Monday, October 5, 2020

Hidden in plain sight! Why we need public banks for Ireland

Hidden in plain sight! 

91,000 FDI jobs created, funded by the tax payer 

and 135,000 existing jobs lost

"Eoin Burke Kennedy scripted an article, published in the Irish Times, recently. The article deals with a recent Central Statistics Office, CSO report. We should be very grateful for that article, for what it says and for what it hides in plain sight.

The CSO’s report showed that 383,000 jobs, in Ireland, are directly linked to Foreign Direct Investment (FDI), an increase of 28% or 84,000 between 2012 and 2018. Most readers would say fantastic and well done. 

Lifting the bonnet a little, we see that the manufacturing sector has 94,000 FDI jobs and the retail sector is the second largest, at 91000 jobs. 

However, to say that these 91,000 retail jobs were ”created” would hide from the innocent reader that these 91,000 were at the expense of approx 135,000 jobs already retailing Ireland. 

Ask yourself and your TDs and ministers if 91,000 FDI jobs were funded by you, the taxpayer, to replace approx 135,000 jobs? 

The net benefit to us all is seriously questionable. It must be assessed alongside the loss of so many small family/retail businesses.

When you wonder why we have so few small family businesses and small traders in our streets? “FDI retail” has those jobs, while your children and grandchildren, whom you ‘educated’, are in the US, Australia and Canada."

James Miller full article

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