There is a widespread misunderstanding as to the causes of Ireland’s growth during the years of the ‘Celtic tiger’. The assumption is that it was all based on lower corporation tax rates, plus the generous grant funding regime of the Industrial Development Agency. While it is true that this were significant, this is a long …
Why Northern Ireland needs a larger university sector Read More »
A walk around the centre of Athens does not evoke a sense of crisis at the moment. Nor does a boat trip to the islands. The tourist season is underway and on the surface, all seems well, with lots of visitors crawling over the Parthenon. Even the street sleepers that were so evident when I …
Trends move in one direction, but often then turn again. So it is with offshoring. Back in the 1990s and early 2000s, many companies saw the opportunity to cut costs by transferring production away from the developed economies, to developing nations. Nowhere benefited more from this than China, with its low labour and other production …
How ‘reshoring’ could boost Northern Ireland’s economy Read More »
Initial attention to the Stormont House Agreement focused, understandably, on welfare reform and other contentious items such as dealing with flags, parades and investigating Troubles-related violence. Consideration with regard to the economy has been dominated by the intended devolution of corporation tax. Careful reading of the Agreement, though, suggests a raft of other measures that …
Commercialising Northern Ireland’s public sector Read More »
A new public transport interchange in the heart of Belfast connected to a modern shopping plaza and high quality office accommodation could be the first project financed through the new Northern Ireland Investment Fund, it has emerged. Simon Hamilton told Business Month, in an exclusive interview, that he is keen to make much faster progress …
There has been enormous confusion about the cost to Northern Ireland of the UK Government’s welfare reforms. While the figure of £750m has been widely quoted, it has become clear in recent weeks that much of that sum relates to changes that have already been implemented. The £750m figure came from a report – The …
What the welfare reforms mean for Northern Ireland’s economy Read More »
If your image of a self-employed person is a consultant carrying a briefcase, think again. According to the Office for National Statistics (ONS), the most common jobs for the self-employed in the UK were in the construction sector, followed by taxi drivers and then carpenters and joiners. And while some of the self-employed are undoubtedly …
There has been enormous confusion about the cost to Northern Ireland of the UK Government’s welfare reforms. While the figure of £750m has been widely quoted, it has become clear in recent weeks that much of that sum relates to changes that have already been implemented. The £750m figure came from a report – …
The potential closure of the JTI factory in Ballymena, with the loss of nearly 900 jobs, is a warning shot for the whole of Northern Ireland. Nor is JTI alone. Northern Ireland’s three largest manufactured goods businesses as listed in the Belfast Telegraph’s Top 100 Companies of 2013 – Bombadier, Caterpillar and Quinn – have …
Is there a future for manufacturing in Northern Ireland? Read More »
If your image of a self-employed person is a consultant carrying a briefcase, think again. According to the Office for National Statistics (ONS), the most common jobs for the self-employed in the UK were in the construction sector, followed by taxi drivers and then carpenters and joiners. And while some of the self-employed are …
There was little on offer in the Budget specifically targeted at Northern Ireland. But Coleraine benefited from one announcement that is expected to lead to new jobs and substantial investment. The north coast town is to become Northern Ireland’s data centre capital. A small enterprise zone is to be created on the edge of …
Scotland has significant economic advantages over Northern Ireland. It is not separated from the rest of the UK by the Irish Sea, so its distribution costs are lower than ours. It does not have a southern neighbour offering a lower tax rate. It has the significant benefit of its oil, gas and growing renewable energy …