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One question I have for the list, where can we get the biggest bang for our buck in terms of stimulating employment? – through tax credits for businesses or subsidies such as grants, etc
Nollaig >> (All): What is the level of skillsets in management at Irish SME’s verses Multinationals Should there be compulsory training/certifcate for owner/mangers of Irish SME’s eg leansystems like 6 sigma
john doyle >> (All): what is your opinion on lowering rates for business by local governments. Can it be done and what are the problems you might face?
Steve Daley >> (All): Reducing the costs of labour to incentivise private sector employment doesn’t address the one-sided character of the Irish private sector. TBH most of the private sector is based on consumption, this needs to be restructured to move away from being a resller economy. We need to drstically expand labour productivity that creates surplus to fund public services employment.
Nollaig >> (All): Is the inflexability of the JLR’s costing jobs
Steve Daley >> (All): PPP is just another way of subsidising private sector and abdicating responsibility for public works. We need massive infrastructure so why not reestalish a public works programme that employs our surplus of civil engineers and labourers.
Nollaig >> (All): JLR = Joint labour court ruling on pay to sectors of the economy
Dan >> (All): What do you think of the politicians talking about supporting employment in the construction industry? Surely we should let it find it’s natural level, interference was the problem in the first place
Brian ONeill >> (All): Hi Stephen, I have my own business and have worked for myself all my life. Recently I have been questioning our system of basically people buying a lot of crap they don’t need with money they don’t have. I don’t want to come across as a complete lefty hippie as I said I am in business, and I know people need jobs, but are there no new economic ideas that involve sustainability and quality of life, rather than endless growth and consumption for the sake of it?
Steve Daley >> (All): Do you think domestic services and resellers really create value? I am ignoring internationally traded goods/services. Ireland has too many self-employed and small service businesses, which seriously impairs the opportunities for raising productivity. How would you restructuture the private sector to raise productivity?
Nollaig >> (All): What is the cost of credit to Irish business v Other Euro Area Countries and what can be done to bring this cost down What would you think of an electronic stock exchange for SME’s
Rory Mc Closkey >> (All): In the latest report on prices, we in Ireland are 30% more expensive than any other EU country, on average. What can be done to address this? To my mind prices have driven wages rather than the other way around as present dogma maintains.
john doyle >> (All): I read an article that Israel has the most start up companies aware in the world. What does Ireland need to do to compete with countries like Israel.
Steve Daley >> (All): So the explicit plans for structuring the economy in China are not something economists can imagine or transform for Ireland? This is short-sighted :%
Steve Daley >> (All): I think you’re missing the point about labour productivity. There are 2 ways to raise productivity, invest in new technology and processes or reduce wages. Your suggestion for jobs seems to only include the misery option.
DM >> (All): Do you think that the current “politicisation” of credit, i.e. politicians directing/pressuring banks to lend to meet credit targets is and will be a major problem over the coming years? Offices like the “Credit Review Office” are overturning bank decisions to extend credit for example. Politicians and bureaucrats cannot “pick and choose” sustainable investments, they’re likely instead to work for any voter/vested interest
Nollaig >> (All): I read that German SME’s put the suscessdown to 3 items 1. Access to cheap credit. This is why Germans dont want inflation becuase it raises rates. 2. Goverment are early adoptors of technology and inovation. 3. Access to highly trained people How can we do this here
jo >> (All): Were costs higher here due to the large increase in credit? (so loads of money/credit chasing too few goods) Now we still have the debts but the money supply contracting!!!
Steve Daley >> (All): Sorry, I think your living on cloud cuckoo land. The notion that nerd startups will significantly provide jobs is ridiculous.
Rory Mc Closkey >> (All): Just to raise the question of prices again. Prior to the bust all we talked about was rip off Ireland. That is, exorbitant profits were reaped. Now it would appear never to have happened, there is absolute silence on it. Yet despite deflation over 3 years we are still 30% higher. Private sector doctors, vets, dentists, private sector insurance companies, oil companies, electricity prices raised falsely to make it more profitable for private companies to enter the market. Supermarkets that do not divulge profit levels in Ireland. Even the cheap supermarkets are 30% dearer than elsewhere in Europe. All appear to collude in price fixing.
DM >> (All): Steve Daley you’re living in cloud cuckoo land wanting to adopt a central planning style economy. The Chinese are heading for a major crash that will make ours look like a fairytale. They’re frantically trying to cool inflation now. How many increases in their interest rate have they had over the past 12 months??
Gavin Finlay >> (All): Re: capitalising on our culture. Isn’t this vital for the future success and sustainability of our tourist industry? Also, making our cities and environment beautiful. As u say – interesting, cool places to be. How important do you see tourism being in the future? Chinese & Indian middle-classes a potentially huge “market”?
Steve Daley >> (All): Where are the medium to large enterprises that can create thousands of jobs?
Joe Drumgoole >> (All): IDA is growing about 10k new jobs in the tech sector, but tech sector has 100% employment and every company I know has open slots. How do we create jobs in other sectors?
Nollaig >> (All): I think the best way to bring down prices is competition, If we look at where prices are still rising its in protected sectors like legal medical educational public transport how can we change this
Joe Drumgoole >> (All): Startups, bingo!
Joe Drumgoole >> (All): But startups are going to get screwed by the wage inflation caused by creatingt 10k new tech jobs in google et al.
DM >> (All): Is it just not “PC” to acknowledge the fact that in a dynamic economy some workers have to move into other areas of work? The government can’t guarantee a job for everyone in every sector, and they can only do more harm to the economy by attempting to disprove this! The number of unemployed now in the construction industry probably has something to do with a bubble we had recently, anyone heard of that?? 🙂
Steve Daley >> (All): US FDI is more keen to get a piece of the growth in Asia, so do we have the silver bullet of US firms to paper over the structural weaknesses of med-large enterprises here.
Stephen >> (All): Are those not the workers though that we want to spread around many startups rather than having one large tech company monopolise the market?karl >> (All): If you could make two taxation changes in the morning what would they be?
Nollaig >> (All): The other thing that Isreal has been sucessful in doing is benefiting for techology transfer from multinational localating there have we been good at that too?
David Hartery >> (All): what sectors would you say Ireland have a comparative advantage in? r&d? IT services?
karl >> (All): @nollaig a lot of their innovation comes from military R&D – don’t know that we can replicate that aspect of Israel’s performance!
DM >> (All): why does the new job have to be highly skilled or trained? 🙂