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What probably will transfer to Dublin is large assets on balance sheets distorting our GDP figures still further. Perhaps more profits will be declared here boosting our Corporation tax take, but that could be the height of our benefits.
What no one is talking about is all the smaller and medium UK businesses in other industries which require access to the Single Market for either their inputs or sales. They are probably taking a more "wait and see approach" because shifting plant is no trivial exercise and they don't have the same corporate planning resources in any case.
However I could see a real panic developing if a hard Brexit takes place and tariff and non-tariff barriers are set up particularly in high tariff industries like food. Some very rapid re-locations of some parts of UK businesses to Ireland and Irish Businesses to UK could be required to facilitate continues market access and reduced tariffs.
Ireland would be ideally placed to pick up such smaller businesses as many may not have much in the way of foreign language skills. Also there is no need for them to be located in the greater Dublin region, so infrastructural constraints need not apply.
There is a lot of under-utilised labour and facilities capacity in more rural Irish towns which could benefit a lot from even a 50 job business moving in. US FDI has been primarily large, knowledge intensive industries requiring access to large skilled workforces that can only be found in large urban centres. Smaller UK FDI in non-financial industries could have a proportionately far more beneficial social impact even where their contribution to GDP isn't very significant.
Index of Frank's Diaries
by Frank Schnittger - May 17 63 comments
by IdiotSavant - May 15 4 comments
by Oui - May 15 38 comments
by ATinNM - May 22 6 comments
by gmoke - May 17
by Frank Schnittger - May 4 19 comments
by Oui - May 9 6 comments
by Frank Schnittger - May 5 16 comments
by melo - May 23
by ATinNM - May 226 comments
by gmoke - May 17
by Frank Schnittger - May 1763 comments
by Oui - May 1538 comments
by IdiotSavant - May 154 comments
by Oui - May 101 comment
by Oui - May 96 comments
by Oui - May 75 comments
by Frank Schnittger - May 516 comments
by Frank Schnittger - May 419 comments
by Frank Schnittger - May 334 comments
by Oui - May 214 comments
by Frank Schnittger - Apr 3016 comments
by Frank Schnittger - Apr 306 comments
by Oui - Apr 289 comments
by Frank Schnittger - Apr 2849 comments
by Oui - Apr 271 comment
by Frank Schnittger - Apr 2512 comments
by Frank Schnittger - Apr 2257 comments