Big positive economic surprises - even in Europe. Even in the UK! What's wrong with a little wage inflation? Interest rate expectations move up again. Curve balls and landings.
David, got this from an accountant after Budget 2023. It includes
Job Seekers Allowance; Qualified Adult Dependent; Qualified Child Dependent; Back to School allowances; October Double Welfare Payment; Christmas Bonus; Max HAP Allowance per month; Fuel Allowance 28 weeks; Fuel Allowance Once Off Payment; Double Child Benefit Payment; Child Benefit.
Avid listener Jim and Chris, thanks for putting out such valuable content every week.
I have a question about the CBI announcement last week on our GDP growth. One point I didn't see mentioned is there seems to be an increasing gap between our GDP and GNP over the past few years. According to the CSO for 2021, this gap was at 25%(up from 19% in 2017), or in other words €90 billion of our GDP leaves the country.
In comparison to other development nations besides Luxembourg, this deficit is by far the highest, I would like to ask for your opinions on this. What is it an indication of and should our government be doing more to close the gap?
*Thanks very much Jim for sharing your insights on this in the latest episode. Totally agree that we would be shooting ourselves in the foot were we to try reduce the gap. I think my point was more along the lines of considering 25% of our GDP is not directly contributed to our economy (besides the corp tax taking) and over 50% of our corp tax is from just 10 multinationals, it leaves our economy in a perilous position as it is overly exposed to global shocks, which I feel is not a healthy position for us to be in long-term, so our government strategy should be looking at how to stabilize this situation.
David, got this from an accountant after Budget 2023. It includes
Job Seekers Allowance; Qualified Adult Dependent; Qualified Child Dependent; Back to School allowances; October Double Welfare Payment; Christmas Bonus; Max HAP Allowance per month; Fuel Allowance 28 weeks; Fuel Allowance Once Off Payment; Double Child Benefit Payment; Child Benefit.
Avid listener Jim and Chris, thanks for putting out such valuable content every week.
I have a question about the CBI announcement last week on our GDP growth. One point I didn't see mentioned is there seems to be an increasing gap between our GDP and GNP over the past few years. According to the CSO for 2021, this gap was at 25%(up from 19% in 2017), or in other words €90 billion of our GDP leaves the country.
In comparison to other development nations besides Luxembourg, this deficit is by far the highest, I would like to ask for your opinions on this. What is it an indication of and should our government be doing more to close the gap?
https://www.cso.ie/en/interactivezone/statisticsexplained/nationalaccountsexplained/grossnationalproductgnpandgrossnationalincomegni/
*Thanks very much Jim for sharing your insights on this in the latest episode. Totally agree that we would be shooting ourselves in the foot were we to try reduce the gap. I think my point was more along the lines of considering 25% of our GDP is not directly contributed to our economy (besides the corp tax taking) and over 50% of our corp tax is from just 10 multinationals, it leaves our economy in a perilous position as it is overly exposed to global shocks, which I feel is not a healthy position for us to be in long-term, so our government strategy should be looking at how to stabilize this situation.