a dispute between neighbors over the fence which separates their property.
Let's ask who pays the replacement of the rotten wooden fence with a beautiful PVC fence?(PVC=polyvinyl chloride; a synthetic thermoplastic material )
or, in the event of a storm which destroys the common fence which pays for the new fence etc... well in 2024 both in UK and in France?
simple ? not because "" the legal proceedings usually far exceed the cost of repair. ".
“There is nothing to add, in all areas it is the same, the rule of law no longer works for 70% of citizens,*
Ireland might be wealthy but where i live they haven't build a housing estate anywhere since the recession,they just finished off the ghost estates for social housing. The infrastructure is lacking and very noticeable now with the amount of refugees coming in. The government that was re elected is more dublin central. Their is better roads in the kerry mountains than in cork city😂 the government is very lacksy daisy. I know of a garda station that has taken a year to fit new windows in. This will be the downfall of us in the near future
Migrants lad lets be serious
Those poor coppers working for a year in a cold, draughty station, hope they're alright.
I learn so much from your videos. Thank you.
I agree Ireland is doing very well but it hasn't come without cost. I visited O'Connel St recently-you barely saw an Irish face. I don't mean like an english cities multi-culturalism which I quite like. I mean the character of the place had fundamentally changed from 20 years ago. I'm quite liberal on immigration but given the importance of Ireland's culture I think they might have gone a little too far. (please no Farage crap here I don't agree with xenophobia I'm talking about a very specific situation).
Yes dublin has changed quite alot but it's not a reflection of the whole country,the recession and austerity measures the government implied is still very much affected rural areas and towns, homeless only used to be seen in cities now I see homeless people alot more in towns recently
I was in Seattle last year with some very high worth individuals at a meeting discussing opening a new division in Europe. There was an English guy present and let’s say he talked down to his colleagues. Anyway later at dinner and after he drank too much he told us all about the Argentine falklands war and it started to get ugly. Needless to say he was put back in his box by better educated people from America who clearly he couldn’t understand were better educated then he was and were comfortable in themselves, he clearly sounded like a mad man. I think it’s really sad the decline in British abilities and I put it down to raw nationalism and the poor education system that doesn’t encourage critical thinking. They really need to wake up. Needless to say the jobs are not in the UK. Not sure if it’s a fact it was a result of this guy, but I have my suspicion. Beginning to look really silly outside of financial services which are still world leading.
That’s not a decline. That’s how they always been. Condescending, over confident, arrogant and obnoxious. You just haven’t met enough in the wild. WWII, the Falklands, World Cup ‘66, the SAS are better than the Navy Seals, thick Paddies only died because they only ate potatoes, the British empire was run by only a few thousand clever Englishmen. A few drinks and it all comes out.
This is a bizarre story. Why would an ill-educated Englishman be dining with high worth individuals?
And as far as education goes I'd suggest there are few countries that can match the top UK universities: Oxford and Cambridge are the equals of any university in the world so it's not as though a good education is unavailable..
You go further and seem to suggest that the land of Donald Trump and MAGA look down on what you say is 'raw nationalism'? Have you seen whats' happening in Europe with the AFD, Le Pen, etc.
I get that you don't like the British and that's fine but stories like this just lack credibiliy.
@ this guy was not educated in Oxford or Cambridge. I don’t think anyone present was. I think you probably think that was a problem 😂 Hey dude, you sound very odd mentioning two universities to make a point about a country in steep decline. Perhaps that’s your comfort blanket like this guys believe when he told us that Britain doesn’t need America as they defeated the “Argies” as he called them. So we have two universities and the defeat of the Argentinians 40 years ago as a reason to be excited about UK. And to enjoy being talked down to.
@@Lawrence4000-s3kI have to agree with the op on this one.
There is strong evidence of barrow boys often getting into high places in the UK.
Result: Brexit
@@Kitiwake You'll have to explain 'barrow boy'?
The UK has one of the worst records on social mobility so if you're saying a working-class man can make it to the top then I'd have to disagree but I wish I didn't have to.
My main objection to the op's comments is that it's simple-minded racism. To suggest that the behaviour of an individual can tell you something about 60-odd million people is the height of ignorance and stupidity.
Did I mention that I once met an Irishman - he was a drunken fool with a fondness for fighting. Should I say that is typical of all Irishmen? That is what the op is saying.
The point on UK stocks/investments declining is interesting. I'm fortunate enough to invest in a stocks & shares ISA. Before I invested, I looked at the historical returns for the last 15 or so years. The UK is pretty much flat and it's yet another reason the country is dying on its ****.
- In 2007, the FTSE100 peaked at ~6600. It's now 2024, and in 17 years it's now hit 8300 or so. That's a ~25% increase and far below inflation, even.
- In 2007, the S&P500 peaked at ~1500, now it's at >6000, a 300% increase.
Why would I invest my savings in UK companies if I can get much better returns elsewhere? If I (a pleb who has a little bit of savings) have noticed this, the effects at the top level must be huge.
Meanwhile, why does the UK government allow me a £20k per year tax-free investment when I can just whack it in an S&P500 or global tracker, and what good is that money doing for the UK? It's not being invested in UK companies, and I'm not spending it. Seems daft to me.
The biggest difference between Ireland and the UK is leadership and it's the factor that makes all the difference! In Ireland right back to 1973 the EEC/EU has always been presented as an opportunity to be taken advantage of and even most of the veterans of the war of independence were strongly behind it, while in the UK it was presented as something unpalatable that had to be endured and the root of all evil. I was a consultant back then and every time a new directive would appear you could count on two things: Ireland would find the simplest way possible to implement it while the UK would go out of it's way to make it complicated and then blame Brussels. A case in point was the payment of farm subsidiaries, Irish farmers followed a simple administration process to obtain early payments while UK spent months complicated processes to obtain late payments and this went right down the line. Early payment of subsidies for things like winter feed stuff is time critical for farming, so it had a major framework. The reality is that the UK never organised itself to take advantage of what was on offer and paid the consequences!
We really should clamp down on these tech monopolies evading tax
They're not evading tax.
They create thousands of jobs much better to a economy than corporate tax
@@overman2306 Call it what you want, I see it as abusive profiteering and collusion both by Ireland and the Tech monopolies.
AIC is net of savings and Ireland has the one of the highest savings rates in the developed world, so AIC is a bad indicator for the Irish economy.
The north of England is poorer than Romania.
If you can find data in real terms, not nominally, and to use median data in comparison with average, would significantly improve the perspective of your economic vids. i appreciate your vids!!
UK 🇬🇧🇬🇧🇬🇧♥️♥️♥️🇮🇪🇮🇪🇮🇪😊😊😊
No one is rich we are all in debt. Brexit is the best thing that has happened to this country in a long time
Sounds like karma.
Talks about Ireland.
Shows Dublin.
Thanks, great video as always.
The low corporate tax rate was and is particularly attractive to US manufacturers of high value/low volume products like pharmaceuticals and computers which could be exported by air freight and many established plants here. David McCabe Dublin plus English speaking, good education and a similar legal system compared with the complicated European system.
Brexit....Brexit.......Brexit......Brexit.....Brexit....Brexit
Thank you for this, very interesting.
Just because we're more successful than every area in the UK apart from London, doesn't mean we're a success. Dealing with the housing crisis and droves of young people saying "fk-this I'm off to Australia" is a massive problem. Immigration from Europe and some South American countries such as Brazil can plug this gap but the ones we are getting these days are mostly from Africa and the Middle East. If those people couldn't work for a living in their home countries then moving to a place like Ireland where they can barely speak the language and don't integrate with the culture because the culture of the place they abandoned is somehow better, isn't going to help us here. We have our problems the same as everywhere else and I don't feel that broadcasting that we're a success is that smart as it will incentivise more people who could not contribute anything useful even if they wanted to, to come here and drag the rest of us down.
The vast majority of immigrants here are working and needed. Stop believing internet lies about asylum seekers and illegal immigration. It’s all bullshit especially about free houses and cars etc
Everybody is by the look of things .
Please make a video on the UN global tax convention.
Per capita twice as many Irish adults as their UK counterparts live with parents . Eight fold increase in Dublin housing costs during the past 3 decades .
Just because Ireland established the 'lowest corporate tax rate in the advanced world' - Does NOT mean it is a scam. Nothing stopping any independent nation from doing the same and any company would HQ there out of common sense. Ireland is competing with much richer/resourced countries and punching above its weight and similar to other bigger countries we have issues in housing and health care. IMO, our biggest problem is management of this wealth as we are just not used to being in this position. Planning is appalling and whether for housing or infrastructure the govt dithers and wastes vast amounts with feasibility studies but does not make sound decision.
This was a typical Economists post - 'told you so', but after its occurred.
He says uk house bubble only burst a bit? Then the future bubble is bigger...
The bubble will burst, just be a little more patient.
Can't wait to see the smug faces, who said it would never happen & house prices only rise!😂
UK government in contrast constantly increases taxes, also the business ones. It’s really encouraging people to be entrepreneurs. Well done UK…, that’s the way to go (as we can see) :/
Lower taxes and the economy takes off, who would of thought ?
Well.... definitely not Trump...
@@roryoneill9444 Trump wants to lower US corporation tax to 15%
It would be interesting to see a modified GNI figure for the UK, that takes in accounts for the Financial wizardary that happens within the City of London.
Fantastic analysis, thanks. To be honest, I don't think the Irish government minded too much being forced to accept the Apple windfall.
The Irish tax rate is not 3% it is 12.5% on earned income/trade (what they produce in Ireland) and 25% on all passive income, dividends, monies from foreign trades etc and 33% on capital gains. The Irish government departments are very helpful to corporate employers, particularly the department of enterprise, who exists to please and offer incentives
Maybe but its not Ireland anymore
Yes.
The Uk has a lot of inherited wealth due to colonialism and exploitation. This wealth is in the hands of a relativley few families (including the royal family). It isnt reflected in economic figures however
So what’s to stop the UK from doing similar, perhaps with low tax for inward investment that results in an increase to the UK housing stock in double quick time?
uk no longer in EU so companies dont have any benefit to start reporting their earnings, Ireland is in eu hence apple for example reports all of its earning for EU in ireland.
Because the international commnity will accept small countries being parasitical but not large ones.
You mean Truss approach?
@@nothereandthereanywhere I don’t really know but if any growth is truly going to show up in the uk any time soon then something consequential and creative is needed . I’m not seeing that right now
Poorly educated and inflexible workforce
€24 billion budget surplus this year(not including the €16 billion from Apple) on top of similar results the last 3 years made the Government set up a sovereign wealth fund. Yes Ireland is extremely rich and doing very well.Corporation tax is 15%. Not extremely low compared to other countries.The constant articles and videos from the UK trying so hard to downplay Ireland's success is telling.
Well Ireland has a national dept of 220 billion and also has 319 billion of 10 year US bonds, irelands state pension has a 600 billion deficit. We have borrowed to an all time record, but supposedly wr are rich
Eh senor - it's pronounced Ireland, not Island. 0/10,
Influx of shell company money?😂 Plus like they say, rich country doesn't equal rich citizen. The money lump up in a certain demography
By overtaking UK's main business. Money laundering. And tax dodging
Ireland in the 1980's had massive unemployment
Excluding London then Ireland is doing far better than the UK. But unfortunately Dublin has become a mini London. Soaking up a huge % of Irish people, jobs and money
Higher GDP per Capita certainly, but pretty much everything is more expensive, some things eye-wateringly so. Many in Ireland do their weekly shop in the UK and travel quite soome distance to do so.
Many in Northern Ireland do their weekly shop in Ireland
@@firstlast-hj2sb On the basis of price, there is really no reason to do so. At one time Diesel was a bit cheaper and that was the only product that was, but that's no longer the case.
Many in NI earn their weekly wage south of the border and travel quite some distance to do so. I worked for two medium sized companies in Dublin back in the 2010s and both had lots of UK citizens working there. The salary levels are incomparable. A shocking statistic I saw recently, in the Guardian I think, was that NI residents average more in state benefits than they pay in tax. The resistance to a united island, inevitable as the economies become more entwined, is mostly from people who want to sponge off London forever and are afraid that Dublin will give them jobs!
@@thurmanmerman2720 Unemployment in NI isn't a big problem and you're right, a good few commute to well paid jobs in Dublin but NI is by no means self-suffieient in taxes and as with Wales and Scotland, the English taxpayer chips in. One of the tricky matters to resolve in the event of a successful Border Poll is how that money is replaced.
By design. We were betrayed.
Lesson for Scotland here.
Ireland is little more than a corporate tax haven. It’s the only reason large corporations set up there along with investment funds and anyone else wanting low tax and low regulation whilst still benefitting from being in the EU. It’s a strategy that has succeeded.
UK has it's own tax haven...
This is an entirely misleading video.
Ireland is only in a position of wealth due to it's extremely low Corporation Tax [ 12.5% ]. And it's economy run on " gig workers ".
Some of your coments are off the wall and are much too generalized .
Everyones Ireland's GDP is wrong arguement is 7 years out of date. Allways seen in the comments section on TH-cam videos about the Irish economy. Ireland and economists use a different more accurate metric MGNI as mentioned in the video. Good to see an accurate and informative piece.
The UK has paid hundreds of billions into the EU, Ireland has been given 10's of billions of that money, so obviously Ireland has got richer and the UK has got poorer, it's not really rocket science. They also cut corporation tax to 10% and a host of US multi nationals moved their European base to Ireland to avoid corporation tax in France, Germany, UK etc. Thats all great and all that but if those multi nationals move out there will be a big financial earthquake in Ireland and not much will be left.
Based on your level of understanding I’m guessing you voted for Brexit!
Delusional
Ireland Corp tax raised to 15%
Britain stole most of its wealth from the colonies that it plundered. Now that the empire is gone, Britain is no longer wealthy. Such a shame that such a superior race is no longer in charge. 😅
Ireland is a EU net contributer for over 20 years spent more than recieved in funding
How can you be independent from yourself, there are more people of Irish descent in England than there is in Ireland, we are one nation under god 🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🇨🇮🇬🇧🏴🏴🏴🇳🇿🇦🇺
Not politically nor genetically..
There are also even more people of Irish descent in the US than there are in the UK, so is Ireland part of the US?
They are there because Ireland was colonised by a neighbour who sucked the wealth from the country, kept the people ignorant and remember, Ireland was part of the UK when the famine occured the Brits exported food rather than feed the people and evicted them onto the side of the road when they couldn't pay their tenancy taxes because they were starving.......United Kingdom my arse.
With all this new found Irish wealth, they can support the failing EU!
Germany & France certainly needs some finacial help!!
uk is failing.Id say in 20 years time scotland and NI will leave the uk while the eu will grow in numbers.The next couple of years will be interesting with trump coming into the white house planning to put tariffs on all european countries including the uk.The Eu would be in a much better postion to make a deal with the usa.The uk will be probably thrown to the end of the line.So much for the apperent special relationship between the usa and the uk that ur Pm was was talking about.
@Steven The EU around in 20 years lol, the project will be obsolete soon enough! How's the car industry in Germany & France?🤣🤣
Remoaners tears taste so sweet!
@@andrewtaylor6737 heard that song for more than a third of a century....
EU succeeding as more than France or Germany , UK not so much
Uk doesn't even have a Car industry
Arh yes but does ireland have the comprehensive. Range of Benefits on offer that UK has ?
Is irelands age pension on a par with uk ?
Uk circa GBP 206 per week. IRL circa €265 (GBP 231) per week
Yes but how much does Ireland owe in loans from the EU
About €40b in long-term very cheap debt.
You are much better off living in the UK if you can get around 50k or more, Ireland is a rip off in regards to cars and housing, still very backwards outside of the major city areas and is country wide packed with migrants. The UK still has its own culture in the rural and farming areas and has vastly superior retirement options to avoid tax.
I can assure you there are a lot less food banks per capita in Ireland than the UK.