Is Ireland Now Richer Than UK?

[@economicshelp]

I didn't have time to go into Brexit, This explains what went wrong kzbin.info/www/bejne/pX2XlZxpZ9Wbjtk

[@owenmartin3307]

The EU is doing badly, the German car industry is been destroyed, green ideology has ruined it

[@ccahill2322]

@economicshelp, You are dealing in "Junk Economics" Ireland in NOT and never was "richer" than UK. The false "Celtic Tiger" a fake bubble built on nothing but fiat money printing bu US and then a "bail out" which finally settled the hash of a sovereign state. All the lies by so-called economists about "richest country in the world" is ( because I can no longer be polite when anyone is telling me it's raining --the Yanks used to say-- they are pissing all over me.

[@rudyjakma3664]

Can I believe an expert who doesn't even know the difference between Euro and Euros?

[@ALavin-en1kr]

If politicians do not fix the housing crises they should be held to account. Deliver or be voted out.

[@davidhorn6008]

@@ALavin-en1kr The Housing Crisis was created by Politicians - Tory's!

[@peterfox5897]

a few things wrong here, you said Ireland has the lowest corporate tax rate in the western world. it doesn't. it doesn't even have the lowest rate in Europe, in fact it doesn't even have the lowest tax rate in the EU. if multinationals came here just for tax, they would be better off going too Hungary and paying 9%, rather than paying 12.5% in Ireland. Irish tax rate is competitive, but certainly not the lowest, you can get better value elsewhere, including in the EU. also you talked about Irelands economy booming in the 80s while the UK was struggling. Ireland was the number 1 poorest country in western Europe in the 80s. not 2nd, not 3rd, number one poorest country. so however bad it was in Britain in the 80s, it was considerably worse in Ireland.

[@davidmccabe4041]

Multinationals locate new manufacturing facilities on many more factors than the corporate tax rate. IRELAND offers an array of other benefits to a prospective US investor including English speaking, company law that is clear reliable and similar to the USA, a low tax rate, well educated work force, easy açcess to foreign markets especially for high value low volume products like pharmaceuticals which can be air freighted around the world, reliable and familiar legal system, and an array of quality golf courses, essential to send US executives back to the USA on the Saturday evening flight! David McCabe retired corporate banker Dublin

[@davidmccabe4041]

@@peterfox5897 I don't think I said that Ireland had the lowest tax rate in the western world.......I know that is not true having visited many of the low tax jurisdictions but thanks for looking over my shoulder. David mccabe

[@economicshelp]

Many have commented Ireland's corporation tax is higher than 3%, but this misses the point. You can have an official rate of taxation, and then the effective rate companies actually pay (ie. with all the tax breaks etc). When Apple testified to congress, they said they were paying an effective rate of 3% - and some argue it was even less.

[@shamr0ck]

​@@economicshelpthey publish their effective tax rate in Ireland now. Take a look, the effective rate is now around 10%

[@shamr0ck]

If you backdate the 13bn you referred to that too would increase that rate. Beps and other standardising efforts have put a big dent in avoidance.

[@roryoneill9444]

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.

[@vonder7]

I would add just a small percentage of londoners, most are broke.

[@Rumpelstyltskin]

I was in London last month, it's dire.

[@Bran9]

Rumpy, you are still around. Ye Devel yea😂

[@cantbendknee]

is London still doing well?

[@willyjohn2024]

For most Irish people it is not that great. The older people who own a home are doing ok the rest not so much. All the kids are leaving 70K last year. If they could get a decent job or ever had a hope of owning a home they would be staying. Birth rate is declining because why would you have kids in this place.

[@davidmccabe4041]

As a long term Irish resident since 1964 with a financial banking background I enjoyed this talk as my school education was in London. It is sad to see the UK steadily decline but the absence of business and finance from the UK education curriculum plays a factor. David McCabe FCA Dublin

[@burburchacha]

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.

[@grahamcook9289]

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.

[@Irishman0855]

Bertie the gangster

[@SuperMikado282]

@@Irishman0855 In the nylon anorak.

[@michaeldonovan6076]

Only because Apple paid up,,the rest of the cash the rest comes in from Europe borrowed billions ever looked at the national debt.

[@bikeman9899]

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.

[@xXIiIUnamedIiIXx]

Copium

[@MD-uu5nt]

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?

[@seanfagan8490]

One of thr best articles written so far in the comments section😊

[@Gary_OC]

UK cousins lol. Speak for yourself. Neighbours with a distinguished past is more apt.

[@bikeman9899]

@MD-uu5nt Since Brexit, the UKs immigration problem has changed for sure. It's just, instead of Europeans working there, they have many more ppl from Africa, India, Pakistan and the other 'stans. So, that's one problem they didn't solve. And, they created dozens of new ones. So, pls tell me how leaving the EU helped the UK, and what would happen if IRE did the same? I believe you are also lamenting the shift to a service economy in IRE too. I agree on that. Manufacturing, farming and fishing are really important. There is nothing like Manufacturing for adding value. It's difficult though, as it needs lots of capital and real know how. IRE needs more of it. But, in a small open economy, that's a big ask. Scale or size , is crucial. So, to have Manufacturing, businesses must be able to export. There's no question about that. That means the EU is critical. Most manufacturing companies in Ireland depend on exports . The UKs departure from the UK means manufacturers there are screwed.

[@squareinsquare2078]

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.

[@murrayp4]

This used to be the other way round back in the day

[@kylemenos]

Yes this is because as an EU country you get money from the EU if you are in poverty. Ireland was in stark poverty for 800 years under British rule. Some of the most vile and most egregious sickening levels of poverty any human has ever seen under apartheid. Now it is a tax haven for American corporations and will once again be struck into poverty when they leave under the load of legislation enforcement of laws based on our false 'wealth'. We recently borrowed 3 trillion again. That's more money than Canada had in debt and Mexico some of the highest in the world in fact in 2023. Now Imagine how many Ireland fit into Canada and we outdo them in debt. Yet were considered wealthy so we must give more to the EU as a wealthy country more wealthy than England a country that has a thousand years of Irelands wealth inside it's vaults.

[@killbotone6210]

I was just going to say this.

[@alaneaston1447]

The Rep of Ireland motorways have tolls in most parts, which pays towards them

[@williampatrickfagan7590]

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.

[@william_marshal]

It's easy to do when Ireland is stealing our tax !!!

[@joeythelipz]

12%

[@peterfitzpatrick7032]

.... and the National Debt ?.... 🙄

[@cornwalleav]

@@joeythelipz It went up to 15% in January 2024

[@joeythelipz]

@@cornwalleav interesting - so is this the beginning of the end for Ireland?

[@davidmccabe4041]

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

[@HereWeGoAgainses]

That's the Lemass white paper isn't it?

[@lncompetentGaming]

​@@HereWeGoAgainses TK Whitaker yes

[@davidmccabe4041]

I do not recognise that title only The First Programme for Economic Expansion.....my life was changed forever to my benefit. David mçcabe

[@amblincork]

It is a goiod deal easier from a small and economically emerging econony to be innovative in its tax policies and of course this differential corporate tax policy quickly ran afoul of EEC compeition laws and the solution was to lower the CT tax rates for all companies. That low CT Tax rate is also attractive negative attention in the US. Ireland had a great run of decades with an artificially low CT tax rate but that has limits

[@stephenmcintyre8622]

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 😊

[@robbie4084]

Good point But we are still building other countries with millions of Irish still living abroad,

[@konobikundude]

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.

[@RayDaly-sm9wv]

@stephenmcintyre8622 I'm 63yo now and I've Never seen the fabled "pigs in the parlour" nonsense we read about in the Daily Mail! Even my Grand-parents used to laugh about that!

[@Irishman0855]

Well said my friend well said

[@DeeFibbs]

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

[@Lawrence4000-s3k]

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.

[@insiderreality491]

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.

[@patfleming3835]

The election was in 1918, the last election of a united Ireland.

[@fishyq5077]

The British kept the richest part in order to keep Ireland poor.

[@TP-om8of]

That is nonsense. The majority of the North voted to remain in the UK. A referendum was held in 1973 and the vote was to remain in the UK. Recent polling shows the same. Ireland had Home Rule ready for the taking but in 1916 some idiot hotheads fomented a rebellion anyway. The result was thousands died in an unnecessary war and Ireland was divided, with the North remaining in the UK and the south becoming what is today a vassal state of the EU that has lost its moral moorings.

[@nsoper19]

It's stats like this that show how limited gdp is as a useful metric.

[@lubumbashi6666]

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

[@nsoper19]

@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

[@fintonmainz7845]

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]

@@lubumbashi6666 by the same token "Dublin" is wealthier than "Sligo".

[@nsoper19]

@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 👍

[@cormackeenan8175]

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]

Ireland employs over 150 thousand Americans in irish companies in usa

[@memisemyself]

@@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.

[@johnoconnell2446]

They do NOT make up 80 per cent of tax take. A big slice of the tax comes from the thousands of Irish companies, Many employing Thousands in the UK and USA.

[@JohnnyinMN]

Why just Ireland? In a few years you can pick almost every country that will surpass England.

[@jonsimmons4150]

Utter tosh..

[@andrewtaylor6737]

Remoaners tears, tast so sweet! How's the powerhouse of Europe doing these days?😂

[@Kevin-lf4xx]

Still waiting for the mega trade we were promised post Brexit ,oh wait I hear one is in pipeline with the Solomon Islands.

[@PJH13]

@@andrewtaylor6737 Badly, because they were reliant on Russian energy. Slightly weird that we left the EU just to elect a govt. who's decided to introduce even more anti-business regulation than the EU. Makes the whole thing seem sort of.... pointless.

[@gloin10]

“Utter tosh”? Sadly, it isn’t at all. Ireland, in terms of per capita GDP, left the UK in its dust in about 1996. Slovenia, as Chris Patten pointed out recently, now is richer than the UK in terms of average family incomes. Slovakia is on track to emulate Slovenia, while the Prague region in Czechia is already better off, on average than the UK, if London is excluded. Poland is in trend to surpass the UK’s per capita GDP by the early-2030s. The UK is sliding down the per capita economic ratings, slowly but surely.

[@BallyBoy95]

Go Ireland!

[@ShapeyFiend]

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.

[@stevendenny7260]

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.

[@matthewbarry376]

Just look up what Peter Ryan economist has to say. FDI was a mistake

[@amblincork]

Again a silly comment - ireland wasnt an economic backwater in the 70s and had a lot of manufacturing industry that doesnt exist now - yes it was an advanced an economy then as it is now

[@DavoInMelbourne]

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.

[@lubumbashi6666]

Right, regional inequality is evident everywhere, in Ireland as well, but in the UK it's extreme.

[@johnnagle7702]

It's a city state

[@johnnyFD9034]

Exactly. Same for Dublin & Ireland.

[@jonsimmons4150]

@@DavoInMelbourne here mate. One for you. Google- "BBC, barrow, BAE, aukus, 5000 houses" Type that string, then post back informed.

[@MD-uu5nt]

Third world is obviously an exaggeration.

[@norwegianzound]

The north of England is poorer than Romania.

[@sionnachog894]

I saw a documentary on Grimsby, it was depressingly decrepit.

[@jimbobarooney2861]

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

[@kylemenos]

It's gaslighting we ow 3 trillion to the EU from 2023 alone to pay for the financial crash we ignored for 15 years

[@johnpatrick5307]

@@kylemenos The Irish paid - they bailed the German banks out.

[@ironicturtle]

@@kylemenos who owes 3 trillion? ireland owes the eu 225Bn, uk owes less I thought?

[@RazorMouth]

80% come from "multinational" firms, not just US ones and it includes Irish multinationals too.

[@justonecornetto80]

What Irish multinationals? The ones that claim to be "Irish" are actually owned by Americans.

[@Red-v8z2y]

Smurfit, Kerry group, bank of Ireland, aib, kingspan,dcc, icon crh,

[@BuyXRP895]

@@Red-v8z2yin proportion to the corporation tax the US companies pay - these companies are minuscule

[@mikekelly5869]

What Irish multinationals? Serious question.

[@RazorMouth]

@mikekelly5869 so you don't really know how to look something up with that phone in your hand, you're weird.

[@Gary_OC]

I remain eternally grateful to my fellow late countrymen who freed us from British rule and occupation. 🇮🇪

[@robertbennett9949]

As in the film 'The Field', they left because 'the were driven out'.

[@Duncan-Bizkitts]

I’m of Irish descent what gets me is how you lot only see 1 side, both my schools were full of Irish kids who’s Irish Immigrant parents were claiming UK benefits, living in UK council houses and getting free dinners and god knows what else courtesy of the English tax payer. Freed from British rule …………. my arse they took everything going

[@Gary_OC]

@ You do know there are over 250,000 UK foreign citizens in the Republic of Ireland ? Most of them claim Irish pensions paid for by Irish tax payers. Bet you didn’t know that. Now see how many Irish benefit users are in the UK system as a percentage. The Irish paid there way anywhere they went by work and taxes in 95% of cases. Go and have a nap. We wish the UK never came near us. Can’t pick your neighbours unfortunately. Britain would have been the last place to pick.

[@brianredmond4919]

Eighty plus years of rule by the Catholic Church and cronyism government the freedom was so great tens of thousands left for the UK and USA. Not to mention the legacy of bitterness and division. Yet some morons still think it was a great idea.

[@mrfrisky6501]

Didn't the uK bail Ireland out a few years ago to stop them going bankrup? Don't the UK provide free RAF cover for Ireland (free of charge) so Ireland can operate commercial airports??

[@roryoneill9444]

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.

[@yermanoffthetelly]

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.

[@Lawrence4000-s3k]

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?

[@rua999rua999]

One garda.. two or more garda is gardai.. so where you say An Garda is not exactly correct fyi

[@valerieh84]

@@rua999rua999An Garda is short for An Garda Siochána. Our contributor’s use of the phrase is completely correct.

[@rua999rua999]

@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

[@johntheaccountant5594]

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.

[@Lawrence4000-s3k]

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]

@@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.

[@Lawrence4000-s3k]

@@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%.

[@firstlast-hj2sb]

Britain & Ireland, No part of Ireland is in Britain. NI is in the UK

[@jonsimmons4150]

Absolute tosh!!

[@davidmccabe4041]

Excellent summary of irelands economic progress, the good, bad and the ugly. ,My life parallels the story in that I qualified as a chartered accountant in Dublin in 1962, worked in Paris for 2 years, then as financial controller in a US owned multinational before joining the Investment bank of Ireland where I spent 30 very fulfilling years ending my career as a non exec director to companies setting up in the new IFSC. I am now aged 86 and look on proudly at what we have achieved as a small island off Europe. DAVID MCCABE

[@peteymax]

Interesting video, what it missed is that Irish companies now employ more people in the USA than American companies do in Ireland. The single biggest change in policy was the investment by Ireland in education since freedom from their colonialisers. It’s definitely not all roses for sure. But it’s way better than lifestyle in Britain, with so many British moving to Ireland at the moment (welcome btw).

[@kevincarroll6490]

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]

How could they not feel rich if they're not paying huge rent?

[@kevincarroll6490]

@@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

[@jonathanjonathan7386]

in ireland or uk?

[@sionnachog894]

Exactly, who has the money? Your daughter and mine certainly don't.

[@johndevoy5211]

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.

[@TomRichards-s9r]

The US has some great wealth but also has some appalling poverty.

[@Gav_Ireland]

Changing in Ireland aswell - we’re following the uk and us into the hell hole through our immigration

[@Fredmayve]

US life expectancy is 10 years less than Irish.

[@robertpirsig5011]

Is that really true? It's higher in the US if you are wealthy. Being born poor in the US is like a fly trap, very difficult to get out of. In Ireland and even the UK opportunities are their for those that come from working class areas.

[@dianamaioru497]

@@Gav_Ireland False.

[@John-e5g4d]

Must really hurt in England to see the paddies doing so well

[@ballysheil]

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.

[@Dan-yz3vd]

They don't really care about the irish either way

[@PJH13]

Not at all, most brits don't live in the 19th century and want our Irish neighbours to do well. Apart from anything, a more prosperous Ireland trades more with us and despite all the painful history our politicians work pretty well together behind closed doors

[@lapollock95]

Ireland is a complete and utter shambles literally not surprised yous aren't taxed for oxygen, when I go back to the UK I'm delighted I don't live in Ireland everything is x2-3 times more expensive the only thing Ireland has thats way better is the roads are much better but you pay such an outrageous amount for them I'll take the UK every single time 😂

[@lizdoyle7158]

Yet it was england who was the only one to help Ireland with cash first when we were broke in 2008

[@karenchristinewise7833]

My mother's friend sold her ex-council house for £5,000 (Irish pounds) in 1987. We thought she got an extremely good price. She moved to Spain to retire. My father's friend sold his ex-council house for £10,000 in 1990. He moved back to Canada with his Canadian wife. We were amazed that in 3 years or less that house prices doubled. The same types of houses peaked at €400,000 before the crash. These houses are selling now for €200,000 plus now.

[@morganmcmahon2]

A report issued in December 2024 puts average house prices at 14% higher than immediately prior to the crash.

[@piee683]

The difference between them is Ireland earned what they have whilst the uk just took what they have

[@william_marshal]

Bullshit, Ireland is getting richer because it's a tax haven for global companies. In other words Ireland is stealing other countries taxes !!!

[@Lawrence4000-s3k]

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.

[@danguee1]

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......

[@piee683]

Ireland still didn’t need to steal anything but unlike the uk

[@Choon-]

@@danguee1 I'm Irish and I don't think it's shameful at all. I think it's great actually

[@dooley-ch]

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!

[@jerryn9690]

I love Ireland ❤

[@damian1690]

People living in London doesn’t have it better than the one in Dublin…

[@robertwest8300]

Your videos are excellent and super informative. Thank you for taking the time to research and post your content. Merry Christmas. 👍

[@StakedWealth369]

Every country is richer than the UK.

[@Lawrence4000-s3k]

@@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.

[@william_marshal]

Yeah sure, I'm sure people from Chad, Laos, Surinam and Albania would agree with you ... Dope!!!

[@555frontier]

Especially Bangladesh or Syria.

[@lubumbashi6666]

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.

[@firstlast-hj2sb]

UK exports only 2 billion more than Ireland to the US, gap is closing by the day

[@Waferwafermagiccracker]

Ireland is definitely richer than the UK. Take out London and the UK is a garbage country

[@Oluinneachain]

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.

[@murpho999]

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.

[@Irishman0855]

@@Oluinneachainthat’s the goal alright a united ireland will be an economic powerhouse after some teething years

[@arnaudderette2926]

Perhaps Europe’s help for decades had something to do with Ireland’s growth, just like Poland nowadays

[@michellebermingham2350]

This is exactly why Ireland 🇮🇪 thrived

[@LL-vk9zc]

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.

[@_alienblood]

For the last 20 years Irelands been a net contributer spent more than it receives in funds from the EU

[@colmquinn7860]

EU levelling up on an international basis, the UK can't achieve same nationally

[@Ugaine-Mor]

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.

[@lewisg06]

The best days are yet to come for Ireland, however, it needs to protect itself from global security threats, with a more sophisticated military.

[@amblincork]

Ah stop being silly...

[@gingerssmelllikecabbageand8708]

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

[@dondomingo6578]

I’ve never heard anyone in Ireland’take the piss’ at the UK. Where do you get this stuff?

[@murpho999]

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.

[@LucasMoraes-fu4qm]

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]

260 billion in debt, how about start paying that shit off first ha

[@ontheslide2339]

...I think they're probably just going to spend it on new arrivals... like everybody else... 😂

[@gingerssmelllikecabbageand8708]

Ireland has started a sovereign wealth fund,thinks currently 12billion annually

[@roryoneill9444]

@@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???/

[@roryoneill9444]

@@ontheslide2339 No, spent it on a Children's hospital and a bike shed.

[@michaelcoyne3700]

I wonder what happened in 2015 that may have caused Ireland to outstrip UK in economic growth.

[@william_marshal]

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.

[@Top5Aircraft]

Apple domiciled their Intellectual Property in Ireland in 2015.

[@fje1948]

Thanks to the stupid people who voted for Brexit and then for Boris Johnson.

[@andrewtaylor6737]

Thank goodness we did, but all is well in the EU whilst their economies boom!😅😂

[@fishyq5077]

@@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.

[@andrewtaylor6737]

@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.

[@overman2306]

@@fishyq5077 Ireland is booming because of the corporation tax intake. Brexit is bad for Ireland with import charges.

[@chilloutcentral2097]

@@andrewtaylor6737yeah Spain, Poland, Italy, Ireland etc. they’re not doing too badly. The UK is losing roughly £40 billion a year due to Brexit. As for the Germans, they problems have little to with the European union. Check your facts. Brexit has delivered nothing positive and only problems, which is why it will be eventually reversed.

[@JonnM]

It’s absolutely correct 80% of corporation tax is paid by, predominantly US, multinational companies. However, another important stat. is that 52% of all income tax is paid by employees of US MNCs. Of course, low tax is not the only reason the MNCs often base their European HQs in Ireland. There’s a highly educated workforce, the population is relatively young and, of course, Ireland remains an enthusiastic member of the EU.

[@Karl_with_a_K]

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 😎👍

[@A-se2ur]

Rolling in it. Next we will be able to afford houses at this rate! Or a bit too far maybe…

[@williampatrickfagan7590]

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.

[@williampatrickfagan7590]

​@@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.

[@ChopsUm]

@@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.

[@williampatrickfagan7590]

@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

[@johnrobdoyle]

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.

[@eoinoconnell185]

Apparently, the ''UK minus London'' economy has a lower GDP per Capita than Alabama. The strong dollar/weak sterling undoubtedly contributes to this statistic, but it's still horrific. What the UK has is historical wealth. Unfortunately, it's trading too much on it's past, with concerning current and futures prospects to rely on.

[@trevorallen838]

If this is a comparison then how about the dark money in London for 100years including Russian African and Arab tax evasion

[@luckytalkie]

They're mostly not included in statistics, that's why London is famous for its services sector, while the multinational tax money is officially pouring into the Irish budget.

[@rod9829]

Best way of looking at this is PPP interacting with household disposable income

[@FennessyMusic]

Has anyone benefited from Brexit and if so in what ways? Not having a go just genuinely keen to hear what peoples thoughts are!

[@Top5Aircraft]

Y Two years ago Ireland single handedly prevented the EU from sliding into a recession. Impressive for a county who population amounts to just one percent of the total EU population.

[@sionnachog894]

How did we do that?

[@mrfrisky6501]

And a few years earlier the UK had to bail out Ireland to stop them going bankrup....

[@fionafromireland1054]

​@@mrfrisky6501 In the 80s. Britain was bailed out by IMF, Oh dear, you didn't see that coming ... 😅😅😅

[@johnmurphy9304]

Our politicians has left us with debts of 40k per person. Scandalous they got away with it…..we are in a very bad place…

[@peterroycroft]

Irish person here. Gosh, where to start! Huge fan of Economics Help. Very true explanations of how the economics world works, especially for the UK I feel the start of the video glosses over too quickly what the "newly independent Republic of Ireland" did. What it did was screw up massively with a protectionist economic policy that was outdated after World War II, and meant that Ireland missed out on the European economic boom caused by the need to rebuild European economies, and the real benefits of the Marshall plan. We preferred to live in our naïve nationalistic bubble. It was only in the 1960s when a reformed politician called Sean Lemass (reformed because previously protectionist) decided to open up the economy and that resulted in a pretty immediate economic upturn. Then we entered the Keynesianism economic decline (Keynes in no way to blame!) that all countries did in the 1970s but from a weaker position having been poor for many decades. However in that period between opening up the economy and the oil crises of the 70s, the Irish state had finally offered free secondary education to all (again one visionary and radical minister did that) and by doing that allowed some of its people to prosper (many abroad), if not the whole country. The reason Ireland had rapid economic growth in the 1990s is that the government, leaders of business and trade unions reached an agreement in the late 19080s. The unions agreed they would accept less than inflation rates of wage growth (and inflation was high) and the government agreed to lower excessive taxes of PAYE workers once economic growth picked up again (Pay As You Earn workers - people who have a job where their employer deducts their taxes and pays it to the state). Taxes of PAYE workers back then quite quickly reached 65% and sparked huge protest marches (we learned much later that many of the business class had parked their money in tax havens). This agreement had a rapid effect on the Irish economy. Within weeks of the agreement the number of strike days collapsed and every economic indicator turned positive. It took several years for employment to grow substantially. Taxes of ordinary workers did come down. I left Ireland in 1987 as a newly graduated Civil Engineer. The official rate of unemployment at the time was 17%, but about 2% of the population was leaving each year at that time, so this figure was misleading. By the early 1990s employment was picking up rapidly, and as the video says, Ireland had a highly educated but low cost economy. US companies started to invest. Once the Single European Act came into being, allowing multinationals to base themselves in an EU country and have open access to the whole EU market, Ireland thrived. In 1997 a Labour Party finance minister set the corporate tax rate for all companies at 12.5%. It had been, in theory, 10% for multinational companies and much higher for native Irish businesses. The EU insisted on a change to harmonisation (quite correctly). The Irish economy grew at incredible rates in the 1990s and up until 9-11 in 2001. If memory serves me correctly it grew at 11% in the year 2000 with 1.5% inflation. Of course this was voodoo economics as many of the profits were being exported by the multinational companies. After 9-11 the economy recovered to high growth rates of 6+ % but these were based mostly on a property bubble, which eventually bankrupted the country in 2010, requiring the intervention of the IMF and ECB. To my surprise the IMF was far fairer than the ECB (under Jean-Claude Trichet). The state took its medicine, absorbed debts it should not have had to absorb (junior bank bond holders - thanks to Trichet) and emerged again an open market ready for investment. Economic growth was rapid again after 2016. Has Ireland become a tax haven/ tax launderer for multinationals? Probably yes. But it should be said that the country from where most of these companies come (the US) didn't seem capable of enforcing a regime on its own corporations. Ireland today on paper is rich, but as the video says, we suffer huge problems of unaffordable housing and high prices. Yes the exchequer is in rude good health. We face many problems ahead. However, countries like France who consistently claim that Ireland offers preferential rates to big pharma and tax companies are quite coy about the deals they do under their headline rates of tax. Sadly large corporations now have more power than many nations had when I was a child (I am 59). One good thing the Irish state managed to do back in the 1960s was set up a body called the IDA - the Industrial Development Authority. This set about encouraging foreign businesses to set up in Ireland. It attempted to place industrial development on a regional basis but it hasn't been entirely successful in this - companies like to set up where there is a base of people skilled in their business. So pharma companies have grouped around Cork (not exclusively of course) and tech businesses around Dublin (again, not exclusively). In comparison to the UK Margaret Thatcher simply destroyed an admittedly weak and uncompetitive industrial base, but set up little state support to help UK businesses compete in the modern world. Many parts of the UK have never recovered from that. I could go an at length, but I should probably stop now!

[@basichistory]

Ireland in the 1980's had massive unemployment

[@patrickball2493]

And no migrant problem ! .

[@Kitiwake]

Talks about Ireland. Shows Dublin.

[@sharontyler9751]

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.

[@davidmccabe4041]

To a US investor another attraction offerred by Ireland was a legal and corporate tax system which they could understand compared with the Euripean countries which practised *napoleanic law* ....much more complex. David mccabe dublin

[@amblincork]

Being an english speaking country with a realtively young population and a good education system also helped

[@nigelwatson2750]

The UK has been exporting taxpayers and importing benefit claimants.

[@defragsbin]

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.

[@Duncan-Bizkitts]

So is every other economy other than the USA

[@ebutuoyYT]

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.

[@genghisthegreat2034]

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.

[@fishyq5077]

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.

[@valerieh84]

@@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.

[@genghisthegreat2034]

@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.

[@PanglossDr]

Wow, what a weird take on the UK.

[@economicshelp]

Many have commented Ireland's corporation tax is higher than 3%, but this misses the point. You can have an official rate of taxation, and then the rate companies actually pay (ie. with tax breaks et.c). When Apple testified to congress, they said they were paying an effective rate of 3%

[@jimbrown5552]

This is why I moved to Ireland

[@KevinLyda]

Note that GDP numbers for the UK also have distortions from its financial sector.

[@sionnachog894]

I live in Dublin. It is true don't have the apparent poverty you see in some northern UK towns like Grimsby ,for example. But many of us have 37 year olds living with us because they can't buy or rent at 2k/month. The cost of living and building is extremely high. Trump could end it all with the stroke of a pen and probably will. Plus we have to cow tow to the US, let their troops land at Shannon and turn a blind eye to their support for genocide. The Brits kept us down, that is for sure, pushed us off our land and starved us during the famine. We have done well since independence but there are big problems with our economy and bigger ones to come.

[@fionafromireland1054]

Your 37 year old, should be asked to provide details of where he has checked out housing for purchase. He needs to think about moving out of Dublin and commuting into work like others have to do. Think about buying a one bedroom apartment first to get on the property ladder.

[@sionnachog894]

@@fionafromireland1054 Funny you should say that, because thats exactly what my son did, my daughter is the 37 year old and moving out of Dublin or rising to even a one bedroom apartment isn't an option for her, I wish it was that easy, thanks for the advice though.

[@LeonVEKH]

Don't live in the city, it's pretty simple. People wanting to live the city life yet not pay for the upward costly expenses and thus the consequences of such which ecacerbate each other can't complain. If people moved out further afield rents would drop as landlords would have to adapt due to loss in revenue due to exodus, it is a vicious cycle that needs to be broken by government by putting in place rent controls and hard ones that can't be broken or reset by the landlord just evicting or giving notice to quit and resetting their legal obligations and allowing them to up the rents again. I feel for you and your daughter, yet people voting for the same two fucking parties expecting something miraculously different to occur is insane, I am not saying you did yet if you did...well you have but yourself to blame. End of. May the next five years be kind to you and your kin.

[@robertbennett9949]

Being a member of both the EU and the Euro Zone and English speaking, gives Ireland a smooth financial and cultural environment for the US to transact bussiness. It is not just about tax.

[@gernolan6932]

Brits will never admit that people they once looked down on are doing far better than they are .

[@davidmccabe4041]

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.

[@lisax23]

I love Ireland and its people

[@fern8580]

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,*

[@thenon-stopdad601]

I learn so much from your videos. Thank you.

[@johnoconnell2446]

Many of our multinational companies are IRISH. And employ 140 thousand in America. Also, the Irish corporation tax is 15 per cent, lower in REAL terms to many EU countries, if you discount sweetheart deals by the competition. Massive construction of houses underway in Ireland on a ten year plan. New tenants entitled to 70 thousand free government assistance

[@vincentmcdermott3412]

Corporate tax rate was 12.5% 3% is after various deductions such as R&D allowed in most other countries which also greatly reduces their effective tax rate.

[@liamogorman3312]

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.

[@ironicturtle]

did you watch the video? the economy is not horrible. its better than most. better chance of thriving there than most countries

[@liamogorman3312]

@ironicturtle did you watch the video? Our economy isn't good compared to other European countries. We rank 32 out of 34 for wage inequality. Our first homeowner age is gone past 36 years old now. More than 40% of people between 18-34 are living at home and cannot afford to move out. Real wages have been in decline for the past 15 years. When I say our economy is terrible I am comparing it to our past 50 years and to other European countries. I am not comparing it to Somalia.

[@ironicturtle]

@@liamogorman3312 there's massive problems with ireland, 100%, what you're saying is true. But when I left 11 years ago it was on its knees, thinking of moving back now. The housing crisis is diabolical. inequality is very bad. But we also have a cash rich government shortly after one of the worst crashes in the EU. Many of the issues you describe are everywhere. I just thought your "tax haven for multinationals" was missing the point pf the video. And I'm not suggesting we compare it to a developing nation, but I live in London and we have all the problems you describe and many many more with no hope, vision or money to get out of it. ALso teh cost of living crisis is very similar in the UK, worsened by Brexit.

[@liamogorman3312]

@ironicturtle we are a tax haven for multinationals that's an indisputable fact. Obviously that isn't an inherently bad thing as if we had a competent government the money could be put towards our infrastructure and natural resources. Which hasn't been done, in fact our government has sold the majority of outlr resources including our new green energy resources which are owned mainly by the Netherlands. The situation across Europe isn't amazing however in ireland it is particularly bad. We had been ranked number 2 in the world for quality of life pre 2020 we now rank number 29 (below the UK by 5 places). Dublin is ranked 43 in terms of cities.This quality of life data isn't 100% accurate as it includes extremely well off people who skew the data. Ireland is 32 out of 34 with wage disparity so in real terms we are probably between 30-50 in quality of life. Again we aren't the worst in the world but we aren't doing well and every year we drop places in all of these studies, meaning we are progressively getting worse not better off here. If you look at the real wages decline chart by the CSO, you will see that wages have been on the decline over the past decades and right now the majority of people do not earn enough to live in ireland. When comparing ireland to other European countries we are at the bottom of every chart. A large proportion of foreigners have returned to their homes and a massive amount of Irish people have moved to England, Canada and Australia in hopes of a better life. Canada and Australia do have high cost of living but their wages compared to that is much much better. England has lower wages but the lower cost of living makes it so you can live more comfortably there than here.

[@petergibson2318]

The “Global Peace Index” recently ranked Ireland as the 2nd most peaceful country in the world for 2024. Iceland took the No.1 spot. The previous year Ireland was 3rd, Denmark was 2nd and Iceland 1st. (Iceland always wins!)

[@thetoonarmyfaithful439]

According to Ted on KZbin it's the goodest country in the world.

[@emmetoriordan6709]

Interesting video. Well done! What do you think about BER-2 the housing ratings systems for Irish property? You see I have a suspicion that it should be possible to introduce a quality metric for houses in Ireland or Britain, according to the amount of space, the quality of aspects of the home, and the proximity to facilities. My theory - is that... if someone could invent a system to segment 3 and 4 bed semis by seperating them out using a quality metric, you would unleash a ton of properties that are currently over valued.. that this system could identify a lower quality home. For example - we never had townhouses, until property developers with UK experience of London property, introduced them here... where they were not needed. There was enough space.. but developers realised they could cut off the front garden to use as a driveway, and halve the size of the back garden, make the houses slightly bigger, almost touching, but technically seperate, then they could demand "detached 4 and 5 bed homes in city area with front and back gardens in good locations" - and sell those homes way over-priced.. What they were doing was removing some quality aspects from the equation. Just wondering if you think it would be feasible to introduce a metric like that, and if so, then what specific ideas you might consider..

[@johnduggan8656]

This gives a limited explanation of Ireland’s tax advantage. Historically, a company registered in Ireland did not have to be tax resident in any country. Now a company is assumed to be tax resident in Ireland unless tax resident elsewhere. The amount of capital that is now tied up in intellectual property is very often not appreciated in these discussions. The major part of the value in an iPhone is the software that it uses. Without it it is useless. In the case of Apple that software is owned by an Irish tax resident company which charges the manufacturing or sales company for using that software. Because of the value of the IP the bulk of the profit is taxed in Ireland. People, particularly on the left, still have a 19th c. view of manufacturing where the bulk of the value added is in physical things. That is no longer the case.

[@fleecejohnsonn]

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!!

[@EamonMcAuliffe]

The newly formed Irish state did two things: they harnessed the power of the country's largest river for energy production, a legacy that continues to this day. And 2nd was too prioritised education as a cornerstone of the state’s foundation. Unfortunately, we now seem to be regressing in both areas-lowering the standards of education, increasing the costs and limiting our energy potential by refusing to explore advanced technologies and skipping 50yrs tech like nuclear power because of misunderstanding and a lack rational understanding.

[@GarretMr]

Brexit....Brexit.......Brexit......Brexit.....Brexit....Brexit

[@garyb455]

Lower taxes and the economy takes off, who would of thought ?

[@roryoneill9444]

Well.... definitely not Trump...

[@overman2306]

@@roryoneill9444 Trump wants to lower US corporation tax to 15%

[@IcarianX]

Without taxes, how do states pay for healthcare, schools, roads, hospitals, public transport and infrastructure?

[@overman2306]

@@IcarianX He didn't say no taxes. He said lower taxes. In Ireland, the corporation tax was lowered which attracted foreign direct investment and in turn increased tax revenue.

[@IcarianX]

@@overman2306 That's a race to the bottom though. Many of these companies pay almost no tax and don't actually create anything. On paper, Apple's profits are a huge benefit to the Irish economy, in reality, very little of it actually enters the Irish economy

[@unexpectedly1468]

Thanks, great video as always.

[@gerrygorman157]

Top notch, clear and concise. Ireland's been on a crest of a wave but risk falling off that soon enough. We've been world beaters in Europe much to the chagrin of out neighbours including the UK. It will be interesting to see how things fare with Trump in power. I do believe longterm, US corporates have too much invested in Ireland to think about an exit. That said, the housing crisis, healthcare and cost of living need to be addressed. All things that can be addressed with good long term policies and planning,

[@mbolton]

Simple ireland don't have the British class system running the country

[@fionafromireland1054]

The simple British people are going to have very basic times ahead, thanks to BoJo the clown 🤡 Johnson.

[@gingerandbroke1402]

Just here to see how many brits will cry about us being a "tax heaven" while ignoring that London is also a tax heaven 😂

[@jonathanjonathan7386]

how is london a tax "heaven" ?

[@LeonVEKH]

Not just London yet Jersey and Guernsey off their coast and their other 50% of the world's actual tax havens that the UK has

[@annbritton1714]

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

[@sfactory8253]

Everybody is by the look of things .

[@eoinoconnell185]

Regarding housing, if you place an advertisement for a rental in Dublin, out of the social welfare applicants, over 80% are non-Irish. Instead of a smart immigration policy, the government is importing people who are an immediate and permanent burden on the state/taxpayer. It's literally importing homelessness. Utterly crazy. The government then makes it far, far worse. Social Welfare pays €1,850 monthly rental payment for a single parent with child, going to €2,250 for a couple with 2 children. This forms the floor on the market. So normal, working people have to pay a minimum of €1,850 to compete. That's €22,200 annually after-tax just on rent (and not in a good area). The Irish government is the biggest cause of tight housing supply (difficult planning legislation), excess demand (importing homelessness) & causing rents to skyrocket & remain high (social welfare payments beyond what working people can afford). The government is not the only cause of the housing crisis, but it is the largest component by far.

[@LeonVEKH]

You are lying and conflating things to suit your backward narrative. You should be ashamed.

[@americanexpat8792]

70% of Irish people between the ages of 18-30 prefer to leave the country due to the SEVERE lack of housing and affordability. That about sums it up. They don’t feel rich. Rather, they feel like it’s a disaster. The US Congress, in one piece of legislation, could transform Ireland’s fate by severely penalizing profits earned in Ireland to point of forcing those companies back to the US where they belong. Ireland didn’t develop that technology. Americans did. Then, Ireland wouldn’t have a housing crisis, but rather an unemployment issue. In essence, they are living off the Americans. If Ireland were smart, they would learn the real lessons from America and develop a true entrepreneurial economy.

[@JMc-ki7kq]

There is a lot of wealth here in rural Northern Ireland, you just have to look at the size of the houses. You can't judge the whole of UK by English urban poverty.

[@damian1690]

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) :/

[@dusty38uk]

People forget that they needed to borrow heavily when the 2008 crash came

[@sionnachog894]

Correct, needed to borrow billions to pay for the effing banks who are back coining it again and paying their CEO's sickening sums.

[@harrisstrickland2352]

Please make a video on the UN global tax convention.

[@magicmurphy]

you'd be lucky to find a place for £2100 a month at the moment. I just had to sign a lease for £2600 per month for the shittest place i've ever lived in

[@sionnachog894]

Don't believe all you hear about how well Ireland is doing, most of it is not true or true for a very few.

[@JohnMurphy-mx7pd]

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 .

[@stiofain88]

Yeah but the UK counterparts are generally living on the breadline and can't afford to live on their own and tend to put themselves into debt to do so. Irish people don't tend to do debt as we haven't the confidence that we'd be able to pay it back.

[@sionnachog894]

Exactly, the largess hasn't filtered down.

[@garrycurrid3297]

Thank you for this, very interesting.

[@BuyXRP895]

As an irish national living in ireland. This is unfortunately a red herring. Ireland has major socio- economic issues. The housing market is destroyed fueled mainly by the massive importation legal and illegal immigration as well as major overregulation to develop new housing by private developers. Crime in Ireland is on the major up in the past 10 years and unfortunately this stems largely due to the influx of illegal immigrants. The health system is practically destroyed - most irish doctors emigrate immediately after qualifying- vast mismanagement and corrupt procurement also lead to more disaster (see national childrens hospital for example). School places are impossible to come by (largely fueled by issues listed above). Ireland also has aligned itself with some of the wokest policies and outright stupid ideologies that is no doubt going to hurt it in the long run. There is only a left wing in Ireland- anything to the right of Engels is seen as Hitler.

[@andymurph3394]

💯👍

[@MJB0110]

I’d be interested on your economic views on UAE and Qatar where many wealthy Brits seem to be heading to? Thx for the always excellent, insightful videos and teaching.

[@PaulWhite-br9wi]

The housing market isn't broken, it's exactly the way the rich want it.

[@thetoonarmyfaithful439]

Ireland is far richer than the UK. If you've ever been to Ireland, all you have to do is look at the houses there. Putting it mildly, the houses are far bigger than US wealthy properties and they are huge compared to UK properties. The wealth in Ireland now is incredible compared to its poor neighbour the UK.

[@downburst1]

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.

[@Dreyno]

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.

[@Lawrence4000-s3k]

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.

[@downburst1]

@ 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.

[@Kitiwake]

​​@@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

[@Lawrence4000-s3k]

@@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.

[@mikeandtanjagoodall4981]

So too many houses is bad, too few also bad ... WTF

[@ulfosterberg9116]

He says uk house bubble only burst a bit? Then the future bubble is bigger...

[@andrewtaylor6737]

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!😂