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Croke Park II preliminary Talks started today

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Comments

  • #4752
    Farmer Pudsey
    Registered Users, Registered Users 2 Posts: 6,326 ✭✭✭Farmer Pudsey


    Jawgap wrote: »
    GNP excludes FDI and that calculation does not take account of the effect of the pension levy.

    GNP also doesn't take account of MNC's repatriated profits on which tax can be or is paid here.


    If GNP is the correct way to measure and becnchmark all this why are all the targets specified against GDP? And do international organisations such as the OECD make wider use of GDP instead of GNP?

    In short in most countries there is little difference between GDP and GNP. However in Irelands case this is skewed by multinationals. Especially as we have targeted the tech and medical industry. Both of these have show there ability to not even pay the minimum level of cooperation tax.

    There are large multinationals only paying less than 5% cooperation in this country. I wonder what is the average rate in Ireland as opposed to elsewhere. The Golden Goose might not be as gilded as it was


  • #4753
    Jawgap
    Closed Accounts Posts: 20,297 ✭✭✭✭Jawgap


    Farmer Pudsey wrote: »
    In short in most countries there is little difference between GDP and GNP. However in Irelands case this is skewed by multinationals. Especially as we have targeted the tech and medical industry. Both of these have show there ability to not even pay the minimum level of cooperation tax.

    There are large multinationals only paying less than 5% cooperation in this country. I wonder what is the average rate in Ireland as opposed to elsewhere. The Golden Goose might not be as gilded as it was

    That's all both true and well known, but it still doesn't answer the question of why GDP is used by the Commission, the IMF and the ECB when they discuss our economic situation and why the targets are all couched in GDP.

    One of the problems with GNP is that it measures activity outside the country, in other words which ever measure you pick brings it's own problems, but given that the Troika are talking about GDP, it seems a bit of a waste of breath arguing about GNP.


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