At the time of independence and partition, the Northern Ireland was the richer, more developed part. Belfast was bigger than Dublin. The new state would endure a difficult start with an isolationist approach to the economy, highly dependent on trade with the UK (90%) but with its entry into the European Economic Community along with the UK In 1973. Ireland’s economy began to open up. The state which controls its economy, mistakes and all, has thoroughly eclipsed the concubine British region.
‘Ireland joined the European Community in 1973 and the euro-zone currency union in 1999. The economic boom years of the Celtic Tiger (1995-2007) saw rapid economic growth, which came to an abrupt end in 2008 with the meltdown of the Irish banking system. As a small, open economy, Ireland has excelled at courting foreign direct investment, especially from US multi-nationals, which helped the economy recover from the financial crisis and insulated it somewhat from the economic shocks of the COVID-19 pandemic’. (CIA)
Natural resources
Natural gas, peat, copper, lead, zinc, silver, barite, gypsum, limestone, dolomite
Economy
‘Ireland is a strong, export-based EU economy; multinational-business-friendly environment known for resilience, even amid COVID-19 disruptions; real wage growth beyond other OECD members; high livings standards; strong social equity and cohesion; aging labour force’ (CIA)
Currency: Euro. Ease of doing business index: 24th
‘But the UK has more protections for its citizens’
Irish unemployment benefit is 20% higher than the UK’s
Irish taxation is more progressive than the UK
Broadcasting: Ireland/Scotland
In 2023, the broadcasting spending in Scotland and Ireland differed significantly. According to the Ofcom Media Nations Scotland 2023 report, BBC Scotland’s spend for Scotland was £64.6 million, while RTE in Ireland spent approximately £286 million on providing full TV, radio, and online services. Additionally, the Scottish Affairs Committee reported that the spend by STV/ITV on first-run content for Scotland was a meagre £9.4 million. These figures highlight a substantial disparity in broadcasting spending between the two countries.