Ireland's global competitiveness slipping in WEF report. That affects potential for pay increases.

Patslatt1

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See https://www.weforum.org/reports/the-global-competitiveness-report-2016-2017-1 and The Times of London paywall article https://www.thetimes.co.uk/article/ireland-slips-down-the-list-of-most-competitive-countries-n6mqxgv36.

Ireland's ranking slipped one place to 24th out of 137 countries, continuing the long term downtrend in rankings over the past two decades. Major reasons for the latest decline include a weak banking system,ranked a lowly 109th out of 127 countries for financial soundness, and infrastructure that is ranked well below developed countries.

Other problems for business include tax rates (presumably high marginal income tax rates on modest incomes), access to financing and civil service inefficiency.

The education system and market efficiency category scored well.

World Economic Forum criticised the failure of government to introduce reforms to improve competitiveness.That will affect productivity and the potential for pay increases.

In my opinion,while the banking industry's remaining problems with mortgage arrears are well publicised, the government policy of starving infrastructure spending in austerity in order to maintain current spending needs scrutiny. A lot of infrastructure spending projects and potential for stimulative income tax cuts were sacrificed to keep public sector pay and pensions at close to the top in the EU.

As for the WEF's criticism of government, it is hard for a weak coalition government to introduce reforms, most of which are opposed by various vested interests. If the Irish voters countinue to support useless small parties and independents, weak coalitions may become the new normal.
 
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Filibuster

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Patslatt1

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Infrastructure here ranks middle-of-the-road by EU standards

https://ec.europa.eu/transport/facts-fundings/scoreboard/countries/ireland/investments-infrastructure_en

The biggest issue I'm seeing here is banking. The banks are 109th because of the 2008 crisis and they're going to take a long time to recover. In fact, we'd be better off just moving into a single European banking market and seeing them merged and having access to better banks and more choice.
The EU average includes a lot of low income countries in eastern and southern EU. Ireland should be well above average to compare with the advanced EU countries.
 

Patslatt1

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Infrastructure here ranks middle-of-the-road by EU standards

https://ec.europa.eu/transport/facts-fundings/scoreboard/countries/ireland/investments-infrastructure_en

The biggest issue I'm seeing here is banking. The banks are 109th because of the 2008 crisis and they're going to take a long time to recover. In fact, we'd be better off just moving into a single European banking market and seeing them merged and having access to better banks and more choice.
NAMA's assets which derived from the workouts on bank debt could be sold and the proceeds reinvested in bank share issues to improve bank capital ratios. Those shares could be resold in secondary market offerings over the next five years or so.
 

General Urko

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I suppose the solution that will be put forward to increasing our competitiveness will be to rape workers' wages further!
 

Patslatt1

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I suppose the solution that will be put forward to increasing our competitiveness will be to rape workers' wages further!
50% tax rate on incomes a bit above average is confiscatory. It also discourages small business expansions.
 

making waves

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And the World Economic Forum is an impartial observer without an agenda :roll:

50% tax rate on incomes a bit above average is confiscatory. It also discourages small business expansions.
Actually bullsh*t
 

Clanrickard

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boldfenianman

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A new motorway up to Tuam in the Wesht. In the news today. 2 lanes each way again. Do they never learn?
 

Voluntary

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I suppose the solution that will be put forward to increasing our competitiveness will be to rape workers' wages further!
Like in Luxembourg (no. 19), New Zeland (no. 13), Japan (no. 9), Germany (no. 5) or Switzerland (no. 1)?

Only fool can link the high global competitiveness with workers exploitation. It's complete opposite in the real world.
 

Trainwreck

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See https://www.weforum.org/reports/the-global-competitiveness-report-2016-2017-1 and The Times of London paywall article https://www.thetimes.co.uk/article/ireland-slips-down-the-list-of-most-competitive-countries-n6mqxgv36.

Ireland's ranking slipped one place to 24th out of 137 countries, continuing the long term downtrend in rankings over the past two decades. Major reasons for the latest decline include a weak banking system,ranked a lowly 109th out of 127 countries for financial soundness, and infrastructure that is ranked well below developed countries.

Other problems for business include tax rates (presumably high marginal income tax rates on modest incomes), access to financing and civil service inefficiency.

The education system and market efficiency category scored well.

World Economic Forum criticised the failure of government to introduce reforms to improve competitiveness.That will affect productivity and the potential for pay increases.

In my opinion,while the banking industry's remaining problems with mortgage arrears are well publicised, the government policy of starving infrastructure spending in austerity in order to maintain current spending needs scrutiny. A lot of infrastructure spending projects and potential for stimulative income tax cuts were sacrificed to keep public sector pay and pensions at close to the top in the EU.

As for the WEF's criticism of government, it is hard for a weak coalition government to introduce reforms, most of which are opposed by various vested interests. If the Irish voters countinue to support useless small parties and independents, weak coalitions may become the new normal.
Oh, FFS.

This is an expensive marketing document for yet another organisation trying to make money.

It is of zero value.
 


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