North West loses out in IDA's record year
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The IDA figures show yet again how the North West has
been overlooked in terms of economic and
infrastructural development
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1988 was a record year for the IDA. Even taking into
account the 1,400 jobs that will be lost in Seagate
15,170 new jobs were created, bringing the total number
of IDA-backed jobs in the 26 Counties to 107,600.
IDA chief executive Kieran McGowan described the
results as being ``significantly stronger than in any
previous year''. This however is not the case in the
North West which ended 1997 in a worse position in
terms of jobs and IDA-supported companies.
At the end of 1998 there were 279 IDA-supported
companies operating in the North West border region
which stretches from Cavan to Donegal, 18 less than in
1996. The total employment from IDA-backed companies in
the region at the end of 1997 was also down on 1996.
There were 6,936 jobs in 1997 compared to 6,947 in
1996.
Sinn Féin TD Caoimhghín O Caoláin told An Phoblacht
that he found the figures ``hugely disappointing''. He
said ``The IDA figures show yet again how the North West
has been overlooked in terms of economic and
infrastructural development. The figures show huge
advances in employment levels for the Eastern and
Western regions. I do not begrudge them their success
but the special developmental difficulties of the
border regions must be recognised.
``What is needed is for a funded development plan led by
the local communities that make up the border regions
and know better than anyone what is needed to develop
their local economies''.
We contacted the IDA where a spokesperson told us that
``the pressure is on the IDA to keep a focus on the
North West''. The problems in the area were, he said,
the lack of a proper road and transport structure as
well as question marks over the potential supply of
skilled labour.
O Caoláin described the road structure in Cavan as
``archaic'' and said that good arguments could be made
for the development of a third level institution of RTC
status in the Cavan/Monaghan region.
The IDA had in the last year reorganised its approach
to the North West and North East regions. It was
piecing together more viable sites for development but
their spokesperson pointed out that ``we cannot make it
happen on our own. There has to be development action
by everybody''.
Caoimhghín O Caoláin responded by saying that ``There
must a policy initiative involving all arms of the
state which will create a programme of positive
discrimination to correct the imbalances inflicted on
the border economies by partition and the complacency
of successive governments''.
sbacher key to Golden Circle
Finally this week, after years of institutional neglect
and months of avoidance, some minor action was taken
against the Ansbacher 15 whose £38 million hoard hidden
in offshore bank accounts was exposed in last years
Dunnes Payments to Politicians Tribunal.
Some of the original account holders have had their
deposits frozen until Irish Intercontinental Bank
(IIB), who now administer the accounts, ascertain
whether the funds are liable for Deposit Interest
Retention Tax. Most of the £38 million publicised in
the McCracken Tribunal report has already been moved.
This followed publicity created by the disclosure that
Irish residents were using the accounts as part of an
``ingenious system'' which allowed the account holders to
have access to offshore funds without any record
existing in Ireland of the multimillion pound deposits.
In a separate development, findings by the Central Bank
of possible breaches of exchange control by the
Ansbacher account holders has been referred to the
Director of Public Prosecutions by Finance minister
Charlie McCreevy.
Last week Sinn Fein TD Caoimhghin O Caolain supported
an opposition motion in Leinster House calling for
extended terms of reference for the new Moriarty
Tribunal which would allow this tribunal to investigate
the Ansbacher accounts.
O Caolain said, ``Without investigation of the Ansbacher
accounts the tribunal would be discredited from day
one. The general public knows that the issue here has
moved far beyond the financial dealings of one person.
What ought to be under scrutiny is the shady dealings
of the Golden Circle at the pinnacle of Irish society
who are unwilling to pay their fair share of tax.''.
The motion calling for the extended terms of reference
will be debated next Wednesday 28 January.
Low spenders
Here's an interesting question. Which European Union
government has the record of being the lowest public
spender? The Dublin Government comes out on top. A new
Eurostar report shows that in 1995 Dublin Government
spending accounted for only 40.9% of Gross Domestic
Product (GDP)
The EU average was 48.5% of GDP. The Swedish government
were the highest spenders splashing outs spending
totalling 65.1% of GDP. So the next time someone talks
about high levels of public sector spending point to
the real truth that the 26 County economy is one of the
lowest spenders not only in the EU but in the
industrialised world.
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