Elections, as you often say Chris, have consequences, and in today's global geopolitical and economic landscape Ireland's general election this week will have enormous consequences. All parties are promising significant spending growth - many of these commitments will not be achieved given the coming transatlantic economic storm from President-elect Trump's tariff and tax plans . One party here stands out amongst the three larger parties as planning to dramatically narrow our tax base, pile more taxes on fewer people and pump spending up to what can only be described as astronomical levels. The money simply will not be there. To describe Sinn Féin's economic plans as undeliverable is a reasonable position given what we now know. Mr Trump is well into implementing his promises, appointing a cabinet based on fealty to him and his public electoral commitments. He will impose high new tariffs on imports and he will reduce corporation tax in the US. He will demand the return of foreign investment by US companies to their homeland. The result will be that US companies in Ireland and elsewhere will be highly incentivised to move at least some of their investments back home. FDI executives, managers and higher earners will be primed to return to the US if Sinn Féin is in pole position after the general election. This incentive is undeniable given Sinn Féin's public commitments to target higher earners by piling more taxes on them. Our Department of Finance knows that it will take only a small quantum of international capital flight from Ireland to collapse our tax take. Sinn Féin knows this too, but if elected, it will go ahead with its plans to significantly narrow our tax base and pile more taxes on the few who already deliver Ireland's highly progressive taxation and welfare systems. The top 5% of taxpayers already pay over 48% of all income tax and USC collected in Ireland - a staggering imbalance.
Having read Adams' article as well, I'd agree with most of the thrust of your piece Chris. I remember Adams during the election debates of 2016 and he was badly exposed as not being very economically literate. Although it's time to retire your tired trope about a 'dystopian hellhole'!
What I find interesting about this election campaign is that there seems to have been no debate about Northern Ireland, neutrality, defence, no vision articulated about what our country and society could or should look like in 10, 20, or 30 years time. Referring to one of Adams' points, we have no visionaries in our parliament. Our world is changing quickly, and the preposterous situation that we are siphoning of the taxes of multinational companies based on economic activity outside our jurisdiction to maintain our standard of living is not sustainable.
Thanks. Yes, we seem to broadly agree. Yeah, it’s a trope - I guess a matter of opinion about how tired it is. There is a long piece in today’s U.K. edition of the Sunday Times by a journalist who describes Ireland as a thoroughly nasty place, mostly by referencing the Dublin riots. He describes Dublin as he walked around it last Thursday. I happened to be there as well on that day. I saw a very different city to the one described in the piece. So, mindful of the tired trope critique, I will nevertheless roll it out when I see journalists (Fintan is egregious in this regard) and politicians who pursue their own version of the trope.
I think the point is, Ireland is neither a nasty place/dsytopian hellhole or a utopia, it's somewhere in the middle. Bit unfair on Fintan there - invite him or a Shinner on to debate! Beware of your podcast being a real echo chamber - serious constructive interference between Jim and Sarah Carey today ;)
How could they let Gerry A. Rise to the fore again. I thought they were hoping people would forget their “bloody glory days”??
Gerry is deffo living in a cocoon of his memories, and the fact that Mary Lou and party leaders did not heavily edit his piece speaks volumes. It says to me that they are only puppet leaders, others are pulling the party strings.
Gerry’s idea of “the left” is a more strident version of Robin Hood. Sustainability is an unknown concept (maybe he believes money grows on trees!) as is data verified facts.
The Sinn Fein party has been done no favours by Gerry’s musings - time for them to disassociate completely.
Jim - I loved your adjectives for the last 5 UK PM … a masterstroke!
Thanks Deirdre - your points are all well made. It is indeed a mystery why a Party trying to persuade the electorate to forget the past would then wheel out the main symbol of that past.
Very timely article. Rolling Gerry Adam's out when Sinn Fein is trying to distance itself from its past. They're not serious political operators in SF HQ
Elections, as you often say Chris, have consequences, and in today's global geopolitical and economic landscape Ireland's general election this week will have enormous consequences. All parties are promising significant spending growth - many of these commitments will not be achieved given the coming transatlantic economic storm from President-elect Trump's tariff and tax plans . One party here stands out amongst the three larger parties as planning to dramatically narrow our tax base, pile more taxes on fewer people and pump spending up to what can only be described as astronomical levels. The money simply will not be there. To describe Sinn Féin's economic plans as undeliverable is a reasonable position given what we now know. Mr Trump is well into implementing his promises, appointing a cabinet based on fealty to him and his public electoral commitments. He will impose high new tariffs on imports and he will reduce corporation tax in the US. He will demand the return of foreign investment by US companies to their homeland. The result will be that US companies in Ireland and elsewhere will be highly incentivised to move at least some of their investments back home. FDI executives, managers and higher earners will be primed to return to the US if Sinn Féin is in pole position after the general election. This incentive is undeniable given Sinn Féin's public commitments to target higher earners by piling more taxes on them. Our Department of Finance knows that it will take only a small quantum of international capital flight from Ireland to collapse our tax take. Sinn Féin knows this too, but if elected, it will go ahead with its plans to significantly narrow our tax base and pile more taxes on the few who already deliver Ireland's highly progressive taxation and welfare systems. The top 5% of taxpayers already pay over 48% of all income tax and USC collected in Ireland - a staggering imbalance.
Thanks Mark. Your points are very well made. Just as with Trump, nobody can’t say they weren’t warned about SF!
Having read Adams' article as well, I'd agree with most of the thrust of your piece Chris. I remember Adams during the election debates of 2016 and he was badly exposed as not being very economically literate. Although it's time to retire your tired trope about a 'dystopian hellhole'!
What I find interesting about this election campaign is that there seems to have been no debate about Northern Ireland, neutrality, defence, no vision articulated about what our country and society could or should look like in 10, 20, or 30 years time. Referring to one of Adams' points, we have no visionaries in our parliament. Our world is changing quickly, and the preposterous situation that we are siphoning of the taxes of multinational companies based on economic activity outside our jurisdiction to maintain our standard of living is not sustainable.
Thanks. Yes, we seem to broadly agree. Yeah, it’s a trope - I guess a matter of opinion about how tired it is. There is a long piece in today’s U.K. edition of the Sunday Times by a journalist who describes Ireland as a thoroughly nasty place, mostly by referencing the Dublin riots. He describes Dublin as he walked around it last Thursday. I happened to be there as well on that day. I saw a very different city to the one described in the piece. So, mindful of the tired trope critique, I will nevertheless roll it out when I see journalists (Fintan is egregious in this regard) and politicians who pursue their own version of the trope.
I think the point is, Ireland is neither a nasty place/dsytopian hellhole or a utopia, it's somewhere in the middle. Bit unfair on Fintan there - invite him or a Shinner on to debate! Beware of your podcast being a real echo chamber - serious constructive interference between Jim and Sarah Carey today ;)
How could they let Gerry A. Rise to the fore again. I thought they were hoping people would forget their “bloody glory days”??
Gerry is deffo living in a cocoon of his memories, and the fact that Mary Lou and party leaders did not heavily edit his piece speaks volumes. It says to me that they are only puppet leaders, others are pulling the party strings.
Gerry’s idea of “the left” is a more strident version of Robin Hood. Sustainability is an unknown concept (maybe he believes money grows on trees!) as is data verified facts.
The Sinn Fein party has been done no favours by Gerry’s musings - time for them to disassociate completely.
Jim - I loved your adjectives for the last 5 UK PM … a masterstroke!
Thanks Deirdre - your points are all well made. It is indeed a mystery why a Party trying to persuade the electorate to forget the past would then wheel out the main symbol of that past.
By the way, it was Chris wot wrote that piece 😄
I apologise to you both for the mistaken identity 🤭
I feel you’re getting more alike in tone!
Brilliant piece. I agree with every single word.
Thanks Mark - please share with your friends if you can. Really helps us.
Very timely article. Rolling Gerry Adam's out when Sinn Fein is trying to distance itself from its past. They're not serious political operators in SF HQ
Thanks!