Chpt 2 Long Q Financial Services In Ireland

Question 1

Define financial services

Answer 1

Are businesses such as insurance, banking, credit card services, investment find management and aircraft leasing

Question 2

What type of economy does Ireland have

Answer 2

A developed economy

Question 3

What happened in the 1980s

Answer 3

Financial services sector grown considerably since 1980s due to promotion by gov

Question 4

How many financial services are in Ireland

Answer 4

500 financial services

Question 5

What is the corporation tax rate in Ireland

Answer 5

12.5%

Question 6

What is the corporation tax rate in Japan

Answer 6

41%

Question 7

Why does Ireland have a unique workforce

Answer 7

36% of population is under 25 years of age

Question 8

What makes the Irish workforce skilled and experienced

Answer 8

Over 1 million people currently in full time education
26 nationalities in Ireland
Only fully English speaking country left in EU

Question 9

What has the government invested in to encourage Irish financial serviced to go

Answer 9

In transport, excellent telecommunications infrastructure and airline network

Question 10

How many people are in the EU

Answer 10

440 million people market

Question 11

How many jobs does financial services corporations provide in Ireland

Answer 11

35,000 jobs - 2000 just in aircraft leasing

Question 12

How does Ireland’s location affect timezones

Answer 12

Europe is midway between american and Asian economies so European companies benefit from the time difference between both continents and can easily do business with both

Question 13

What is the IFSC

Answer 13

International Irish financial services centre

Question 14

When was the IFSC set up

Answer 14

1987

Question 15

Why was the IFSC set up

Answer 15

Attract investment into Ireland from global financial services

Question 16

Where is the main centre of financial services industry in Ireland

Answer 16

Dublin Docklands

Question 17

How many counties throughout Ireland are financial services companies located

Answer 17

20 counties

Question 18

What does the IFSC provide throughout Europe

Answer 18

Insurance services - this sector is growing strongly with companies like Zurich and Aviva setting up European services in Dublin

Question 19

How much does financial services contribute to Irish GDP

Answer 19

7.4%

Question 20

Financial services account for 10% of

Answer 20

Multinational employment in Ireland

Question 21

How much does the selling of financial serviced from companies based in the IFSC contribute in tax annually

Answer 21

€2.1 billion including 36% of total corporation tax take

Question 22

What is Ireland the leading centre for

Answer 22

Aircraft leasing

Question 23

How many aircraft leading companies currently operate in Ireland

Answer 23

9 out of the 10 leading companies

Question 24

How much is aircraft leasing worth in global market

Answer 24

€104 billion

Question 25

How much of aircraft leasing does Irish based companies own and manage

Answer 25

19% of roughly 18,000 commercial craft flying today

Question 26

What was designed to develop financial services beyond brexit

Answer 26

The IFS2020 Action Plan which enables the sector to expand without reliance on the UK

Question 27

What does Ireland have more of per capita than any other country

Answer 27

Actuaries