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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 - Sep 21 49 comments
by Frank Schnittger - Sep 19 16 comments
by IdiotSavant - Sep 18
by Oui - Sep 21 10 comments
by Oui - Sep 17 18 comments
by Frank Schnittger - Sep 14 18 comments
by IdiotSavant - Sep 13 5 comments
by fjallstrom - Sep 8 16 comments
by Oui - Sep 221 comment
by Oui - Sep 2110 comments
by Frank Schnittger - Sep 2149 comments
by Oui - Sep 191 comment
by Frank Schnittger - Sep 1916 comments
by Oui - Sep 18
by Oui - Sep 1813 comments
by IdiotSavant - Sep 18
by Oui - Sep 1718 comments
by Oui - Sep 1411 comments
by Frank Schnittger - Sep 1418 comments
by IdiotSavant - Sep 135 comments
by Oui - Sep 133 comments
by Oui - Sep 12
by Oui - Sep 104 comments
by Cat - Sep 104 comments
by gmoke - Sep 103 comments
by fjallstrom - Sep 816 comments
by Frank Schnittger - Sep 454 comments
by Oui - Sep 45 comments