Why are we giving money to Ireland?

Scroll to see replies

Because Ireland played a game called "Who wants to be a tax haven?" and lost - consequently their economy is near collapse - which would have negative effects on a lot of other countries in Europe because they owe money to us.

Reply 21

mac_manutd

Original post by barnetlad

So in a nutshell it's a sort of self interest.

Absolutely, it's in our interests to help them and it's in their interests to be receiving these loans.

Reply 22

The_Male_Melons

Original post by i0smokey0i

Mmm its mad i know. And i agree labour were shocking,in my opinion British politics always seem mediocre, but more hope for this coalition than anything else; th eonly things i havent agreed with so far is; tuition fees; i see both sides but do think it unecessary and not at the level they are talking, the cuts to the military budget/the retarded way they have gone about it and finally they should have legalised cannabis; it would be so beneficial but alas too much deep set animosity towards the idea.

I admit, I can understand from the coalition side, the dilema and problems, they are facing.

With the military, due to Labour's illegal invasions, the UK, now has to be in Afghanistan. To be fair, Call me Dave did say he was planning on withdrawing troops. In some instances, it would have cost the UK more for cancelling old soviet projects than building it.
Personally the Lib Dem stance was far better. The UK isn't a big boy anymore and this needs to be recognised. I think the media and general public would think opposite. Sharing military with France is a good idea.

The tuition fees, in the minds of the coalition party was an easy target to make cuts. Obviously it is not an easy target, out of the whole savings budget, tuition fees were probably the most likeliest to be picked.

There are some tough decisions.

At least this coalition has used common sense. Apart from a few idiotic gaffes, Call me Dave and Vince Cable have gone to India, and China to get investment.
However, the biggest concern is whether London sees this investment or the North, Wales, Scotland or N.Ireland see these investments? There needs to be a lot of private investment outside London...

(edited 13 years ago)

Reply 23

theths

well, it is very much our problem, because ireland makes up a massive 6% of our exports
+ if they drag down the euro our exports will become generally very expensive to the entirety of the eurozone + their exports will be competitive so nobody would buy domestically made goods

nobody ever gives away 90-100 billion euros purely out of niceness.

Reply 24

Kevmeister

Original post by HJV

A tax haven? What? It's nothing to do with ****ing taxes, or tax rates, before someone says 'Corporate tax is only 12.5% whereas ours is xx'. It's banks lending money at will, then recession hit hard, people can't pay back what they borrowed - default, then the banks started losing money and haven't stopped.

Also, someone saying that the UK should take control of where this money is spent, yeah, that's not going to happen. Fight for sovereigny only to hand it over due to getting a loan? Good one. Look up what the **** a loan means.

Reply 25

Installation

We're not giving.
Also, do note how much exposure we have to their banks.

Reply 26

Fusion

The UK borrows at 1.5% and is lending at 5% = a handsome profit IF Ireland repays.

Reply 27

HJV

Original post by Kevmeister

Well surely having the biggest budget deficit in Europe (yes, it's even worse than Greece) and the third lowest corporate tax in Europe isn't a very viable combination... Of course there's the argument that raising corporate tax at this point would make the situation even worse (perhaps true) but if you were, let's say, a German taxpayer, would you not be annoyed at having to bail out a tax haven?

I can see why people are frustrated about this - Ireland attracts foreign companies in with a low corporate tax, and now when the government is out of money, other countries (with a higher tax and less attraction of foreign investment) are having to bail them out.

Reply 28

Kevmeister

Original post by HJV

Switzerland is a tax haven, Ireland is not. I think you're getting a tad mixed up in what a tax haven means. As for raising the corporate tax [which has played little part in Ireland's downfall] that is not an option. It is quite simply the main, if not the only, reason why companies such as Intel and Hewlett Packard have massive operations in Ireland. It is one of the things that will help the country get through this difficult period.....

As for Germans [other nationalities too] being frustrated about it, then they need to lobby their respective govts. to leave the Eurozone.