The document discusses key elements needed for Ireland to regain competitiveness, including reducing costs of doing business, maintaining macroeconomic stability and public investment, developing skills and the enterprise base, and improving access to finance. It analyzes specific areas within each element that need to be addressed, such as labor costs, energy costs, property costs, broadening the tax base, increasing public investment, developing skills training programs, supporting entrepreneurship, and improving access to bank and non-bank financing. Regaining competitiveness is vital for Ireland's economic growth and job creation.
This document outlines Fine Gael's plan to rebuild the Irish economy and create jobs between 2011-2016. The plan aims to generate 100,000 new jobs over 5 years by prioritizing jobs and competitiveness. Key elements of the plan include protecting investment and making tax rates competitive; helping Irish businesses grow their markets through new programs; reforming welfare to link it to re-entry to work; reducing costs, red tape, and bad regulations; and establishing a new department focused on jobs and economic planning. The overarching goal is to restore confidence and growth in the Irish economy through these various initiatives.
The Ireland that works campaign maps out the key priorities for business in the next phase of the recovery and will form a central part of Ibec's activities to influence and shape the national debate.
With the Troika gone, Ireland has important decisions to make on how to build on the economic progress already made, tackle unemployment and drive growth across the economy. We need to get these right.
At Ibec we plan to lead the debate. We have identified five pressing issues on the national agenda that will have a major impact on Ireland’s success into the future:
1. We need to reduce the tax burden: Ireland is out of line internationally and our income tax rates, in particular, are too high. Irish consumers deserve a break.
2. We need better government: Poorly designed policy, legislation and regulation add to the cost of doing business and are an obstacle to growth and job creation.
3. We need to invest in the future: To meet our future economic needs, we need to spend much more on infrastructure projects and skills and education.
4. We need to extend Ireland’s global reach: International debates on tax and EU reform could have major implications for Ireland. We need to influence and shape the agenda.
5. We need to promote entrepreneurship: Business need to have access to effective enterprise supports, credit and export markets. Risk needs to be rewarded.
We hope the campaign priorities are relevant, challenging and resonant with your own ambitions for your business and for Ireland. Ibec will be rolling out more elements of the campaign over the coming weeks and months, and we'll keep you updated on our blog.
Download, share or embed this campaign brochure.
You can also join the conversation on twitter, #irelandworks @ibec_irl or on the Ibec Linkedin group.
The document discusses key concepts about taxation and government funding. It begins by explaining that the government budget constraint means spending and revenues must be equal. It then outlines the learning objectives which include distinguishing average and marginal tax rates, explaining the U.S. income tax system, and how tax rates impact tax revenues. The chapter also discusses the major taxes collected by federal, state and local governments and how taxes affect markets.
SB Partners: 2019 Federal and Provincial Budget Overview: Silicon Halton Meet...Lisa Denis
From a presentation by Greg Clarke from SB Partners on the personal and business impacts of the most recent Federal and Ontario Provincial budgets on May 14, 2019
This document discusses local content policies and rules governing the oil and gas industry in Tanzania. It begins by defining local content and outlining key principles like competitiveness and protectionism. It then addresses challenges like lack of skills and infrastructure. The document examines Tanzania's current policy focus on increasing employment and reducing costs. It also reviews trade agreements that can limit local content discretion and strategies like developing industrial clusters to promote local content. Throughout, it references Tanzania's laws, regulations and policies that aim to maximize local participation in the oil and gas sector.
The document discusses unemployment, inflation, and deflation. It defines unemployment and outlines how it is calculated, describing the different types of unemployment like frictional, structural, cyclical, and seasonal. It also discusses how extending unemployment benefits may increase unemployment levels. The document then defines inflation and deflation, and explains how price indexes are used to measure changes in prices. It outlines the chapter's learning objectives which include explaining how unemployment and inflation are calculated and defined.
The document summarizes Thailand's new investment promotion policy that will take effect in January 2015. The key points are:
- The policy aims to promote investment in R&D, innovation, value-added goods and knowledge-based sectors to help Thailand transition to a knowledge economy and overcome the middle-income trap.
- Major incentives include corporate income tax exemptions of up to 8 years for certain promoted activities, exemption of import duties on machinery and raw materials, and other non-tax incentives.
- Promoted activities are classified into groups that qualify for different levels of tax and non-tax incentives, with the most beneficial incentives going to activities that enhance national competitiveness.
This document discusses measuring a country's economic performance using gross domestic product (GDP). It begins by introducing GDP and how it is used to make international comparisons of economic size. It then outlines how GDP is calculated using both the expenditure and income approaches. Key points include defining GDP as the total market value of final goods and services produced domestically in a year, and explaining how GDP is adjusted for inflation to derive real GDP. The document also notes limitations of GDP as a measure of overall welfare.
This document outlines Fine Gael's plan to rebuild the Irish economy and create jobs between 2011-2016. The plan aims to generate 100,000 new jobs over 5 years by prioritizing jobs and competitiveness. Key elements of the plan include protecting investment and making tax rates competitive; helping Irish businesses grow their markets through new programs; reforming welfare to link it to re-entry to work; reducing costs, red tape, and bad regulations; and establishing a new department focused on jobs and economic planning. The overarching goal is to restore confidence and growth in the Irish economy through these various initiatives.
The Ireland that works campaign maps out the key priorities for business in the next phase of the recovery and will form a central part of Ibec's activities to influence and shape the national debate.
With the Troika gone, Ireland has important decisions to make on how to build on the economic progress already made, tackle unemployment and drive growth across the economy. We need to get these right.
At Ibec we plan to lead the debate. We have identified five pressing issues on the national agenda that will have a major impact on Ireland’s success into the future:
1. We need to reduce the tax burden: Ireland is out of line internationally and our income tax rates, in particular, are too high. Irish consumers deserve a break.
2. We need better government: Poorly designed policy, legislation and regulation add to the cost of doing business and are an obstacle to growth and job creation.
3. We need to invest in the future: To meet our future economic needs, we need to spend much more on infrastructure projects and skills and education.
4. We need to extend Ireland’s global reach: International debates on tax and EU reform could have major implications for Ireland. We need to influence and shape the agenda.
5. We need to promote entrepreneurship: Business need to have access to effective enterprise supports, credit and export markets. Risk needs to be rewarded.
We hope the campaign priorities are relevant, challenging and resonant with your own ambitions for your business and for Ireland. Ibec will be rolling out more elements of the campaign over the coming weeks and months, and we'll keep you updated on our blog.
Download, share or embed this campaign brochure.
You can also join the conversation on twitter, #irelandworks @ibec_irl or on the Ibec Linkedin group.
The document discusses key concepts about taxation and government funding. It begins by explaining that the government budget constraint means spending and revenues must be equal. It then outlines the learning objectives which include distinguishing average and marginal tax rates, explaining the U.S. income tax system, and how tax rates impact tax revenues. The chapter also discusses the major taxes collected by federal, state and local governments and how taxes affect markets.
SB Partners: 2019 Federal and Provincial Budget Overview: Silicon Halton Meet...Lisa Denis
From a presentation by Greg Clarke from SB Partners on the personal and business impacts of the most recent Federal and Ontario Provincial budgets on May 14, 2019
This document discusses local content policies and rules governing the oil and gas industry in Tanzania. It begins by defining local content and outlining key principles like competitiveness and protectionism. It then addresses challenges like lack of skills and infrastructure. The document examines Tanzania's current policy focus on increasing employment and reducing costs. It also reviews trade agreements that can limit local content discretion and strategies like developing industrial clusters to promote local content. Throughout, it references Tanzania's laws, regulations and policies that aim to maximize local participation in the oil and gas sector.
The document discusses unemployment, inflation, and deflation. It defines unemployment and outlines how it is calculated, describing the different types of unemployment like frictional, structural, cyclical, and seasonal. It also discusses how extending unemployment benefits may increase unemployment levels. The document then defines inflation and deflation, and explains how price indexes are used to measure changes in prices. It outlines the chapter's learning objectives which include explaining how unemployment and inflation are calculated and defined.
The document summarizes Thailand's new investment promotion policy that will take effect in January 2015. The key points are:
- The policy aims to promote investment in R&D, innovation, value-added goods and knowledge-based sectors to help Thailand transition to a knowledge economy and overcome the middle-income trap.
- Major incentives include corporate income tax exemptions of up to 8 years for certain promoted activities, exemption of import duties on machinery and raw materials, and other non-tax incentives.
- Promoted activities are classified into groups that qualify for different levels of tax and non-tax incentives, with the most beneficial incentives going to activities that enhance national competitiveness.
This document discusses measuring a country's economic performance using gross domestic product (GDP). It begins by introducing GDP and how it is used to make international comparisons of economic size. It then outlines how GDP is calculated using both the expenditure and income approaches. Key points include defining GDP as the total market value of final goods and services produced domestically in a year, and explaining how GDP is adjusted for inflation to derive real GDP. The document also notes limitations of GDP as a measure of overall welfare.
National economic survey 2019 20 series volume 1 chapter 3 - pro-business ver...DVSResearchFoundatio
This document discusses the differences between pro-business and pro-crony policies in India. It analyzes stock market and economic trends before and after liberalization in 1991 to show how pro-business reforms unleashed creative destruction and increased competition. In contrast, pro-crony policies that favor connected firms can undermine efficiency and wealth creation by inhibiting competition. Related party transactions, wilful defaults, and discretionary allocation of natural resources are examined as examples of how cronyism can distort the economy compared to pro-competitive business environments.
an architecture whose boundaries are not geographical but theological. That was produced in many different geographic regions whose diverse cultures were unified through the religion of Islam.
Certain architectural features have become fixed and eternal. In this modern world, they help us find our architectural roots and remain true to our identity. Almost every architectural structure addresses, in a direct sense, cultural identity and philosophy within a physical context.
If we want to understand, appreciate, and evaluate the architectural quality of a building, we need to develop a sense of dimension, topography, climate, material, structure, and proportion, and of the surrounding physical environment — both natural and human-made. This sense goes far beyond the building’s ability to serve utilitarian needs.
Pursuing any development or neighborhood plan today involves working with a myriad of actors beyond professional collaborators during planning and design phases. These include direct abutters, surrounding neighbors, elected officials, public agencies, opponents (often), investors, financial institutions, and regulators, all billed as “stakeholders.” Navigating the shoals created by cadres of stakeholders is perhaps the greatest challenge to pursuing sophisticated
ideas about and goals for urban-ism. Consensus around goals that aren’t very ambitious is, unfortunately, common.
However, rather than-wallow in despair about the unpredictable nature of decentralized processes, urban designers must learn to be more effective collaborators,willing participants in true interdisciplinary endeavors, and advocates for ideas not always their own, ideas that have the potential to rally others around higher expectations, not expedient solutions.
The document discusses the privatization of Royal Mail in the UK and the failure of privatizing sewerage services in Malaysia. It provides background on Royal Mail, the reasons for its privatization, and the process undertaken. It also discusses controversies around the privatization and outcomes post-privatization. Regarding sewerage services in Malaysia, the document outlines how privatization led to public outcry over increased charges and a lack of improvements, resulting in the government de-privatizing the services.
The document provides an overview of Chapter 12 from an economics textbook. It discusses key concepts related to consumption, investment, and how changes in these impact real GDP based on Keynesian economic models. Specifically, it covers determinants of consumption and saving behaviors, how planned investment is determined, and how equilibrium real GDP is established through the balancing of total planned expenditures and output. The chapter outline and learning objectives are also summarized.
This final project describes on how India's role as a developing nation in the Global Value Chain (GVCs) and how lead firms & Govt. policies can change the dynamics of GVCs in India by improving upon certain core ares in terms of polices and regulations to become an integral part and active player in the GVC to achieve its goal reaching 5 trillion economy by 2024.
The document discusses what firms need from governments to compete with rivals. It lists high savings, low interest rates for investment, strong property rights, good governance, low inflation, a rapidly expanding domestic market, and a technologically skilled workforce. It provides examples of how governments can promote high savings through subsidies, tax concessions, and stock purchases. It also explains how low interest rates can benefit eco-friendly firms and economic growth. The role of government is to indirectly support industries through standards while facilitating innovation.
Need for privatisation of public sector undertakingsNikhil Das
The document discusses public sector enterprises (PSEs) in India. It notes that while there were only 5 PSEs with Rs. 29 crore investment at the time of the First Five Year Plan, by 2011 there were 248 PSEs with Rs. 6,66,848 crore investment. The document provides statistics on the growth and performance of PSEs in recent years, including increased turnover, foreign exchange earnings, and aggregate profits of profitable PSEs. It also lists some of the largest profitable and loss-making PSEs.
Supply-side policies aim to increase potential economic growth through microeconomic reforms that improve market efficiency. Examples discussed include privatizing industries like Royal Mail; reducing business regulations; lowering taxes on individuals and corporations; welfare reforms to incentivize work; education reforms; increasing wages; changing migration policies; investing in infrastructure for transport, energy, and housing; and establishing regional enterprise zones with tax breaks.
FDI refers to foreign direct investment in a country. There are several types of FDI. India is attractive for FDI due to its large market, expectations of further economic liberalization, and improvements in domestic institutions. Key sectors that received FDI in India from April 2012-2013 included services, pharmaceuticals, construction, and automobiles. While FDI provides several advantages like job creation and access to global markets, it also poses some disadvantages such as crowding out of local industries. The document discusses FDI in various sectors like retail, insurance, aviation and others that are allowed and prohibited for FDI in India. It outlines the benefits and concerns of FDI in the retail sector. Overall, the team's view is
The document discusses upcoming changes to the tax treatment of termination payments in the UK. Specifically:
1) From April 2018, payments in lieu of notice (PILONs) will be treated as earnings rather than termination payments, making them subject to income tax and national insurance contributions.
2) The £30,000 income tax exemption for termination payments will remain, as will the unlimited NICs exemption for certain termination-related payments like redundancy. However, PILONs and payments over £30,000 will be subject to employer NICs.
3) Changes to make employers liable for Class 1A NICs on termination payments over £30,000 were delayed by one year and will now take
Focus on fiscal policy – balanced budget fiscal expansiontutor2u
The document discusses the concept of a "balanced budget fiscal expansion" which aims to stimulate economic growth while maintaining a balanced budget. It involves cutting some spending, like public employee wages, and using the savings to increase other spending, like on infrastructure, that is expected to have a higher fiscal multiplier effect. Several factors can affect the size of the fiscal multiplier, including the type of spending/tax change, who benefits, private sector expectations and credit availability, and responses from monetary policy and other countries. Examples given of policies using this concept include bringing forward tax increases to fund temporary infrastructure spending or cutting some spending to increase capital investment.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael forums across Ireland. The top issues discussed were high labor costs, including the minimum wage and social partnership agreements, as well as high commercial rates. Business leaders also expressed concerns about the lack of credit for small businesses, public sector tendering processes that exclude small companies, redundant regulation, poor quality graduates, lack of political leadership, high commercial rents, inadequate infrastructure, and high energy costs. Some also noted that social welfare payments were too high and disincentivized full employment.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael business forums across Ireland. The business leaders' top concerns included high labor costs, taxes, and commercial rents. They called for tax relief for businesses, increased access to credit, reductions in red tape and government charges. The document also outlines Fine Gael's economic plans to address these issues through tax cuts, establishing a national recovery bank, reducing regulations and reforming public tendering processes to better support small businesses.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders from across Ireland during meetings with Fine Gael's economic team. The top issues discussed were high labor costs, including concerns about the minimum wage, social partnership agreements, and lack of competitiveness. Other concerns included high commercial rates, lack of access to credit, barriers to public sector contracts for small businesses, excessive red tape and regulation, poor quality graduates, lack of political leadership, high commercial rents, inadequate infrastructure, high energy costs, and disincentives caused by social welfare payments. Fine Gael committed to policies to address these issues and promote job creation and business growth in Ireland.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael business forums across Ireland. The business leaders' top concerns included high labor costs, taxes, and commercial rents. They called for tax relief for businesses, increased access to credit, reductions in red tape and government charges. The document also outlines Fine Gael's economic plans to address these issues through tax cuts, establishing a national recovery bank, reducing regulations and reforming public tendering processes to better support small businesses.
This document presents a fantasy budget proposal from a student team at Galway-Mayo Institute of Technology. It proposes several reforms to encourage growth and stability, including regulating rent increases through a rent index, offering tax credits to encourage foreign direct investment outside Dublin, reforming commercial tax rates based on businesses' ability to pay, and introducing a food hygiene rating scheme. The proposals aim to provide stability for tenants, encourage regional development, support small and medium enterprises, and ensure food safety standards.
Ireland needs to take several steps to regain competitiveness. It must reduce costs such as labor costs that rose above competitive levels during the economic boom. It also needs to improve infrastructure like broadband internet speeds that are below the EU average. Additionally, developing renewable energy sources and improving public transportation in cities could enhance Ireland's competitiveness. Overall, lowering costs while upgrading infrastructure and pursuing innovation are keys to regaining an edge in attracting foreign investment and trade.
The Federal Budget 2014 will affect different sectors differently. This article explores the changes ahead, the pros and cons, and how to make the most of the opportunities that the changes represent.
The Hardware Association Ireland (HAI) presented policy proposals to support business growth and job creation in town and village centres. HAI proposed: 1) Implementing recommendations from recent reports to stimulate rural economies and construction, including rural economic zones and expanding home renovation incentives. 2) Stimulating construction through help-to-buy schemes and credit guarantee programs. 3) Expanding microloan programs and incentivizing temporary seasonal work to boost local entrepreneurship. HAI believes these proposals could help address imbalances in economic activity between rural and urban areas.
National economic survey 2019 20 series volume 1 chapter 3 - pro-business ver...DVSResearchFoundatio
This document discusses the differences between pro-business and pro-crony policies in India. It analyzes stock market and economic trends before and after liberalization in 1991 to show how pro-business reforms unleashed creative destruction and increased competition. In contrast, pro-crony policies that favor connected firms can undermine efficiency and wealth creation by inhibiting competition. Related party transactions, wilful defaults, and discretionary allocation of natural resources are examined as examples of how cronyism can distort the economy compared to pro-competitive business environments.
an architecture whose boundaries are not geographical but theological. That was produced in many different geographic regions whose diverse cultures were unified through the religion of Islam.
Certain architectural features have become fixed and eternal. In this modern world, they help us find our architectural roots and remain true to our identity. Almost every architectural structure addresses, in a direct sense, cultural identity and philosophy within a physical context.
If we want to understand, appreciate, and evaluate the architectural quality of a building, we need to develop a sense of dimension, topography, climate, material, structure, and proportion, and of the surrounding physical environment — both natural and human-made. This sense goes far beyond the building’s ability to serve utilitarian needs.
Pursuing any development or neighborhood plan today involves working with a myriad of actors beyond professional collaborators during planning and design phases. These include direct abutters, surrounding neighbors, elected officials, public agencies, opponents (often), investors, financial institutions, and regulators, all billed as “stakeholders.” Navigating the shoals created by cadres of stakeholders is perhaps the greatest challenge to pursuing sophisticated
ideas about and goals for urban-ism. Consensus around goals that aren’t very ambitious is, unfortunately, common.
However, rather than-wallow in despair about the unpredictable nature of decentralized processes, urban designers must learn to be more effective collaborators,willing participants in true interdisciplinary endeavors, and advocates for ideas not always their own, ideas that have the potential to rally others around higher expectations, not expedient solutions.
The document discusses the privatization of Royal Mail in the UK and the failure of privatizing sewerage services in Malaysia. It provides background on Royal Mail, the reasons for its privatization, and the process undertaken. It also discusses controversies around the privatization and outcomes post-privatization. Regarding sewerage services in Malaysia, the document outlines how privatization led to public outcry over increased charges and a lack of improvements, resulting in the government de-privatizing the services.
The document provides an overview of Chapter 12 from an economics textbook. It discusses key concepts related to consumption, investment, and how changes in these impact real GDP based on Keynesian economic models. Specifically, it covers determinants of consumption and saving behaviors, how planned investment is determined, and how equilibrium real GDP is established through the balancing of total planned expenditures and output. The chapter outline and learning objectives are also summarized.
This final project describes on how India's role as a developing nation in the Global Value Chain (GVCs) and how lead firms & Govt. policies can change the dynamics of GVCs in India by improving upon certain core ares in terms of polices and regulations to become an integral part and active player in the GVC to achieve its goal reaching 5 trillion economy by 2024.
The document discusses what firms need from governments to compete with rivals. It lists high savings, low interest rates for investment, strong property rights, good governance, low inflation, a rapidly expanding domestic market, and a technologically skilled workforce. It provides examples of how governments can promote high savings through subsidies, tax concessions, and stock purchases. It also explains how low interest rates can benefit eco-friendly firms and economic growth. The role of government is to indirectly support industries through standards while facilitating innovation.
Need for privatisation of public sector undertakingsNikhil Das
The document discusses public sector enterprises (PSEs) in India. It notes that while there were only 5 PSEs with Rs. 29 crore investment at the time of the First Five Year Plan, by 2011 there were 248 PSEs with Rs. 6,66,848 crore investment. The document provides statistics on the growth and performance of PSEs in recent years, including increased turnover, foreign exchange earnings, and aggregate profits of profitable PSEs. It also lists some of the largest profitable and loss-making PSEs.
Supply-side policies aim to increase potential economic growth through microeconomic reforms that improve market efficiency. Examples discussed include privatizing industries like Royal Mail; reducing business regulations; lowering taxes on individuals and corporations; welfare reforms to incentivize work; education reforms; increasing wages; changing migration policies; investing in infrastructure for transport, energy, and housing; and establishing regional enterprise zones with tax breaks.
FDI refers to foreign direct investment in a country. There are several types of FDI. India is attractive for FDI due to its large market, expectations of further economic liberalization, and improvements in domestic institutions. Key sectors that received FDI in India from April 2012-2013 included services, pharmaceuticals, construction, and automobiles. While FDI provides several advantages like job creation and access to global markets, it also poses some disadvantages such as crowding out of local industries. The document discusses FDI in various sectors like retail, insurance, aviation and others that are allowed and prohibited for FDI in India. It outlines the benefits and concerns of FDI in the retail sector. Overall, the team's view is
The document discusses upcoming changes to the tax treatment of termination payments in the UK. Specifically:
1) From April 2018, payments in lieu of notice (PILONs) will be treated as earnings rather than termination payments, making them subject to income tax and national insurance contributions.
2) The £30,000 income tax exemption for termination payments will remain, as will the unlimited NICs exemption for certain termination-related payments like redundancy. However, PILONs and payments over £30,000 will be subject to employer NICs.
3) Changes to make employers liable for Class 1A NICs on termination payments over £30,000 were delayed by one year and will now take
Focus on fiscal policy – balanced budget fiscal expansiontutor2u
The document discusses the concept of a "balanced budget fiscal expansion" which aims to stimulate economic growth while maintaining a balanced budget. It involves cutting some spending, like public employee wages, and using the savings to increase other spending, like on infrastructure, that is expected to have a higher fiscal multiplier effect. Several factors can affect the size of the fiscal multiplier, including the type of spending/tax change, who benefits, private sector expectations and credit availability, and responses from monetary policy and other countries. Examples given of policies using this concept include bringing forward tax increases to fund temporary infrastructure spending or cutting some spending to increase capital investment.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael forums across Ireland. The top issues discussed were high labor costs, including the minimum wage and social partnership agreements, as well as high commercial rates. Business leaders also expressed concerns about the lack of credit for small businesses, public sector tendering processes that exclude small companies, redundant regulation, poor quality graduates, lack of political leadership, high commercial rents, inadequate infrastructure, and high energy costs. Some also noted that social welfare payments were too high and disincentivized full employment.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael business forums across Ireland. The business leaders' top concerns included high labor costs, taxes, and commercial rents. They called for tax relief for businesses, increased access to credit, reductions in red tape and government charges. The document also outlines Fine Gael's economic plans to address these issues through tax cuts, establishing a national recovery bank, reducing regulations and reforming public tendering processes to better support small businesses.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders from across Ireland during meetings with Fine Gael's economic team. The top issues discussed were high labor costs, including concerns about the minimum wage, social partnership agreements, and lack of competitiveness. Other concerns included high commercial rates, lack of access to credit, barriers to public sector contracts for small businesses, excessive red tape and regulation, poor quality graduates, lack of political leadership, high commercial rents, inadequate infrastructure, high energy costs, and disincentives caused by social welfare payments. Fine Gael committed to policies to address these issues and promote job creation and business growth in Ireland.
The document summarizes the key concerns and ideas raised by over 1,200 business leaders during Fine Gael business forums across Ireland. The business leaders' top concerns included high labor costs, taxes, and commercial rents. They called for tax relief for businesses, increased access to credit, reductions in red tape and government charges. The document also outlines Fine Gael's economic plans to address these issues through tax cuts, establishing a national recovery bank, reducing regulations and reforming public tendering processes to better support small businesses.
This document presents a fantasy budget proposal from a student team at Galway-Mayo Institute of Technology. It proposes several reforms to encourage growth and stability, including regulating rent increases through a rent index, offering tax credits to encourage foreign direct investment outside Dublin, reforming commercial tax rates based on businesses' ability to pay, and introducing a food hygiene rating scheme. The proposals aim to provide stability for tenants, encourage regional development, support small and medium enterprises, and ensure food safety standards.
Ireland needs to take several steps to regain competitiveness. It must reduce costs such as labor costs that rose above competitive levels during the economic boom. It also needs to improve infrastructure like broadband internet speeds that are below the EU average. Additionally, developing renewable energy sources and improving public transportation in cities could enhance Ireland's competitiveness. Overall, lowering costs while upgrading infrastructure and pursuing innovation are keys to regaining an edge in attracting foreign investment and trade.
The Federal Budget 2014 will affect different sectors differently. This article explores the changes ahead, the pros and cons, and how to make the most of the opportunities that the changes represent.
The Hardware Association Ireland (HAI) presented policy proposals to support business growth and job creation in town and village centres. HAI proposed: 1) Implementing recommendations from recent reports to stimulate rural economies and construction, including rural economic zones and expanding home renovation incentives. 2) Stimulating construction through help-to-buy schemes and credit guarantee programs. 3) Expanding microloan programs and incentivizing temporary seasonal work to boost local entrepreneurship. HAI believes these proposals could help address imbalances in economic activity between rural and urban areas.
This document is Young Fine Gael's pre-budget submission for 2016. It proposes several measures to address issues affecting young people in Ireland such as unemployment, mental health, and third level accommodation. The key recommendations are to increase funding for mental health services, address the lack of student accommodation through incentives for student housing and tax relief for purpose-built accommodation, establish an independent budgetary office to cost opposition proposals, increase employment among graduates through mandatory work placements, standardize the minimum wage, remove certain business taxes, and introduce a recycling levy on bottles and cans. The submission aims to provide "a bright future for young Ireland."
This document discusses several components that are critical for Ireland to regain its competitiveness. It outlines government influence on competitiveness through taxes, grants, subsidies and infrastructure investment. It also discusses improving access to finance for businesses through methods like bank lending, credit guarantee schemes, microfinance and equity finance. Additionally, it examines enhancing Ireland's skill base through further education and training programs as well as apprenticeships. Finally, it analyzes cost competitiveness factors like the cost of property, energy, and technology that impact business costs.
Industrial Strategy: update of summary slides August 2013bisgovuk
Updated summary slides on the Government's rationale behind and approach to Industrial Strategy. Includes progress update on sector and technology strands.
This proposal was a winning entry in The Irish Taxation Institute's annual 'Fantasy Budget' competition in 2015. The budget overview and original measure was submitted as a group project.
This document is a budget submission from Young Fine Gael proposing policies for the 2015 Irish budget. It makes recommendations in key areas like housing, healthcare, education, taxation, and the banking sector. Specifically, it calls for temporarily abolishing VAT on new home sales, freezing prescription charges for medical card holders, allocating more funding to mental health services, protecting students by freezing third level contribution charges, reducing income tax rates, introducing a recycling levy, and removing 1-cent and 2-cent coins from circulation. The submission aims to provide hope for young people by stimulating investment and economic opportunity.
This document outlines Ireland's national enterprise policy vision and strategy for 2025. The vision is for Ireland to have competitive, productive, and globally connected enterprises enabled by an entrepreneurial culture. The strategy aims to drive export-led sustainable employment growth through differentiating Ireland in areas like talent, place-making, innovativeness, and connectedness. The goals are to increase Irish-owned exports by 6-8% annually, reach 55-60% export intensity for Irish firms, and grow Irish exports to non-UK markets by 50% by 2020.
The Irish Tax Institute Fantasy Budget CompetitionSinead Feely
Budget 2015 made some changes aimed at easing the tax burden for low and middle income earners, but provided little relief for higher earners. It closed the controversial "Double Irish" tax scheme and introduced a water charges tax relief. However, the increased USC rate for high earning sole traders may discourage entrepreneurship. While foreign investment incentives were extended, the still high marginal tax rate makes Ireland less competitive for attracting internationally mobile businesses and executives.
The document is a fiscal plan from Fine Gael, an Irish political party. It outlines their proposals to cut the budget deficit through lower taxes and spending reductions. Some key points include:
- Cutting the deficit to below 3% of GDP by 2014 and only borrowing for investment by 2016.
- Renegotiating aspects of Ireland's IMF/EU bailout deal to make it more sustainable.
- Investing €7 billion in infrastructure through a state-owned investment fund to support growth and jobs.
- Focusing budget cuts more on spending reductions than tax increases to minimize economic impact.
- Implementing reforms to improve competitiveness and support job creation.
Fine Gael's 5 Point Plan aims to get Ireland working again through job creation and economic growth. Point 1 focuses on growth and jobs. It proposes a €7 billion NewERA investment program in infrastructure like energy, water and telecoms to create jobs. It also aims to support SMEs, reduce business costs, and promote sectors with growth potential like education, digital media and renewables. The goal is to create 100,000 jobs over 5 years in line with forecasts. It also wants to reform education to create a system for the 21st century.
It gives me a pleasure to present the summary and analysis of Union Budget 2015.
While you may have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2015 on You, Your company and Your sector.
Hope you find this analysis useful in taking business decisions and align your company's strategy with over all economic climate for the upcoming financial year.
Would love to hear your feedback on the usefulness of the same.
The power of productivity and uk prosperityross harling
Aside from Covid & Brexit, UK productivity growth is a major business challenge that can restrict the economy for years to come. Companies need an innovative approach & new skils
2. Discuss the key elements necessary if Ireland is to regain its competitiveness in the future.
National competitiveness on its most basic level states that a countries competitiveness
requires the most effective use of human and natural resources for a country to accomplish a
certain goal. As countries look to prosper as they emerge from the recession, regaining their
national competitiveness is a must. It is one of the biggest challenges facing the Irish
Government at present. As they strive to improve their national competitiveness at present, it
is also important to maintain a high standard and improve upon it in years to come. The key
characteristics that must be met for Ireland to regain its national competitiveness that will be
discussed in this report are:
Cost of Doing Business
Macroeconomic Stability and Public Investment
Developing the Skills and Enterprise Base
Access to Finance
It is vitally important for Ireland to have a strategy to improve the competitiveness of the
country. One area that must be looked at is the cost of doing business. Although there has
been evident improvement in this area in recent years, the need for further improvement in
the area of cost competitiveness is still clear through high levels of unemployment and low
levels of business investment. It is also important to address cost factors of energy while also
taking a look at the current rapid increase in both house prices and residential rent. This could
possibly have an adverse effect on wage expectations and prices throughout the country.
These three sub-areas need to be looked at in order to make sure that Ireland remains cost
competitive.
Labour
To improve labour cost competitiveness, reviewing areas such as Income Tax, PRSI and
Social Welfare Rates are a necessity. High Income Tax rates generally tend to discourage
entrepreneurs and also individuals moving to Ireland to take up employment. (NCC N. C.,
2014) It’s important that Ireland has a competitive tax regime to attract workers to remain in
or return to the labour force. When levels of Income Tax are high, it makes employment
unattractive in comparison to staying on social welfare. Why go through the effort of working
when the majority of your wages are taxed if you can stay on the dole or other benefits and
do far less work. If economic conditions continue to improve then it would be beneficial to
review income taxes to support income but making sure to protect labour cost
competitiveness. The current PRSI step effect is proving to be a discouragement for full time
workers to work overtime and part-time workers to seek extra hours. If working these hours
brings workers above €352 a week, they know this will increase their PRSI that they are
forced to pay. (Protection, 2015) Ireland should consider changing this system to provide
incentive for employees to work at all earning levels to ensure the labour force remains
competitive. In relation to the social welfare rates, if an individual is comfortable on the rates
3. they are receiving they will have no incentive or motivation to return to the labour force.
Changes should be made to reduce payments the longer individuals are out of work and on
the dole. It is also essential to provide adequate training to those that have not been working
for long periods of time and continue to have difficulty obtaining employment.
Energy
Ireland is faced with the challenge over the next few years of delivering on their
environmentally friendly and beneficial energy projects while also managing to lower energy
costs. If businesses are faced with high energy costs, profitability will be affected and
multinational and even new developing firms will be reluctant to establish firms in Ireland.
With the option to relocate to relocate to other countries almost always available, Ireland has
to ensure it remains as attractive as possible to businesses. New companies starting up not
only benefit the labour force but will also benefit the economy through increased revenue and
taxes. However, as of the second half of 2013, Irish prices for large electricity users had
become the 4th most expensive in the EU-28 (Sheehan, 2014). The EU’s industrial electricity
prices are more than twice that of the U.S and within the EU Ireland has the 4th highest
prices. Remaining competitive with energy prices so high in comparison to other countries
round the globe is a lot to ask. Efforts must be made to lower these costs while also acting to
introduce greater use of environmentally friendly options. New homes should be supplied
with renewable energy sources while reducing energy consumption in general should be
highlighted and enforced by the Government.
Property
With housing prices rapidly increasing again, there is a direct impact on the standard of living
and also wage demands throughout the country. With this happening it is essential to ensure a
sufficient supply of both housing and commercial property (NCC N. C., 2014). One way that
has been suggested to aid this is the imposing of a Site Value Tax. This tax would have to be
paid regardless of what is built on the land or what the land is used for. Unlike the PRSI step
effect, this wouldn’t distort supply in a similar way as it is non-discrimatory (NCC N. C.,
2014). With this tax in place it would encourage people who have land with nothing built on
it, or who aren’t using it, to sell the land to people looking to build houses or businesses that
wish to set up in the area. This would help with the supply of housing and commercial
property. Further changes are needed regarding the high rent rates certain businesses have to
pay. While the changes in 2009 that enabled rents to be reviewed downwards was a great
start (General, 2009), Businesses who still have excessively high leases that can only be
amended on an ‘upward only’ basis must be aided to ensure their continued presence in the
country.
Macroeconomic Stability and Public Investment
4. Economic stability and Public investment is vital for Ireland if it is to regain its
competitiveness over time. It is difficult to achieve a stable economy and constant public
investment and it is easy for it to go wrong. If it goes wrong high deficits are known to limit
the range for growth and productivity enhancing investments, also it can arise difficulties to
borrow in the future and therefore leave Ireland vulnerable to external events.
Many areas to Ireland’s economic stability and public investment must be considered to help
Ireland gain back its competitiveness:
Ensuring a Sustainable Revenue Base
To regain its competitiveness it is essential that the Irish government continue to implement a
plan to restore and maintain the levels of public finance needed. The government must also
make sure they are also maintaining the support needed for entrepreneurship and job creation.
According to the NCC (NCC N. , 2014) the identified two main areas that are essential for
ensuring a sustainable revenue base are:
Broadening the Revenue Base
The layout of the tax system, no matter how much revenue is earned can affect
competitiveness. To maintain the existing levels of employment and encourage job creation it
is vital to maintain a taxation system that encourages enterprise which will in turn broaden
the tax base. This also offers the opportunity to regain public finances and maintain the
current levels of public spending in the areas of science, technology and research and
innovation.
The ‘Celtic Tiger’ eras problem was the narrowing of the revenue base which caused Ireland
to be mainly reliant on property related taxes. The article by the NCC I referred to earlier
states that the use of the Universal Social Charge would help the government and Ireland
itself to reduce the risk of being over reliant on income tax receipts which are paid by a slim
number of earners. We must continue to find new ways of broadening the tax system that will
cause as little damage to our competitiveness as possible. (NCC N. , 2014)
Fáilte Ireland carried out a survey when the decrease of VAT occurred in 2011 (13.5% to 9%
on tourism related categories) within the Irish tourism sector (including employment within
the sector). The results concluded that reducing the rate of VAT caused an increase in the
levels of employment and an increase in the Irish tourism sector without causing too much
stress on the exchequer. (NCC N. , 2014)
International Tax Competitiveness
Investment decisions are decided by looking at many different factors including the cost of
doing business and access to different markets. The business sector classes Ireland’s current
tax regime as competitive. Ireland has a corporate tax rate of 12.5% at the moment. This
5. should not be changed as the low rate attracts foreign global companies to set up in Ireland.
(Department of Finance, 2014)
The current focus of the international tax regime is on the OECD/G20 Base Erosion and
Profit Shifting project (BEPS). This project concerns the tax planning strategies that expose
gaps and mismatches in tax rules to falsely shift profits to little or no tax locations to areas
with little or no economic activity. (OECD, 2014)
This corporation tax rate is essential for Ireland to maintain to increase our competitiveness.
Increasing and Targeting Public Investment
To increase Ireland’s job creation and support economic growth it is essential that the
government offers them high quality industrial and commercial property and upgrade the
current key urban centres to make them a more attractive place to live and work. Although
there has been a big improvement over the last two decades within Ireland’s quality of
infrastructure, a survey carried out by Ireland’s Competitiveness Scorecard showed that
Ireland is currently still lagging behind countries we compete for trade and investment with.
(Revenue, 2015)
Irelands Public capital expenditure has fallen dramatically since 2008. Government spending
in 2013 is a 1.8% of the GDP compared to 5.8% of the GDP in 2008. The fall in numerical
terms is a €5.7 billion difference in the two percentages (€3.3 billion spent in 2014 compared
to €9 billion in 2008). We as a country must continue to grow and match the GDP of our
competitors. (NCC N. , 2014)
Infrastructure Investment Priorities:
This year a new Infrastructure Investment Plan will be released by the government to aide
future economic growth following a review of the infrastructural requirements. I have
identified some of the infrastructural priorities which support competitiveness:
Water Services: In the short term it’s vital to fix current water services constraints in Dublin.
In the medium to long term it’s essential to create an investment plan to balance the water
services needed for Irelands competitiveness.
Telecommunications: Enhancing Ireland’s current national and international connectivity is
essential to support the needs of existing and future companies in the IT sector. The
government must increase the connectivity of broadband across Ireland to increase our
connectivity and overall competitiveness.
Social Housing: An expansion in the number of social housing is critical due to the
increasing rent rates and property prices. The establishment of the Housing Supply
Coordination Task Force for Dublin (discussed in construction 2020) is vital at the moment to
address problems areas at the moment like the rising housing challenge.
Transport: Effective and efficient national transport systems and national roads are needed to
transport goods and people faster than before.
Energy: Although it is not funded by public capital expenditure, public policy ensure that’s
the current and future needs of enterprises are met. (NCC N. , 2014)
6. Ireland’s Competitiveness Scorecard has shown that private sector funding has collapsed. The
government must try and focus on increasing the amount spent on the private sector and
ensure the markets are working correctly to maximise return to the public and private sector.
Overall all of the points above prove how economics stability and public investment are key
characteristics to help Ireland regain its competitiveness.
Developing Skills Base
Labour and skills challenges are impeding competitiveness and are limiting how the gain
from improved competiveness in the country are shared. The skills of the workforce are a
primary driver of productivity and long term competiveness. For example the more you are
educated the more you will be competitive in the long run. Skills development across all
levels of the education and training system must remain a priority for policymakers. Like
everything the more you study and work your way to the top the more you will progress for
policymakers it is important that people have developed the skills before they reach this
stage. Labour and skills challenges are limiting how the gains from improved
competitiveness are shared as certain cohorts of the labour force and they have difficulty
accessing these opportunities. Many long term unemployed workers, are ill equipped to work
in these sectors for example ICT occupations across all sectors of the economy, export
sectors and occupations requiring of multi lingual and technical skills.
Addressing the unemployment challenge and providing a targeted response to meeting skills
is an everyday challenge of the Council and they are always looking for ways to improve the
education and training system.
Implementing a new training strategy and delivering structure to provide better high
quality with a particular focus on the unemployed to focus on getting them back into
permanent work.
Modernizing the apprenticeship system to bring a much greater focus on – on the job
learning.
Throughout Europe in high classes college’s they are trying to bring in a more practical side
to work in the course. This is similar to what the Council are trying to do here. They are
saying anyone can be smart on paper but we don’t really want to worry about that we are
more interested in solving cases and how would you go about it. They will learn quicker and
also have a greater knowledge of the job in hand. In terms of numbers for how much people
will attend courses in Ireland the figures currently stand at 200,000 people will enroll in
Department of Education and Skills which will be funded by Further Education and Training
this year. The Department will spend a total of €826 million this year alone to fund the
project.
Employer Engagement
Employers have a key role in this system being a success. They are constantly in contact with
the tutors for each programme to ensure that high standards have been met. They are also
consulted on the type of work which will go on in the course. Also Employers can also
facilitate work placement which provides on the job learning, enhancing the quality and
balance of education training programmes.
7. Developing the Enterprise Base
Ireland’s economic growth is dependent and on a sustainable, competitive enterprise base
encompassing both indigenous and foreign owned firms that trade internationally, those that
currently serve local markets with potential to internationalize, and those that will continue to
play a key role in serving local demand. To achieve sustainable economic growth and create
meaningful jobs, therefore, we need a strong and dynamic range of MNC’s, large enterprises,
SME’s and a steady flow of new business startups.
Investment – Investment is very important in the development of the Enterprise Base and it
can determine our competitiveness and future growth. The collapse of investment has hurt us
heavily in recent years. In Ireland investment fell by 71% between 2008 and 2013, this was
the second largest decline in the euro area. Ultimately, Ireland’s relative attractiveness to
investors is shaped by a combination of factors ensuring that our tax regime is competitive
and also the availability of skills a funding when an MNC might set up in Ireland can all be
deciding factors.
Foreign Direct Investment has been a key contributor to Ireland economic development, with
the developing agency supported foreign owned companies’ directly employing 172,000
people in 2013. Global competition for the attraction of FDI has intensified significantly in
recent years.
Supporting Entrepreneurship
It is recognized that small startup firms tend to bring about pioneering idea and that
significant job opportunities come from young firms. Data published by the Central bank in
2013 concludes that 67 per cent of new job creation comes from new companies within the
first five year of them being in existence. The focus of entrepreneurship policy is to stimulate
higher levels of entrepreneurial activity by influencing a greater supply and quality of
entrepreneurs to create new businesses. In order to facilitate the development of
entrepreneurial culture, it’s very important that the states administrative system operates as
efficiently as possible and minimizes the costs placed on firms. In response to this the
government has introduced a new system which allows new companies to have access to the
prompt registration of business taxes. It remains very important that Irelands performance in
this space is continually monitored, particularly versus our competitors, through for example,
the World Bank’s doing business index. Planned changes will happen to the index, which will
result in an increased emphasis on the quality of regulations which will challenge all
countries including Ireland, to review and improve their performance.
8. Access to Finance
Finance is the lifeline for every business. If a business didn’t have the necessary funds
required then it wouldn’t be in operation to begin with. The requirement to have access to
finance grows as a business grows. Without finance a company wouldn’t be able to expand or
make an increased profit. Diversifying sources of finance offers significant competitiveness
advantages (National Competitiveness Council, 2014). There’s two main sources of finance:
Bank Funding
Non-Bank Funding
Bank Funding
While economic growth is possible in the absence of credit, credit less recoveries are on
average substantially weaker than normal recoveries - growth is on average one third lower.
In their latest review of the Irish economy (May 2014), the IMF notes that: “A sustained job-
rich economic recovery hinges on reviving healthy lending. Investment is beginning to
rebound from depressed levels, largely financed by retained earnings. In the medium term,
however, a paucity of credit would impede the domestic demand revival which is critical for
job creation” (National Competitiveness Council, 2014). In order to secure finance from a
bank, you must prove your business is viable or potentially viable (McBride, 2012). The
process starts off by applying for a loan which requires the owner of the business to provide
the bank with a loan proposal. The Small Business Administration says loan proposals must
include a written description of the company’s history, who its competitors are and what the
funds would be used for, such as an explanation of the project (Sheahan, 2015). If your bank
loan is approved then between the business and the bank they work out the fine details e.g.
loan duration, interest rate and the repayment grace.
Non-Bank Funding
Business bank loans are only one source of finance. There is an array of non- banking
funding. These sources are,
Equity finance
Accounts receivable/payable
A loan from a family member
Off Balance sheet financing sources
Government financial support through the state enterprise agency
Equity Finance
Equity finance is made up of business angels and private investors, venture capital, private
equity and government equity. Since 2008 there has been a rapid growth in the use of shares
and equity by Irish businesses. Most businesses will require private equity to be invested in
the business to either expand or to start off as some banks will classify a business as too risky
to reward a business loan to.
9. Accounts Receivable/Payable
Accounts receivable/payable can entail the business solely relying on their suppliers and their
consumers to help finance their business. It’s more of an old style way of doing business
which can be an advantage as they’ve a competitive edge over the likes of a business who has
a bank loan as they won’t have any repayments. Therefore they retain a greater profit .It’s a
bigger risk then the likes of a bank loan or even equity finance as they’re relying on their
product to be of top quality in order to sell well and make a reasonable turnover in order to
keep the business up and running.
A Loan from a family member
A loan from a family member can be viewed at in two ways. It can be seen as an investment
or simply just as a loan. A loan from a family member has plenty of advantages but it also has
a few disadvantages. The advantages being,
You pay no interest
You pay back what you can when you can
On the contrary the disadvantages can sometimes potentially outweigh the advantages as
the disadvantages are that,
It can lead to a family rift
If the business fails how do you plan on paying them back?
Off Balance Sheet financing sources
Off balance sheet financing sources would be the likes of hire purchase and leasing. Again
you’re when dealing with finances there is always going to be advantages and disadvantages.
The advantages of hire purchase would be that,
You’ve use of the product then and there
Offers a way of spreading the cost of the acquired asset over its life time.
There is obviously going to be some downfalls with hire purchase as there’s always a catch
with a buy now pay later scheme. The disadvantages of hire purchase would be,
You don’t own the asset until your last payment and by then it may be worth nothing
due to depreciation
The total amount paid back at the end of it all will be considerably more then what the
asset cost at the time.
10. Government financial support through the state enterprise agencies
There have been 69 substantial commercial enterprises in existence at some point
since the first such organisation was established (Forfas, 2005). An example of this
would be Enterprise Ireland. Enterprise Ireland is the government organisation
responsible for the development and growth of Irish enterprises in world markets.
They work in partnership with Irish enterprises to help them start, grow, innovate and
win export sales on global markets (Enterprise Ireland, 2015). In return this allows
Irish businesses to have the competitive edge over some other European countries as
it allows small Irish businesses to potentially become global with the help of their
funding and guidance which in return promotes economic growth and provides
employment.
From doing our project we have found that there is various aspects needed for Ireland
to be considered competitive as a nation. In terms of the cost of business in Ireland the
various aspects that we looked at were labour, energy and property. In terms of
looking at labour we found that what makes Ireland competitive is the fact that they
have a widely educated population and also they have low tax levels which
encourages people to set us a new business in Ireland. In terms of energy we found
that the government wants to ensure that rising energy prices will discourage new
firms setting up in Ireland. Property is to ensure that Ireland will have the most
effective use of land space also that property levels are kept low which will keep the
standard of living low. We also looked at how Ireland can develop the skills base as a
whole. Firstly we looked at how we as a nation can further develop our education and
training. We can also offer apprenticeships to people who are out of work which will
in turn will qualify people for a skill and help find them a job. We then looked at
developing the enterprise base. We looked at how new companies setting up in
Ireland produce 70% of new jobs for people within the first 5 years of setting up. We
also found out how new companies need an extra bit of help from the government in
terms of finance and Ireland’s Government offers a set up cost for MNC’s who chose
to locate in Ireland. Also the Irish Government realizes that it is very important to
promote entrepreneurship from within the country as it will result in jobs being
created and in return money will be pumped back into the Irish economy if we have
close to full employment. In terms of Irelands Macroeconomic stability and Public
investment the Irish Government must ensure a sustainable revenue base by providing
support for entrepreneurship and job creation by broadening the revenue base and
making the correct decisions for our International Tax Competitiveness. They must
also aim to Increase and Target levels of Public investment through Infrastructure
Investment priorities such as Water services and Telecommunications. In order for
Ireland to be competitive as a nation the government has provided a helping hand
when it comes to expanding or creating a new business through state enterprise
agencies. For businesses in Ireland it’s not always easy for them to have access to
finance as there’s many factors that have to be considered, so the government have
stepped in by offering these sustainable commercial enterprises which in return is a
step towards Ireland regaining its competitive edge.
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