It is rather surprising now to be reminded of the significant negative opinion that the Irish political establishment had of China in 2007. It is best illustrated by the high profile campaign calling for countries to boycott the 2008 Beijing Olympics which gained the support of independent senators, Fine Gael (in the form of Simon Coveney), Labour, Fianna Fáil and the Green Party.
The plan to postpone the payment of the Anglo Irish promissory note until 2025 is part of a wider attempt to save the asses of the banks by maintaining the fiction they are not insolvent. By Donagh Brennan.
Ann Pettifor has argued regularly that the problems in the British economy stem from the vast level of private sector debt, principally in financial institutions rather than with public sector debt.
“A low rate of corporation tax on export-orientated activity has been a cornerstone of our industrial policy since the 1950s and the 12½% rate is now part of our international ‘brand’. The contribution from the corporate sector will be made through the maintenance and creation of high value employment.”
So said the National Recovery Plan 2011-2014, issued on 24 November 2010 by the Fianna Fáil/Green Party and which received glowing approval from the EU, IMF and the ECB.
Irish corporation tax policy is not about attracting companies that create growth within the country in terms of jobs or through helping to develop indigious Irish enterprises through skills transfer or use of services - it's about attracting companies whose only reason for establishing a base here is tax avoidance. By Donagh Brennan.
Good news for a change. While Iceland was one of the first countries after the collapse of Lehman Brothers to get an IMF bailout, it is, according to this Reuters report published in the Irish Times today, starting to come out of recession.