Could Irelands economic demise be putting off investors?

As usual, one article on its own should not be taken as gospel

Taken from “Wales Online” discussing the possible investment by a number of US “high tech” businesses in the Principality rather than here.

Not that the UK is a paragon of fiscal and economic virtue either, but an interesting comment from the UK director of inward investment and grants for PricewaterhouseCoopers.

Blue Horseshoe

Culpable Cowens incapacity and mumbling would inspire me to run for the Hills

I’d agree about not taking it as gospel. I mean, it reads to me like a fluff piece. Really no different in principle to Donie Cassidy saying Mullingar has a great future as a financial services hub, or that FTBs needed to jump on the property ladder in 2008 before it was too late. I’d expect the main difference is the PWC guy probably spent longer in school than Donie and has a more credible wig.

Its basically “Welsh-based PWC guy with some job vaguely connected to inward investment simultaneously says Wales more attractive to FDI than Ireland, while at the same time saying that the UK generally has less of a tax advantage than Ireland.”

That’s not to say that we don’t need to restore competitiveness. Just that this guys intervention is waffle from a VI. I take it this guy’s job is to advise FDI companies how best to get grants out of the Welsh State - as if engagement with State development agencies needed a middleman.

It makes logic in long-term thinking if you reckon that taxes and charges have to rise massively for Ireland to meet its annual costs including the vastly increasing debt interest and bailout bill.

I heard a rumour last week the reason Donie has been so quiet in recent months is he’s secretly buying up ghost estates around Westmeath ahead of house prices in the county surging by 50-60% by the end of the year.
Anyone know how true this is?

That would make sense, if that was what was being said. However, it is not what this PWC guy is saying. What this PWC guy is saying is that the UK needs to cut its taxes to stay competitive with Ireland. He is most certainly not saying “Ireland will inevitably have to increase taxes in the near future, so all that Wales needs to do is sit back and watch all the FDI moolah form into filthy piles on our doorstep”.

Again, there most certainly is an issue of how we are going to repay all of this extra public debt that we are suddenly taking on board between NAMA and keeping public expenditure at bubble-funded levels. Tax increases seem unavoidable, to say the least. That said, is there actually any suggestion that Irish Corporation Tax will rise? I’ve no doubt our German sponsors would like to see us do that.

But, again, I’d hate for all that to seem to give credence to the waffle spouted by a PWC guy touting for business. I’d prefer this discussion had a different jumping-off point.

[I heard a rumour last week the reason Donie has been so quiet in recent months is he’s secretly buying up ghost estates around Westmeath ahead of house prices in the county surging by 50-60% by the end of the year. Anyone know how true this is? ](I heard a rumour last week the reason Donie has been so quiet in recent months is he’s secretly buying up ghost estates around Westmeath ahead of house prices in the county surging by 50-60% by the end of the year. )

Why would anybody in their right mind be buying ghost estates in WestMeath Inis Man?

Either he isn’t in his right mind, or he has cunning plan. The only cunning plan that I can think of is that he is exposed to the property market sub 5 million euro. He is buying a few estates to take him above 5 million which would give him credibility as a developer as opposed ti a landlord and the whole lot will be taken off his hands by NAMA.

It is all quite bizzare - if true.