Is NI economy going broke?

Indo77

wanchai wrote: »

Exactly. People do not trust the media or the politicians, we can work out for ourselves what is going on. We are smarter than our 'leaders' give us credit for.

I tend to agree with this. Some of the stories that appear on the main national BBC news are simply non-stories that get over reported at the expense of real issues such as the economy and the Euro crisis. The media last week was drowned in the Liam Fox affair almost ignoring the worldwide protests on October 15th against greed. 3 years ago I would have said I could have trusted what appeared in the news, not anymore. In saying that I don't think our own local news is as bad in this respect probably because we are a small piece of land.

chunter

http://www.bbc.co.uk/news/uk-northern-ireland-15377610

"227,000 public sector workers in Northern Ireland"

If you want to fix Northern Ireland, here's where you start.
What percentage is That of the working population?

saverbuyer

Mistral001 wrote: »

Good points. But what are VIs ?

Vested Interests. People who have an interest in saying things happen one way or another. Usually their livlihood depends on it. So for house prices and increased house building it would be EAs or arcitucets who would be VIs.

Mistral001

Saverbuyer and chunter

I agree that it is very hard to get find out what is going on in the economy by watching TV or listening to the radio. The local papers do make an attempt, but many of them still are drawn to the bright lights and tend to follow the TV and radio journos.

In NI at the minute, if you watch the local TV often you may be tempted to think that the only important job is one which has been grant-aided. Why? Because the jornalists have been given a photo opportunity of a government minister making a speech at the launch of the 25 new jobs in some shinny new office paid for by you and me which will probably close down in a few years time anyway. The reporters, bless them as they really believe they are doing a got job, will only have to travel down the street and they have gotten at least 2 minutes a clip where all the boxes are ticked.

However, what is happening in the real economy here? There are jobs being produced, but they are in places where few jounos are interested in going. Because government funding has not been given there is no photo opportunity of a government minister. So few boxes ticked.

There are small and big here firms which are UK leaders in their field and some are expanding. You only have to look the Times rich list to find some of them. Most you have never heard of in the TV or radio. Large pharmaceutical companies, bus manufacturers, concrete product manufactuers, plactics companies, bicycle parts distributers.

steveymp

chunter wrote: »

http://www.bbc.co.uk/news/uk-northern-ireland-15377610

"227,000 public sector workers in Northern Ireland"

If you want to fix Northern Ireland, here's where you start.
What percentage is That of the working population?

4,000 jobs have gone in the past year, mainly by natural wastage and retirements, I do agree a lot more have to go and will go, but also remember the 223,000 jobs earning a wage also help keep the economy afloat here too.

Public Sector is the biggest employer in our wee country by a long way, but the failure to attract new manufacturing and service industries in recent years as outlined by Invest NI not spending their budget is worrying Tourism is not being pushed enough, but with a world recession things will get worse before they get better.

saverbuyer

Mistral001 wrote: »

Saverbuyer and chunter

I agree that it is very hard to get find out what is going on in the economy by watching TV or listening to the radio. The local papers do make an attempt, but many of them still are drawn to the bright lights and tend to follow the TV and radio journos.

In NI at the minute, if you watch the local TV often you may be tempted to think that the only important job is one which has been grant-aided. Why? Because the jornalists have been given a photo opportunity of a government minister making a speech at the launch of the 25 new jobs in some shinny new office paid for by you and me which will probably close down in a few years time anyway. The reporters, bless them as they really believe they are doing a got job, will only have to travel down the street and they have gotten at least 2 minutes a clip where all the boxes are ticked.

However, what is happening in the real economy here? There are jobs being produced, but they are in places where few jounos are interested in going. Because government funding has not been given there is no photo opportunity of a government minister. So few boxes ticked.

There are small and big here firms which are UK leaders in their field and some are expanding. You only have to look the Times rich list to find some of them. Most you have never heard of in the TV or radio. Large pharmaceutical companies, bus manufacturers, concrete product manufactuers, plactics companies, bicycle parts distributers.

I agree with most of what you're saying. Particulary the bit about grant aid. I think the fact is we have few stories to fill the business news because we have little business.

I'm disappointed to say that when I look at the rich list all I debt is property developer this and that. Debt has become wealth in NI. We put more wealth in someone who buys a large shop (in the form of a shopping centre) and does nothing but rents it out than small exporters.

We have had some success stories but with a public sector of 215K not enough to fill the pages.

saverbuyer

steveymp wrote: »

4,000 jobs have gone in the past year, mainly by natural wastage and retirements, I do agree a lot more have to go and will go, but also remember the 223,000 jobs earning a wage also help keep the economy afloat here too.

Public Sector is the biggest employer in our wee country by a long way, but the failure to attract new manufacturing and service industries in recent years as outlined by Invest NI not spending their budget is worrying Tourism is not being pushed enough, but with a world recession things will get worse before they get better.

Public sector jobs do not create money/wealth. They spend money other private sector people have paid in taxes. The public sector doesn’t technically pay taxes.

To rebalance our economy we really need to let large numbers go. The small private sector can't afford to subsidise them. It is after all the biggest recession in history.

steveymp

saverbuyer wrote: »

Public sector jobs do not create money/wealth. They spend money other private sector people have paid in taxes. The public sector doesn’t technically pay taxes.

To rebalance our economy we really need to let large numbers go. The small private sector can't afford to subsidise them. It is after all the biggest recession in history.

Public Sector jobs put more into the economy than having people on the Dole:o

I totally agree, and always have said that PS jobs have to go, I'm a PS worker and see first hand the over employment and wastage that occurs in the Health Service every day, don't get me started on Councils or Civil Service :mad:

With the World recession and China producing everything for 1/3 the cost of anywhere else, manufacturing will NEVER return to this country, we have to attract Service, IT, Research and Tourism.

saverbuyer

I'm not sure it is better than having people on the dole. I'd rather pay £65 per week for people on the dole than ten's of thousands a year for a public sector workers and their sick days.

Mistral001

steveymp wrote: »

Public Sector jobs put more into the economy than having people on the Dole:o

I totally agree, and always have said that PS jobs have to go, I'm a PS worker and see first hand the over employment and wastage that occurs in the Health Service every day, don't get me started on Councils or Civil Service :mad:

With the World recession and China producing everything for 1/3 the cost of anywhere else, manufacturing will NEVER return to this country, we have to attract Service, IT, Research and Tourism.

I think you are about 5 years behind. China have increased their prices. Also, IT, Research and tourism? They were are all hailed 5 to 10 years ago as our saviours. Sectors have long since peaked as far as I can see, and now that the South has become more competitive with regard to tourism that is another factor.