Wednesday, July 13, 2016
Irish Fantasy 26% Growth
Irish GDP for 2015 has been revised upwards from 7.8% to a whopping 26.3%.
Has the Celtic tiger got a new bounce in its tail, or are these figures utter BS?
The FT clarifies the mystery, it's all to do with inversions (where tax avoiding foreign companies pretend that they are based in Ireland). More specifically it's to do with statistical reclassifications relating to the treatment of inversion deals involving US multinationals, purchases by aircraft leasing firms and companies relocating assets to Ireland.
So what was the real GDP growth for 2105?
There are lies, damned lies and statistics!