| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

Analysis/Comment Last Updated: Aug 23, 2010 - 8:24:15 PM


"Thought Leaders" discuss Ireland’s competitiveness; Gormley says country "staring into an economic abyss"
By Michael Hennigan, Founder and Editor of Finfacts
Oct 29, 2008 - 7:07:19 AM

Email this article
 Printer friendly page
 
A Chinese dragon dance at the 17th Century Royal Hospital, Kilmainham, Dublin - - which on Tuesday hosted a talking shop of 120 "thought leaders" on competitiveness. It was carrying on a long tradition of Irish actionless action and there was little fear of slaying any dragons or vested interests!

The National Competitiveness Council announced on Tuesday that over 120 of Ireland’s economic and business policy "thought leaders" were meeting to discuss the key competitiveness challenges currently facing the Irish economy. On Tuesday night, Green Party leader and Minister for the Environment John Gormley warned that the country was"staring into an economic abyss."

"Before Christmas, we are looking at further drops in revenue," Gormley told reporters."If that happens, we are in a situation where most of us will have to face up to responsibilities. That means everybody, everybody in the public sector and the politicians."

Leaving aside the borrowing of the pompous term "thought leaders" from the "think outside the box" people, there is a common thread between the NCC's talking shop at the Royal Hospital in Kilmainham, Dublin, "to analyse Ireland’s current performance and develop policy actions to improve our competitiveness" and Gormley's warning two weeks after the Budget, that the estimates of revenue are wrong.

The time for action is long overdue.

We've had a surfeit of reports, reviews, working parties, consultations,  new quangos and so on for more than a decade but as with the cart-before-the horse Budget, leadership and determined action  is still missing.

There was a report in 1996 produced by a review group on the Constitution, under the chairmanship of TK Whitaker, which recommended a partial list system for the Dáil, that at least would have the potential of improving the quality of candidates for ministerial office. The report was ignored.

In 2000, the then Taoiseach Bertie Ahern asked the same Committee on the Constitution to examine the issue of land rezoning. In 2004, it concluded that Mr Justice Kenny's recommendations in 1973 that development land costs should have a ceiling of 25% above the agricultural land value, could be introduced by legislation, and without amending the Constitution. Two-and-a-half years later, Ahern said that he was hopeful "we can do it by legislation."He was awaiting a final report from the Attorney General and he left office, still waiting.

Actionless action has been a substitute for inaction.

Gormley left the cat out of the bag when he signalled that the necessary cojones to take action, will only materialise in response to a worsening of the crisis. But the response then is only likely to be a band-aid one and not coherent reform.

Last April's OECD report on the public sector has not been binned only because the property tax spigot has almost gone dry. However, the response has been typically glacial on rationalising public services and could not be finalised to present on Budget Day.

As for a cross section of senior representatives from the business community, trade unions, the public sector and education, which gathered to discuss  Ireland's competitiveness, what is required is clear - - but it is not the hodge-podge of a talking shop. Political backbone is the missing ingredient.

We covered this issue earlier this week: Irish Economy: Proposals on developing coherent policy action to deal with the economic emergency

Chairman of the National Competitiveness Council, Dr. Don Thornhill said on Tuesday“This conference seeks to stimulate the conversation about the current challenges and potential opportunities, and inform the development of policy recommendations from the NCC to the Government. We wish to use this opportunity for clear thinking about implementing actions and reforms to support our long-term competitiveness. We did it before. During difficult times in our past when resources were scarce, we took courageous steps and tackled significant reforms that have delivered for Ireland. We need to develop the collective capacity to do this again. This will not be easy. Addressing the current challenges places heavy demands on leadership. It will also require consensus building on key actions which must be informed by analysis, reflection and an evidence-based debate.”

This event on Tuesday was addressed by Mary Coughlan TD, Tánaiste and Minister for Enterprise, Trade and Employment and Deborah Wince-Smith, President of the US Council on Competitiveness.

Coughlan didn't issue a transcript of her address but it's safe to assume, it was the usual cocktail of platitudes.

Nothing can be achieved without action from politicians with backbone.

Every year, the NCC makes useful recommendations on competitiveness but they are invariably ignored.

Every vested interest has its sacred cows and for example, when IBEC, the principal Irish business representative group, opines on  the issue of competitiveness, its focus is generally on wage levels and the public sector. However, it is selective even in the area where it has freedom of action from its diverse membership. A year ago this month, when the Secretary General of the Department of the Taoiseach and his retired predecessors were recommended 25% pay hikes and the Dublin City Manager got a 36% increase after 18 months on the job, IBEC had nothing to say.

Related Articles


© Copyright 2010 by Finfacts.com

Top of Page

Analysis/Comment
Latest Headlines
Dr. Peter Morici: Jobs deficit lays bare failure of Obamanomics
Dr. Peter Morici: Does either party deserve to win in November?
Cyclist John Gormley defends tax-free expenses of €200,000
Dr. Peter Morici: Fixing the US economy
Dr. Peter Morici says extend the Bush tax cuts for all taxpayers
Dr. Peter Morici: Obama and Pelosi’s reckoning
What to do if the Irish Revenue selects your business for audit
Dr. Peter Morici: Quarterly Forecasts; US slow growth or double dip?
What Euro crisis?
Irish Economy Post-Crisis: Significant change? Glacial change? More of the same?
Ireland's business-as-usual professional fee 'cartels'
Dr. Peter Morici: US Economy; A double-dip or off the cliff?
G-20 Summit: Does the developing world hold the key to building a stronger global economy?
Ireland and leaving the Euro: 10 questions for pub-stool economists
World Cup: A win for FIFA and likely loss for South Africa
Conservative Ireland rules despite the economic crash and its terrible human toll
Charlie McCreevy awarded gold medal; What should be the prize for failure: a wooden nickel?
Irish Banking Crash: Cowardice a common trait among the damned "best and brightest" but cowards are usually the winners
Dr. Peter Morici: US trade deficit in April to show little progress; Blocks recovery and destroys jobs
Business models of debtor states have collapsed; Germany's banks switch from exporting capital to domestic support
Dr. Peter Morici: Deception, Delusion and Abuse
Dr. Peter Morici: Time is running out for President Obama
Dr. Peter Morici: Strong US jobs report expected
Ireland, Eamonn Gilmore and free lunch economics
Dr. Peter Morici: Lessons from Greece for the United States
Dr. Peter Morici: The not so great US economic recovery
Dr. Peter Morici: US stocks poised for big rally
Dr. Peter Morici: Why gold prices are soaring
Dr. Peter Morici: US economy adds 290,000 jobs but unemployment jumps to 9.9%
The Euro is a success; Free lunch yet to be invented
Dr. Peter Morici: Friday’s US jobs report
China and the new challenges for inward FDI investment - - Prof. Seamus Grimes, Shanghai
Dr. Peter Morici: Friday’s GDP report - - an anti-middle class recovery
American Divide: Wall Street and Main Street
Dr. Peter Morici: Derivatives!
Goldman Sachs and its Trojan Horse CDOs
Dr. Peter Morici: US trade deficit burdens economic recovery
The Quinn Group and a known unknown
Irish Economy: Ahern, Harney, McCreevy, Cowen and the other individuals/groups with responsibility for the economic crash
Dr. Peter Morici: US Stocks prices get recent boost and the Dow is heading for 12,000 by year-end