Oireachtas Joint and Select Committees

Wednesday, 16 July 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

The Impact of Tariffs on the Irish Economy: Nevin Economic Research Institute

3:50 am

Dr. Tom McDonnell:

That is right. To the point I was making earlier about cities, economies of scale are another important factor. The more back-and-forth that can be created between the two economies creates a greater economy, greater scope for innovation and can only be a positive thing. There are obvious sectors such as electricity where having a single island economy completely makes sense. What we are talking about in the South is the same broad policy suite that makes sense for Northern Ireland as well. The Senator knows the issues there in terms of human capital and brain drain to London in particular being a significant issue that creates a negative feedback loop. If there is not labour supply, then the labour demand will not be there. However, there is not the labour demand in enough areas as it is. It is about using the third level sector to kickstart that. The North should absolutely should absolutely be attempting to induce these American academics over to Queen's and Derry universities and the rest. We should strike while the iron is hot because it will not be hot for long.

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