# GDP 'may have risen in first quarter'

irishtimes.com/newspaper/bre … ing23.html

The jobless recovery continues apace.

Dont worry lads and lassies, the economy is going to grow by 1% next year! Don’t forget to skype your granny when you’re over in New Zealand.

I also may have juggled 10 elephants, we may never know.

If its true its good news.

Unemployment always lags growth, its the same in every western economy.

Indeed!This man has no credibility so I would judge this prediction against his previous predictions. Don’t get me wrong,it would be nice if it were true,but as Dan is behind this then it probably is NOT true!

What a crook. Let’s say you are earning €50K per annum and I let out a spare room in my house to you, then say I also earn €50K p.a. Because I let out the spare room to you (12.5% corporate tax), I decide to count your income as mine and claim to earn €100K p.a. That’s GDP. So according to Dan my GDP will be €101K this year, because the guy who I let my room increased his income to €52,000, but, in the meantime my income fell to €49,000.

I agree, GDP has risen, big pick up. Still a fuck up, but still, its uppppppp!

Does Dan think taxes are going to fall?

What a crook. Let’s say you are earning €50K per annum and I let out a spare room in my house to you, then say I also earn €50K p.a. Because I let out the spare room to you (12.5% corporate tax), I decide to count your income as mine and claim to earn €100K p.a. That’s GDP. So according to Dan my GDP will be €101K this year, because the guy who I let my room increased his income to €52,000, but, in the meantime my income fell to €49,000.

I thought GDP was/is= Personal Consumption+Investment+Government Spending+(exports - imports), well thats the defination I can remember anyway.

The rest is very confusing.

Simply put bob GNP is the real growth that accrues to Ireland Inc., the remainder when you subtract GNP from GDP is the growth of the world’s wealth that is facilitated by this tax haven at the expense of the local population.

But does’nt it also benefit those that work in the FDI’s, don’t local companies/business also benefit from selling goods and services to these companies.

I appreciate the point that profits are repatriated,by these FDI’s and the CT tax is low, but I still cannot seem to understand why they are protrayed as parasites. They employ thousands who pay taxes, which does benefit the country also.

Look at the effect Dells pull out from Limerick had on small business’s there.

Exactly!! Total devestation. Short term gain for long term pain.

We’re talking about the IFSC here not Dell and the minor benefits are now completely outweighed by the negatives currently visible viz. what is happening with the banks, equities, property, etc. and what is yet to rise from beneath the surface, the remainder of the iceberg, derivatives, etc. Anglo is the mere tip of the iceberg.

The entire country has been sold into financial penury at the behest of these global elites.

The criticism of the piece by Boyracer was “exports” and them driving the GDP figures, which in my mind are physical.IFSC services are global money transfers which conduct on a per second basis wouldnt be classified in those terms.

On the point of short term gain in Dell, they were here for a long time employing many thousands,who rared families on those wages, same as Apple, Intel, HP, IBM, Pfizer to name a few.

The local corner shop will not do the same.

While the real profits went out of the country. I’m not 100% against Multinationals, I just don’t think it’s sound practice to be so dependent on them.

If they employ 130,000ish people out of a 1.8m workforce how exactly is that dependent.

We could and indeed should develop our own companies, but this is Ireland, where corruption, backhanders, begrudery is rife… Lets not throw the baby out with the bathwater.

Pharmaceuticals account for just 2pc of jobs but about a quarter of exports

We’ve delusions of grandeur.

We dont have delusions of granduer, those pharma’s contribute €3bn in CT, plus VAT,Rates,PAYE, PRSI at 10.75% paying better wages than most, exports €47bn pa.

Its being done here because we have the people who can do it… its that simple, or would you advocate it go to other locations?

Btw, there is a dedicated thread on this issue.

I can think of another reason!

Noted. As the mods would say, back on topic!

Anyone can do it, it’s the low corporation tax that brought them to Ireland.