Youtube comments of Terry Jago (@terryj50).
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not true france is still below the uk
1 United States America 27,974
2 China Asia 18,566
3 Germany Eurpoe 4,730
4 Japan Asia 4,291
5 India Asia 4,112
6 United Kingdom Europe 3,592
7 France Europe 3,182
8 Italy Europe 2,280
9 Brazil America 2,272
10 Canada America 2,242
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@ Here is the annual GDP growth rate for the United Kingdom from 2007 to 2024:
Year GDP Growth Rate (%)
2007 2.6
2008 -0.2
2009 -4.6
2010 2.2
2011 1.1
2012 1.5
2013 1.8
2014 3.2
2015 2.2
2016 1.9
2017 2.7
2018 1.4
2019 1.6
2020 -10.3
2021 8.6
2022 4.8
2023 0.4
2024 0.9
These figures indicate the percentage change in the UK's Gross Domestic Product (GDP) compared to the previous year. The data from 2007 to 2022 is sourced from the Office for National Statistics (ONS)
OFFICE FOR NATIONAL STATISTICS
, while the 2023 and 2024 figures are projections from Statista
STATISTA
.
Notable periods include the significant contraction in 2009 during the global financial crisis, a sharp decline in 2020 due to the COVID-19 pandemic, followed by a rebound in 2021. The projected growth rates for 2023 and 2024 suggest a modest recovery.
For the most current and detailed statistics, you can refer to the ONS
OFFICE FOR NATIONAL STATISTICS
and Statista
STATISTA
websites.
Sources
You said:
Can you give me this and how much the uk has grown in year 4 years from 2007
ChatGPT said:
Here’s the UK’s year-by-year GDP growth from 2007 onwards, along with the total growth over each four-year period:
UK GDP Growth by Year (%)
Year Growth Rate (%)
2007 2.6
2008 -0.2
2009 -4.6
2010 2.2
2011 1.1
2012 1.5
2013 1.8
2014 3.2
2015 2.2
2016 1.9
2017 2.7
2018 1.4
2019 1.6
2020 -10.3
2021 8.6
2022 4.8
2023 0.4
2024 0.9 (est.)
UK Growth Over Each 4-Year Period
To calculate total GDP growth over each four-year period, we use the compound growth formula:
Total Growth
=
(
∏
(
1
+
Annual Growth Rate
100
)
)
−
1
Total Growth=(∏(1+
100
Annual Growth Rate
))−1
Here are the results:
Period Total Growth (%)
2007-2010 0.0%
2008-2011 -1.6%
2009-2012 -1.0%
2010-2013 6.7%
2011-2014 7.8%
2012-2015 8.9%
2013-2016 9.4%
2014-2017 10.3%
2015-2018 7.5%
2016-2019 8.0%
2017-2020 -5.2%
2018-2021 0.7%
2019-2022 3.7%
2020-2023 2.8%
2021-2024 15.2% (est.)
Key Observations
The 2007-2010 period saw almost zero net growth due to the financial crisis.
From 2010-2019, the economy grew steadily, with each four-year period showing around 7-10% total growth.
The 2017-2020 period was hit hard by COVID-19, leading to negative growth.
2020-2023 showed a slow recovery from the pandemic.
2021-2024 has the highest projected growth at 15.2%, driven by the post-COVID recovery.
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@ The Worst Years for People in the UK (2007-2025)
The uk has been hit the hardest in the eu. People need to see the eu for what it is I’ll be glad when I pay no more money into the eu. All so thick people can move country.
Based on the data, the worst years for people in the UK were those when real wages declined significantly, GDP contracted, and inflation surged. These years include:
1. 2008-2013: The Financial Crisis Aftermath
Worst Year: 2009
GDP shrank by -4.2% (deep recession).
Wage growth fell to 2.1%, but inflation at 1.9% meant real wages barely grew.
Job losses, austerity measures, and rising unemployment.
Public services cut, and living standards declined.
2011-2013:
Real wages fell for three consecutive years (e.g., -2.1% in 2011).
Inflation remained high (above 2%), while wage growth was weak.
Living costs increased while wages stagnated.
2. 2020: The COVID-19 Pandemic
Worst Year: 2020
GDP crashed by -9.3% (worst since WWII).
Unemployment surged due to lockdowns.
Wage growth fell to 1.5%, barely keeping up with 1.0% inflation.
Businesses collapsed, and government debt soared.
3. 2022-2023: The Cost of Living Crisis
Worst Year: 2022
Inflation hit 7.9%, erasing all wage gains.
Real wage growth was 0.0%, meaning no improvement in purchasing power.
Food, energy, and housing costs soared.
Interest rate hikes increased mortgage and rent costs.
2023:
Inflation remained high at 6.8%, wages couldn't keep up.
Real wages were stagnant, leading to another year of hardship.
Overall Verdict: The Worst Years
2009 – Deep recession, job losses, and financial crisis impacts.
2011 – Inflation at 3.9%, real wages fell by -2.1%.
2020 – COVID-19 lockdowns caused economic collapse.
2022 – Cost of living crisis peaked, high inflation.
2023 – Continued economic pain, no real wage growth.
Final Thoughts
The worst periods were during the financial crisis (2008-2013), the pandemic (2020), and the cost of living crisis (2022-2023). These years saw declining real wages, rising unemployment, and increased financial stress for households. While some recovery occurred in between, these tough years highlight the challenges faced by UK citizens.
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@bartconnolly6104 The Economic Decline of the UK (1997-2016): The Impact of Mass Migration and Economic Policies
Abstract
Between 1997 and 2016, the United Kingdom underwent significant economic and social changes. This period, dominated by the Labour government under Tony Blair and Gordon Brown, saw substantial increases in immigration, particularly from the European Union (EU). The decision to allow immediate labor market access to citizens of new EU member states in 2004 had far-reaching effects, including increased pressure on infrastructure such as the National Health Service (NHS) and housing markets. While GDP growth remained steady, wage stagnation and inflation led to worsening living standards for many. Furthermore, low interest rates created the illusion of wealth while fueling asset price inflation, exacerbating economic inequality. This essay examines these factors in detail, providing a comprehensive analysis of the economic consequences of mass migration and economic mismanagement during this period.
1. Introduction
The UK’s economy in the late 1990s and early 2000s was characterized by strong GDP growth, low unemployment, and increasing globalization. Labour’s economic policies, including increased public spending and deregulation of financial markets, contributed to initial economic expansion. However, underlying structural issues—such as rising immigration, housing shortages, and growing public service demands—began to surface. This essay explores how these factors interacted to contribute to the UK’s long-term economic decline.
2. Immigration Trends and Policies (1997-2016)
One of the most significant policy decisions of the Labour government was the relaxation of immigration controls. In 2004, the UK chose not to impose transitional controls on workers from new EU member states, unlike many other EU countries. This resulted in a sharp increase in migration, particularly from Poland, Lithuania, and Romania.
2.1 The Scale of Immigration
In 1997, net migration to the UK was approximately 48,000.
By 2004, net migration had risen to 268,000.
By 2015, it reached 333,000, with EU nationals comprising a significant proportion.
2.2 Economic Justifications and Realities
Labour’s justification for mass migration was that it would fill labor shortages, particularly in low-skilled jobs. While this did contribute to economic growth, it also had several unintended consequences:
Wage suppression: Increased competition for low-skilled jobs led to stagnation in wages, particularly for working-class Britons.
Public service strain: More people using the NHS, schools, and social housing led to resource constraints.
Housing demand: An influx of new residents intensified the housing crisis, contributing to rising house prices.
3. Housing Market Dynamics
3.1 House Price Inflation
The UK housing market saw dramatic price increases during this period:
1997: Average house price was £75,000.
2004: £160,000 (113% increase from 1997).
2016: £206,000 (37% increase from 2004).
Despite increased demand, housebuilding lagged, leading to rising costs and making homeownership unattainable for many young people. The lack of supply was exacerbated by restrictive planning laws and an influx of foreign property investors.
3.2 The Role of Immigration
With hundreds of thousands of migrants entering the UK annually, demand for rental properties surged, particularly in major cities like London, Birmingham, and Manchester. This pushed rental prices higher, creating affordability issues for many residents.
4. National Health Service (NHS) and Public Services
The NHS, already struggling with funding issues, faced additional pressures due to increased demand from a growing population.
4.1 NHS Waiting Lists
1997: 1.3 million patients on NHS waiting lists.
2010: 2.5 million patients.
2016: Over 4 million patients, with waiting times for treatments exceeding 18 weeks in many cases.
While migration contributed additional NHS staff, demand outpaced supply, resulting in overcrowded hospitals and longer waits for care.
4.2 Schooling and Social Services
The surge in immigration placed significant strain on schools, particularly in areas with high migrant populations. Many schools struggled to accommodate the increased number of non-English-speaking students, necessitating additional resources.
5. Economic Indicators: GDP Growth, Wages, and Inflation
5.1 GDP Growth
The UK experienced relatively strong GDP growth from 1997 to 2008, followed by a sharp decline during the global financial crisis.
Year
GDP Growth Rate (%)
1997
3.5
2000
3.9
2004
3.0
2008
-0.5
2009
-4.2
2010
1.9
2016
1.9
Despite GDP growth in some years, many Britons did not feel the benefits due to stagnant wages and rising living costs.
5.2 Wage Stagnation
From 1997 to 2016, real wages grew at a much slower pace compared to previous decades.
Many workers in low-skilled jobs saw little to no real wage increases due to competition from migrant labor.
5.3 Inflation and Interest Rates
Inflation averaged around 2-3% per year but spiked to over 5% in 2011.
Low interest rates, set by the Bank of England, encouraged borrowing but fueled asset price inflation rather than benefiting workers.
6. Asset Inflation and Wealth Distribution
6.1 The Illusion of Wealth
Many people felt richer due to rising house prices, but this was an illusion, as real wages stagnated and cost-of-living pressures increased.
6.2 Winners and Losers
Winners: Homeowners and investors who benefited from rising asset prices.
Losers: Renters, young people, and those without significant financial assets, who found it increasingly difficult to afford housing.
7. The Role of the European Union
The EU’s freedom of movement policies allowed for increased migration, and the UK’s decision not to impose transitional controls exacerbated the effects.
7.1 Brexit and the Backlash
By 2016, dissatisfaction with economic inequality, mass migration, and housing unaffordability contributed to the Brexit vote. Many viewed leaving the EU as a way to regain control over immigration policies and address economic challenges.
8. Conclusion
The period from 1997 to 2016 was marked by significant economic changes. While Labour’s open-door immigration policies contributed to GDP growth, they also led to wage stagnation, housing shortages, and strained public services. Low interest rates fueled asset inflation, exacerbating wealth inequality. By 2016, dissatisfaction with these issues culminated in the Brexit referendum, reflecting widespread frustration with the economic status quo. Addressing these challenges requires a balanced approach to immigration, economic management, and housing policy to ensure sustainable growth and equitable wealth distribution.
9. References
Office for National Statistics. (2016). UK House Price Index.
NHS Digital. (2016). Hospital Waiting Times Statistics.
Bank of England. (2016). Historical Interest Rate Data.
Migration Observatory. (2016). Migration Trends and Impacts.
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@bartconnolly6104 The Economic Decline of the UK (1997-2016): The Impact of Mass Migration and Economic Policies
Abstract
Between 1997 and 2016, the United Kingdom underwent significant economic and social changes. This period, dominated by the Labour government under Tony Blair and Gordon Brown, saw substantial increases in immigration, particularly from the European Union (EU). The decision to allow immediate labor market access to citizens of new EU member states in 2004 had far-reaching effects, including increased pressure on infrastructure such as the National Health Service (NHS) and housing markets. While GDP growth remained steady, wage stagnation and inflation led to worsening living standards for many. Furthermore, low interest rates created the illusion of wealth while fueling asset price inflation, exacerbating economic inequality. This essay examines these factors in detail, providing a comprehensive analysis of the economic consequences of mass migration and economic mismanagement during this period.
1. Introduction
The UK’s economy in the late 1990s and early 2000s was characterized by strong GDP growth, low unemployment, and increasing globalization. Labour’s economic policies, including increased public spending and deregulation of financial markets, contributed to initial economic expansion. However, underlying structural issues—such as rising immigration, housing shortages, and growing public service demands—began to surface. This essay explores how these factors interacted to contribute to the UK’s long-term economic decline.
2. Immigration Trends and Policies (1997-2016)
One of the most significant policy decisions of the Labour government was the relaxation of immigration controls. In 2004, the UK chose not to impose transitional controls on workers from new EU member states, unlike many other EU countries. This resulted in a sharp increase in migration, particularly from Poland, Lithuania, and Romania.
2.1 The Scale of Immigration
In 1997, net migration to the UK was approximately 48,000.
By 2004, net migration had risen to 268,000.
By 2015, it reached 333,000, with EU nationals comprising a significant proportion.
2.2 Economic Justifications and Realities
Labour’s justification for mass migration was that it would fill labor shortages, particularly in low-skilled jobs. While this did contribute to economic growth, it also had several unintended consequences:
Wage suppression: Increased competition for low-skilled jobs led to stagnation in wages, particularly for working-class Britons.
Public service strain: More people using the NHS, schools, and social housing led to resource constraints.
Housing demand: An influx of new residents intensified the housing crisis, contributing to rising house prices.
3. Housing Market Dynamics
3.1 House Price Inflation
The UK housing market saw dramatic price increases during this period:
1997: Average house price was £75,000.
2004: £160,000 (113% increase from 1997).
2016: £206,000 (37% increase from 2004).
Despite increased demand, housebuilding lagged, leading to rising costs and making homeownership unattainable for many young people. The lack of supply was exacerbated by restrictive planning laws and an influx of foreign property investors.
3.2 The Role of Immigration
With hundreds of thousands of migrants entering the UK annually, demand for rental properties surged, particularly in major cities like London, Birmingham, and Manchester. This pushed rental prices higher, creating affordability issues for many residents.
4. National Health Service (NHS) and Public Services
The NHS, already struggling with funding issues, faced additional pressures due to increased demand from a growing population.
4.1 NHS Waiting Lists
1997: 1.3 million patients on NHS waiting lists.
2010: 2.5 million patients.
2016: Over 4 million patients, with waiting times for treatments exceeding 18 weeks in many cases.
While migration contributed additional NHS staff, demand outpaced supply, resulting in overcrowded hospitals and longer waits for care.
4.2 NHS Funding and the Cost per Person
The NHS is funded primarily through taxation, and the cost per person is a key factor in evaluating its sustainability.
In 2016, the NHS cost approximately £4,000 per person per year.
A worker on minimum wage (£7.20 per hour in 2016) earning around £14,000 annually would pay approximately £1,800 in income tax and National Insurance.
This means that many low-wage workers, including a large proportion of new migrants, were not contributing enough in direct taxes to cover their healthcare costs, creating a funding gap.
This imbalance required additional contributions from higher earners or government borrowing, placing strain on public finances and contributing to economic instability.
4.3 Schooling and Social Services
The surge in immigration placed significant strain on schools, particularly in areas with high migrant populations. Many schools struggled to accommodate the increased number of non-English-speaking students, necessitating additional resources.
5. Economic Indicators: GDP Growth, Wages, and Inflation
5.1 GDP Growth
The UK experienced relatively strong GDP growth from 1997 to 2008, followed by a sharp decline during the global financial crisis.
Year
GDP Growth Rate (%)
1997
3.5
2000
3.9
2004
3.0
2008
-0.5
2009
-4.2
2010
1.9
2016
1.9
Despite GDP growth in some years, many Britons did not feel the benefits due to stagnant wages and rising living costs.
5.2 Wage Stagnation
From 1997 to 2016, real wages grew at a much slower pace compared to previous decades.
Many workers in low-skilled jobs saw little to no real wage increases due to competition from migrant labor.
5.3 Inflation and Interest Rates
Inflation averaged around 2-3% per year but spiked to over 5% in 2011.
Low interest rates, set by the Bank of England, encouraged borrowing but fueled asset price inflation rather than benefiting workers.
6. Asset Inflation and Wealth Distribution
6.1 The Illusion of Wealth
Many people felt richer due to rising house prices, but this was an illusion, as real wages stagnated and cost-of-living pressures increased.
6.2 Winners and Losers
Winners: Homeowners and investors who benefited from rising asset prices.
Losers: Renters, young people, and those without significant financial assets, who found it increasingly difficult to afford housing.
7. The Role of the European Union
The EU’s freedom of movement policies allowed for increased migration, and the UK’s decision not to impose transitional controls exacerbated the effects.
7.1 Brexit and the Backlash
By 2016, dissatisfaction with economic inequality, mass migration, and housing unaffordability contributed to the Brexit vote. Many viewed leaving the EU as a way to regain control over immigration policies and address economic challenges.
8. Conclusion
The period from 1997 to 2016 was marked by significant economic changes. While Labour’s open-door immigration policies contributed to GDP growth, they also led to wage stagnation, housing shortages, and strained public services. Low interest rates fueled asset inflation, exacerbating wealth inequality. By 2016, dissatisfaction with these issues culminated in the Brexit referendum, reflecting widespread frustration with the economic status quo. Addressing these challenges requires a balanced approach to immigration, economic management, and housing policy to ensure sustainable growth and equitable wealth distribution.
9. References
Office for National Statistics. (2016). UK House Price Index.
NHS Digital. (2016). Hospital Waiting Times Statistics.
Bank of England. (2016). Historical Interest Rate Data.
Migration Observatory. (2016). Migration Trends and Impacts.
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@bartconnolly6104 The UK's economic decline in relation to its membership in the European Union (EU) and subsequent withdrawal (Brexit) is a multifaceted issue. Several factors such as mass migration, lower wage growth, changes in industry focus, and EU policies contributed to the challenges faced by the UK in the years leading up to Brexit and after.
1. Mass Migration and Its Effect on Infrastructure:
Migration Patterns: Over the period of the UK's EU membership, immigration from Eastern Europe (especially countries like Poland, Romania, and Hungary) surged after the EU's enlargement in 2004. Between 2004 and 2016, net migration to the UK rose significantly, with around 2.5 million immigrants arriving from Eastern Europe alone by 2016.
Pressure on Infrastructure: Mass migration increased demand for public services, housing, healthcare, transportation, and education. The infrastructure, particularly in major cities like London, Birmingham, and Manchester, struggled to keep pace. While immigration provided economic benefits through taxes and labor force expansion, it also strained local services and housing markets, contributing to issues such as overcrowded schools and long waiting times for healthcare.
Housing Shortage: In 2015, a report estimated that 1.2 million new homes were needed by 2030 to meet the growing demand from both population growth and migration. However, housing construction remained insufficient, exacerbating the problem.
2. Lower Wage Growth:
Wage Stagnation: Despite economic growth, wage growth in the UK remained sluggish for much of the 21st century, particularly for low-skilled workers. Average wages grew by only 1.3% per year in real terms from 2008 to 2016, which lagged behind productivity growth. One key factor contributing to this stagnation was the large influx of low-wage workers from Eastern Europe, which increased competition for low-skilled jobs and put downward pressure on wages in industries like agriculture, construction, and hospitality.
Employment Shifts: The UK saw a shift from traditional industries like manufacturing to lower-wage service jobs. While this was partly due to automation and globalization, the EU's free movement of labor accelerated this transformation by providing a constant influx of workers willing to accept lower wages, which undermined wage growth, particularly in sectors where low-skilled labor was prevalent.
3. The Transformation to a Service Economy:
Deindustrialization: EU policies, particularly those related to competition and trade, encouraged the shift from a manufacturing-based economy to a service-based economy. For instance, EU competition rules and state aid regulations limited the ability of the UK government to provide subsidies to struggling industries, hastening the decline of manufacturing sectors like steel, coal, and textiles. The loss of manufacturing jobs, which were historically higher-wage positions, led to a reliance on lower-wage service sector jobs.
Trade Policy Impact: EU membership provided access to the single market, but it also exposed the UK to competition from low-wage economies within the EU, particularly in manufacturing. As a result, many UK manufacturers moved operations abroad or faced increased competition from cheaper EU-based goods, leading to the decline of the UK’s manufacturing base.
GDP Growth vs. Real Economic Impact: The shift to a service economy boosted GDP growth in terms of headline figures but created structural imbalances. While GDP growth remained around 2% per year, much of that growth came from the financial services, real estate, and other service sectors that were often low-wage or unsustainable in the long term. This created an economy reliant on consumption rather than production.
4. Decline of Agriculture and Food Security:
Agricultural Policies: EU agricultural policies, particularly the Common Agricultural Policy (CAP), played a role in reshaping UK farming. While CAP subsidies provided financial support to farmers, they also led to inefficiencies and a reliance on imported food. The UK’s agricultural sector became less competitive in global markets, as it focused on receiving EU subsidies rather than innovating or expanding exports.
Reduced Self-Sufficiency: Over time, the UK became more dependent on food imports, and by the time of Brexit, it was estimated that the UK sourced approximately 40-50% of its food from abroad. This dependency on imports raised concerns about the country’s food security, particularly if trade disruptions occurred, as was feared during the Brexit process.
Decimation of Small Farms: Smaller UK farms were often unable to compete with larger, heavily subsidized EU farms, leading to a decline in the number of small farmers. Between 2000 and 2016, the number of UK farms decreased by over 10%, and smaller, family-run farms struggled to survive due to competition from cheaper EU-produced goods.
5. EU Policies and the UK Economy:
Single Market and Trade Regulations: The EU's single market allowed for the free movement of goods, services, capital, and people, but this also created a highly competitive environment. For example, UK manufacturers faced increased competition from countries like Germany and Poland, which benefited from lower labor costs and robust EU subsidies. This contributed to the decline of the UK’s manufacturing sector.
EU State Aid and Competition Rules: EU rules on state aid and competition prevented the UK government from providing support to key industries like steel, coal, and shipbuilding. For instance, in 2015, the UK steel industry faced major challenges due to cheap imports from China and high energy costs. Despite the sector’s importance, EU competition rules restricted the ability of the UK government to offer targeted support, which led to plant closures and job losses.
Fiscal Contributions: The UK was a net contributor to the EU budget, paying more into the EU than it received in return. In 2016, the UK’s net contribution was estimated at £8.6 billion. Many critics of the EU argued that these contributions did not provide a sufficient return in terms of infrastructure, agricultural support, or investment in key sectors.
6. Economic Growth and Decline:
Growth Rate vs. Structural Issues: The UK’s growth rate averaged around 2% per year during much of its EU membership. However, this growth often masked deep underlying issues, such as the erosion of manufacturing, regional inequality, and stagnant wages for low-skilled workers. While the financial services sector thrived, much of the country’s industrial base deteriorated, and the services sector largely provided lower-paid jobs.
Impact of Globalization and EU Policies: EU membership exposed the UK to the forces of globalization, which led to cheaper imports but also undermined domestic industries. While some EU policies aimed at free trade and open markets benefited consumers through lower prices, they also weakened the competitiveness of domestic industries, particularly in sectors that were labor-intensive and low-tech.
Conclusion:
The UK's economic decline during its EU membership was the result of a combination of factors: mass migration that strained infrastructure, lower wage growth driven by an influx of low-skilled labor, EU policies that facilitated the transition to a service-based economy at the expense of manufacturing, and agricultural policies that made the UK increasingly reliant on food imports. While the UK experienced economic growth, it was often uneven and came with significant structural challenges that have had lasting impacts on its economy. The transition to a service economy, along with the decimation of its agricultural and manufacturing sectors, created vulnerabilities that became evident post-Brexit.
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@ The Reality of Ireland’s Economic Growth, Emigration, and Cost of Living in 2024-2025
Ireland’s economy has long been a subject of both praise and scrutiny. On paper, the country boasts strong economic indicators, with multinational corporations driving growth and government revenues reaching record highs. However, beneath the surface, many Irish citizens are struggling with rising living costs, a severe housing crisis, and economic disparities that make it difficult for the average worker to thrive.
This paradox has resulted in growing dissatisfaction, with thousands of people choosing to leave Ireland in search of better opportunities abroad. This article explores Ireland’s economic performance, the rising cost of living, and the reasons behind increasing emigration.
Economic Growth in 2024-2025: A Paradox
Ireland’s economy experienced a contraction of 0.5% in 2024, primarily due to volatility in the multinational sector. However, forecasts for 2025 suggest a GDP rebound of around 4%. On the surface, this would indicate a thriving economy, but these figures can be misleading.
Ireland’s GDP is heavily influenced by multinational corporations in sectors like pharmaceuticals, finance, and technology. These companies generate massive profits and pay substantial corporate taxes, but their influence can distort national economic figures. For instance, if a large multinational scales back operations or moves some activities elsewhere, GDP can decline significantly, even if the underlying domestic economy remains stable.
In the final quarter of 2024, GDP fell by 1.3%, raising concerns about the country's economic momentum. However, an alternative measure, Modified Domestic Demand (MDD), which focuses on household consumption and investment, showed a 4.1% increase year-on-year. This suggests that while headline GDP figures may look weak, the actual economy that affects ordinary Irish citizens remained strong.
Despite this, not everyone feels the benefits. The vast revenues generated by corporations do not always trickle down to workers, leaving many people struggling to keep up with rising living costs.
Why Are So Many People Leaving Ireland?
Emigration has long been a part of Ireland’s history, particularly during times of economic difficulty. However, in recent years, people have been leaving not because of job scarcity but because of affordability issues.
Between April 2023 and April 2024, around 34,700 Irish citizens emigrated, the highest number in almost a decade. Many of those leaving are young professionals, students, and families who find it increasingly difficult to afford housing and basic necessities.
The primary drivers behind this modern wave of emigration include:
The Housing Crisis
Ireland’s housing market has been in crisis for years, with average Dublin rents exceeding €2,000 per month for a one-bedroom apartment.
Homeownership remains out of reach for many young professionals, with property prices soaring due to limited supply and high demand.
Government efforts to increase housing supply have fallen short, and many people feel that moving abroad offers a better quality of life.
Rising Cost of Living
Inflation in Ireland has led to a 17% increase in basic living costs over the past four years.
Energy costs continue to rise, with SSE Airtricity announcing significant price hikes in 2025, increasing annual electricity bills by €171.55 and gas bills by €113.15.
Food, transport, and healthcare costs have also risen faster than wages, leaving many workers feeling financially squeezed.
Lack of Disposable Income
Despite Ireland’s impressive GDP, many people feel poorer due to rising taxation, stagnant wages, and higher everyday expenses.
While multinational corporations contribute significantly to tax revenues, these funds do not always translate into better public services or lower living costs for ordinary citizens.
Better Opportunities Elsewhere
Countries like Canada, Australia, and the United States offer more affordable housing and a lower cost of living relative to wages.
Many emigrants report that they can work fewer hours and still afford a better quality of life abroad compared to Ireland.
Is Ireland Becoming Poorer?
While Ireland as a country is wealthy, its wealth is not evenly distributed. A major concern is that economic success at the national level does not always translate into better living conditions for ordinary people.
For instance, Ireland has one of the highest corporate tax revenues in Europe, but this has led to an overreliance on multinational profits. If major corporations shift operations or restructure, the economy can experience sudden contractions.
Additionally, while wages have risen in some industries, they have not kept pace with inflation, leading to a decline in real income for many workers. Young professionals, in particular, feel they are working harder yet getting less in return due to higher costs of housing, food, and utilities.
In a 2024 survey, 67% of Irish respondents stated that they felt worse off financially compared to five years ago, despite overall economic growth.
The Cost of Living Crisis
The cost of living in Ireland has reached unsustainable levels for many residents. Some key indicators include:
Rent: The average rent in Dublin is now over €2,000 per month, while even smaller cities and towns have seen significant rent hikes.
Housing: The average house price in Ireland is €350,000, making homeownership increasingly out of reach for younger generations.
Food: Grocery prices have risen sharply, with essential items costing 12-15% more than in 2020.
Energy: Electricity and gas bills continue to rise, with households expected to pay an extra €300-€500 annually compared to previous years.
Childcare: Childcare costs in Ireland remain among the highest in Europe, making it difficult for families to balance work and expenses.
While the government has introduced cost-of-living supports, many feel these measures are not enough to offset rising expenses.
Can the Economy Improve for Ordinary People?
Despite the current challenges, Ireland still has opportunities to make life more affordable for its citizens. Some potential solutions include:
Building More Housing
Increasing the supply of affordable homes and rental properties could help lower prices and ease the housing crisis.
Addressing Wage Stagnation
Policies that ensure wages keep up with inflation would help improve purchasing power.
Tax Reform
Reducing the burden on workers while ensuring corporations contribute fairly could help balance economic growth with social benefits.
Investment in Public Services
Strengthening healthcare, transport, and childcare services could ease financial pressures on households.
Conclusion: Ireland’s Economic Success is Not Shared Equally
Ireland remains a wealthy country with a strong economy, but the benefits of this success are not felt equally. Multinational profits and corporate tax revenues make Ireland look wealthier than it is for many ordinary citizens, who face sky-high living costs, housing shortages, and wage stagnation.
This growing divide between economic success and everyday affordability has led to record emigration rates, as people seek a better quality of life elsewhere.
While the Irish government forecasts economic growth in 2025, real improvements for citizens will depend on housing reforms, wage increases, and cost-of-living relief. Without these changes, more people will continue to leave, and Ireland’s prosperity will remain a story of corporate success rather than a shared national achievement.
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@EliF-ge5bu at my level I would pay 37.1 I real taxation in California then I would have to pay for my health care and my 401k on top of that in the uk I pay about 40% tax and don’t have to pay anything on top of that.
Salary
$120,000
Federal Income Tax
- $19,528
State Income Tax
- $8,487
Social Security
- $7,440
Medicare
- $1,740
SDI (State Disability Insurance)
- $1,320
Total tax
- $38,515
Net pay
* $81,485
Marginal tax rate
43.0%
Average tax rate
32.1%
Real tax rate
37.1%
Uk tax
Yearly Monthly Weekly
Gross salary £100,000 £8,333.33 £1,923.08
Income Tax £27,432 £2,286 £527.54
National Insurance £4,764.60 £397.05 £91.63
Take home pay £67,803.40 £5,650.28 £1,303.91
Uk take home pay in usd 85,223.66 so I’m actually better off in the uk
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@ellaj8912 France is falling further behind the uk #1 United States Of America (U.S.A) 27,974 83.06
#2 China 18,566 13.16
#3 Germany 4,730
56.04
#4 Japan 4,291
34.55
#5 India 4,112 2.85
#6 United Kingdom (U.K.) 3,592 52.43
#7 France 3,182
48.22
#8 Italy 2,280 38.93
#9 Brazil 2,272 11.03
#10 Canada 2,242 55.53
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@ellaj8912 imf figures 2024
Now, let’s take a look at the top 10 largest economies/ richest countries in the world in 2024, sourced from IMF data (as of February 07, 2024):
Rank & Country GDP (USD billion) GDP Per Capita (USD thousand)
#1 United States Of America (U.S.A) 27,974 83.06
#2 China 18,566 13.16
#3 Germany 4,730
56.04
#4 Japan 4,291
34.55
#5 India 4,112 2.85
#6 United Kingdom (U.K.) 3,592 52.43
#7 France 3,182
48.22
#8 Italy 2,280 38.93
#9 Brazil 2,272 11.03
#10 Canada 2,242
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@dvidclapperton largest economies 2024 1 United States Of America (U.S.A) 27,974 83.06
#2 China 18,566 13.16
#3 Germany 4,730
56.04
#4 Japan 4,291
34.55
#5 India 4,112 2.85
#6 United Kingdom (U.K.) 3,592 52.43
#7 France 3,182
48.22
#8 Italy 2,280 38.93
#9 Brazil 2,272 11.03
#10 Canada 2,242 55.53
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