Enough central bank jazz hands…
Paul Mason
7912

“Even if they do that fairly — not in the way Ireland does by designing offshore tax loopholes into its offer — that will squash the North of England geographically between Ireland and Scotland both competing for growth.”

Ireland is a tiny country — its entire labour force (2 m) is a good deal smaller than the total population of Greater Manchester (2.7 m); it has no natural resources; and, what’s more, it must (I repeat, must) pay down its considerable sovereign debt and fund its fiscal deficits through taxation and the issuing of bonds. This last point is crucial, since it means that, unlike the UK,the Irish state can actually go broke. And if it did,who among our EU “partners” would shed a tear? I can’t think of one.

Thus, in this “all against all” farrago that is neo-liberalism, Ireland would be utterly stupid to adopt anything like a principle of fairness in its dealings in the marketplace. If it did, we, the Irish people, would soon be lying in the ditches again with grass juice trickling from our mouths.

Of course, you know that only too well, Paul. And you are also well aware that the UK’s rentier/financial services economy does not make for a good ground from which to prate about fairness. Still, you can’t help sticking the boot in, which is both disappointing and unbecoming.

Also, I’d ask that you at least take some care with your rhetoric: Ireland’s corporation tax was set at 12.5% in 2003, and it hasn’t changed since then; our policymakers do not sit in darkened rooms “designing tax loopholes”, as you’d have your readers believe.

I’ve no doubt that your heart is in the right place, Paul; but your position isn’t advanced by using invective against states that are significantly worse off than the UK and certainly not more immoral than it.