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It was fine as far as I recall, probably the same stuff as in the supermarket brands. Guess it never made sense to focus on exports since as a highly industrial
by laurencerowe 3y ago
It was fine as far as I recall, probably the same stuff as in the supermarket brands. Guess it never made sense to focus on exports since as a highly industrial economy Britain imports almost half of its food.
Agriculture is only 0.7% of Britain's economy compared to 5.7% in New Zealand, 4.5% in Denmark, and 1.2% in Ireland (though Irish GDP in reality maybe 40% lower since multinationals tend to report income there for tax benefits, so 2% may be a better estimate.)
- ksec 3y agoI think UK is not that much difference in that a lot of the GDP actually goes to finance. Although probably not as dramatic as 40%. But still, yes Arg is a rather week sector in UK.
- laurencerowe 3y agoFinancial services are a big part of the UK economy but the lawyers and bankers get paid and then spend money in the UK. Ireland’s very low corporate tax rate makes it attractive for multinational companies to structure their operations so that earnings are booked in the country even though little in the way of work is done there (perhaps through intellectual property charges.) This is only viable for a small country like Ireland because it can attract a proportionately larger amount of earnings with its low tax rate.