Business, the Economy and Government - Business Revision Notes
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- The government agrees National Pay Deals with the social partners such as ICTU (Irish Congress of Trade Unions) and IBEC (Irish Business and Employer Association).
- They agree reasonable pay rises over several years for their employees in return for favourable taxes.
- They aim to increase certainty and lower disputes. There will be fewer pay disagreements as increases are previously arranged.
- Businesses can plan better for the future as they have a degree of certainty.
- Example: Lansdowne Road Agreement on public sector pay.
- This consists of both current expenditure (day to day expenses) and capital expenditure (once off, on infrastructure projects).
- Current Expenditure: the government spends billions each year on products for the civil service such as Garda uniforms, school desks etc. This leads to increased sales for local businesses.
- Capital Expenditure: spending money on roads makes it easier and faster for businesses to transport their goods.
- This help Irish businesses on different aspects such as expansion, staff training and with funding.
- Enterprise Ireland: helps indigenous plans draw up business plans. Helps them if they wish to expand abroad. Also provides Irish companies with grants.
- IDA Ireland: work at attracting transnational companies to Ireland. Promote Ireland as a low tax economy, gateway to the European market ec.
- Fáilte Ireland: this agency spends money developing the tourism industry in ...