Less tax from Big Tech worse threat than job cuts, Goodbody says

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'The bigger risk from this [tech sector retrenchment] stems from the expected fall in tax revenues as profitability wanes,' Goodbody analysts said, referring to the outsize impact on Ireland’s corporate tax take of a handful of multinationals.

The report says that the crossover of those companies that have announced job cuts globally and those with operations in Ireland is quite limited to date.

On the broader economy, it says modified domestic demand – considered the most accurate measure of the performance Ireland’s very open economy – is now expected to slow to 0.7 per cent in 2023, down from 5.6 per cent in 2022. But it says Ireland can avoid the recession that threatens the wider euro zone and the UK “due to a record household savings haul and the ability for Government supports due to the best budget position in the euro zone – Ireland’s ‘war chests’”.

 

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Oh yeah, the tens of thousands of people that immigrated from India and the likes won't be a problem at all... immigration rules in Ireland are just too loose. IrelandIsFull

Perhaps the Irish govt' should do some more sucking-up to the worldview of these Californian hippies? Drop the voting age to 12? Put polyamorous relationships into the Constitution? Make bi-sexuality mandatory? They need to show that '2015' eagerness again!

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Tech lay-offs and rising interest rates create chilly environment for Irish property investorsSignificant write-downs in the value of Irish commercial property seem inevitable this year as markets adjust to the changed macro-economic environment Crash V2.0 Great news for the working class of Ireland once the vulture funds keep building we will never be out the job 🤣🤣🙏
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