| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:The Real Big Story : UK Economy continues to shrink under Gordon Brown | |
| Posted by: | David Giles | |
| Date/Time: | 28/10/09 19:07:00 |
| Frasr You are quite right. However, there are some other reasons other than the inflow of cash from the EU and overseas investors why Ireland prospered over the last ten to twenty years: 1. The best educated workforce in the English speaking world- particulary in terms of maths, science, IT, engineering, business and linguistic skills-based on independently managed but state funded academically and vocationally ambitious primary and secondary schools working together with modern innovative universities and institutes of technology (similar to but better than the polytechics abolished here in the UK) to provide skills useful in the modern economy; 2. Strong work hard/play hard ethic modelled more on North America than Europe; 3. Strong commitment to private enterprise and the free market economy; 4. Easy access to EU and North American markets; 5. Establishment of modern high tech industries in areas such as IT hardware and software, pharmaceuticals (Ringaskiddy near Cork is the Viagra capital of Europe), medical equipment, food ingredients and processing: 6. The willingness of Irish banks to borrow globally (particularly from within the eurozone) and loan locally; 7. Low euro interest rates and low rates of corporate and personal tax; 8. Ready availability of land for development purposes; 9. Absence of traditional but now largely redundant heavy industries such as coal mining, shipbuilding, motor manufacturing and steel-making dominated by reactionary trade unions; 10. Vibrant construction sector - the motor of the Irish economy- which has now collapsed. |