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Thread: #VINB Thur 17/1/2013: Employment, employment, employment

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    Politics.ie Member Norman Bates's Avatar
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    Default #VINB Thur 17/1/2013: Employment, employment, employment

    … @ at the slightly earlier time of 22:50

    Catherine Halloran, Political correspondent Irish Daily Mail https://twitter.com/popcornhack
    John Logue, President USI Union of Students in Ireland - Wikipedia, the free encyclopedia
    Brid O‘Brien, Irish National Organisation of the Unemployed INOU Staff » Introduction » Irish National Organisation of the Unemployed

    Against the backdrop of a special Cabinet meeting today on jobs, tonight #VINB turns his attention to this very important measure of our economic success. Just how are we doing on the jobs front?, how long will it be before we see a dramatic fall in the unemployment figures?

    A number of additional measures to help job creation were agreed at this afternoon's special Cabinet meeting on jobs which will be announced in the Action Plan for Jobs for 2013, to be published next month. Proposals include initiatives from local government, NAMA, the National Pension Reserve Fund, and the wider financial sector.

    Enda Kenny said the levels of unemployment across the EU and in Ireland were unacceptable when he addressed the European parliament in Strasbourg yesterday. Today, Mr Kenny said the priority is to grow the economy.
    .
    Fianna Fáil dismissed this afternoon's special Cabinet meeting as "a scam" that not a single extra job. However, Government sources insist the initiative is a real one.
    .
    We’ll see later what Vinny and his panel think of:
    * the special Cabinet meeting on jobs
    * the unemployment crisis
    * the HMV sit-in.

    Should be a good show - and it’s 10 minutes longer tonight …


    Cabinet agrees job creation plan - The Irish Times - Thu, Jan 17, 2013
    Special Cabinet meeting discusses job crisis - RTÉ News
    Politics » Cabinet Meeting on Jobs
    Newstalk - FF hit-out at special Cabinet meeting on jobs as 'stunt'


    http://www.politics.ie/forum/economy...nemployed.html
    http://www.politics.ie/forum/economy...y-turn-up.html
    http://www.politics.ie/forum/health-...eu-report.html
    http://www.politics.ie/forum/economy...jobs-jobs.html
    http://www.politics.ie/forum/economy...out-there.html

    We’re all right, we‘ve a job … how about you?


    BREAKING Silvercrest temporarily suspends all production following Dept of Agriculture tests confirming presence of horse DNA in burgers. #VINB will also be discussing this and the latest on the investigation/reports into Savita Halappanavar's death.

    Algeria hostage crisis and France’s military campaign in Mali:
    Tom Clonan, Retired Irish Times security Analyst https://twitter.com/TomClonan

    Paper preview:
    Angela Long, Journalist https://twitter.com/ALongsword

    Previous #VINB: http://www.politics.ie/forum/backsta...vival-way.html

    Online: Aertv | Watch Irish TV live online Or tv3 catch-up through: Catch-up TV, Entertainment, News, Sport, Soaps and all your favourite Irish and International shows from TV3

    Due to unforeseen circumstances
    Regina Doherty, FG TD Meath East Regina Doherty TD
    was unable to attend.
    Last edited by Norman Bates; 18th January 2013 at 01:05 AM. Reason: update

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    What has TV3/Vinny B done to deserve your unrelenting dedication, Norm?

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    Politics.ie Member carlovian's Avatar
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    Great op norm.

    Its a runner for worst panel ever though !

    I may watch as a warm up for Lance Armstrong and Oprah.

    Now if Vinny got Lance on then...............
    I believe that children are the future

    Unless we stop them now.

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    Politics.ie Member Norman Bates's Avatar
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    Quote Originally Posted by ShoutingIsLeadership View Post
    What has TV3/Vinny B done to deserve your unrelenting dedication, Norm?
    I like their mugs ...

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    3 hours ahead of schedule. Just going to watch last nights now. Or should I bother?

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    Quote Originally Posted by carlovian View Post
    Great op norm.

    Its a runner for worst panel ever though !

    I may watch as a warm up for Lance Armstrong and Oprah.

    Now if Vinny got Lance on then...............
    dismal panel a definite no no

    the unfortunate thing about the vb show is that it is the same every night

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    Politics.ie Member Amnesiac's Avatar
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    Quote Originally Posted by carlovian View Post
    Its a runner for worst panel ever though !
    A dreadful panel.

    Regina Doherty - Government party line. Corners being turned left, right, and centre.
    Catherine Halloran - Daily Mail, need I say more.
    John Logue - "Students have it tough these days."
    Brid O'Brien - "Unemployment is terrible. I sure am glad three separate government departments (and don't forget Fás) provide funds to my organisation so I can have a job and go on current affairs programmes to describe how awful unemployment is." Somebody might have a look at the expense figures in the INOU 2011 annual report and tell me if I'm seeing things: http://www.inou.ie/download/pdf/inou...eport_2011.pdf

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    Politics.ie Member Mushroom's Avatar
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    Quote Originally Posted by ottovonbismarck View Post
    3 hours ahead of schedule. Just going to watch last nights now. Or should I bother?
    Don't bother. I'll tell you what we all learned last night.

    Pearses's squaw is a teacher and they're a pair of regular shaggers with 4 kids so far to their credit; so Pearse can't handle a condom whatever about an Armalite.

    Vinnie tried to rehash ancient history to prove an entirely irrelevant point to his own satisfaction while surreptitiously jerking himself off behind the desk. Paschal was Paschal. The UCC woman was gash.

    C'est tout.

    And tonight's show is going to be even poorer with that panel.

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    Mother of God are they EVER like EVER find new panellists and.............. Browne claims he wants more diversity in the media.

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    Youth Entrepreneurship Fund

    Introduction
    As part of our pre-budget submission we are calling for the establishment of a Youth Entrepreneur Fund (YEF) to be considered as part of the labour-market activation policies introduced in Budget 2013. Although the standardised unemployment rate has stabilized at circa 14.8% prior to the implementation of Budget 2013, youth unemployment has consistently remained significantly higher in the 18-25 year-old demographic. According to QNHS second quarter data and the October monthly bulletin by the Economics Division in the Department of Finance youth unemployment remains a serious issue with outward migration heavily concentrated in the 18-25 year-old demographic. Youth unemployment among 15-19 year olds stands at 48.5% while it is 29% for 20-24 year olds. This rate of youth unemployment is devastating for the long-term growth prospects of the economy.
    While fully recognising the tough fiscal environment facing the government and the tough budgetary adjustments necessary to reduce the underlying exchequer deficit we are calling for a greater emphasis on labour market activation policies. The application of fiscal discipline and continuing commitment by the Government to restore order to the public finances has engendered sustained confidence in Ireland as evidenced by falling debt yields. However, although 10 year-Irish bond yields have declined, Ireland’s debt sustainability is far from certain with the projected fiscal deficit of 7.5% for 2013 still forecast to be the largest in both the euro zone and the EU27. As of Q2 2012 the Irish sovereign’s indebtedness relative to GDP was 111.5%, the fourth highest in the euro zone. Pro-growth policies will assist in underpinning debt sustainability, restoring investor confidence and generating employment – central to this are labour market activation initiatives.

    Impact of Youth Unemployment
    The unemployment crisis is Ireland is both a social and economic crisis that will haunt Ireland for the decade to come with the standardised unemployment rate unlikely to fall to single figures this side of 2020. Unemployment represents a significant burden on the exchequer through social transfers and has many negative social consequences. As a country, we need to do everything we can to prevent joblessness among an entire generation as it destroys the confidence of the individual with their job prospects declining the longer they are out of work. Skills erosion on a mass scale due to unemployment may also hinder the long-run growth prospects of the economy as unemployment acts as a drag on long-term growth prospects.
    While recognising that many government initiatives and labour activation policies have already been implemented, we believe that more can and should be done.

    Although there are many state supports via Enterprise Ireland and the local County Enterprise Boards there is no specific fund youth entrepreneurship fund for the youth of Ireland, yet it is something that exists in many countries around the world. Many young entrepreneurs are struggling to access credit due to the higher credit risk in lending to such individuals and with regards to state funding, unless a business idea involves/displays manufacturing and export potential such funding is not available. We have all heard of many young entrepreneurs who can't get funding via either state grants or the financial institutions. We believe that the idea of a Youth Entrepreneurship Fund (YEF) is something that should seriously be considered. Evidently, we are faced with austere budgets for some time to come and we know that significant fiscal challenges remain. But, if we were to even consider establishing and running such a fund on a one year pilot basis we may be surprised at how successful it may be. Such an initiative we strongly believe could really make a difference and the concept of such an initiative may gain significant support among the public and send out a message of hope.

    The Youth Entrepreneurship Fund
    The Youth Entrepreneurship Fund (YEF) would be established and implemented on a one year pilot basis. We welcome the recent establishment of a specific fund of €250,000 for female entrepreneurs and believes that a fund of similar size should be considered for implementation on a one year trial basis pending further review with a view to it increasing in size over time.
    • The fund should be administered by Enterprise Ireland with representatives on the YEF council from the Department of Jobs, Enterprise & Innovation, with no more than one third of the governing council consisting of young entrepreneurs themselves and youth workers.

    • Funding for viable enterprises in all business sectors will be considered for businesses that can develop into viable enterprises and generate employment.

    • Applications will be considered from young entrepreneurs aged 18-25 years of age.

    • Further definition of criteria and funding structures we leave up to the discretion of the government and the Department of Jobs, Enterprise & Innovation.

    • Funding

     Private sector involvement in the fund shall be sought for investors who wish to invest in potential business ventures, purchasing a minority stake in such businesses with a view to sharing in any potential future profits. Many venture capital companies and even multinationals such as Google, Twitter, Facebook and others could be sought to invest in the YEF initiative.
     Financial institutions will be asked to make funding available for lending purposes to viable business start-ups linked to the YEF.
     European Partners (e.g. European Commission) – The Government should apply for funding on behalf of the fund with a view to supporting young entrepreneurs and fostering and encouraging a culture of innovation, entrepreneurship and excellence among young entrepreneurs. The European Commission is due to unveil plans to address youth unemployment shortly.
     National Pension Reserve Fund (NPRF) could be considered with regards to funding the Youth Entrepreneurship Fund.
     Current budget review/ existing resources– as a last resort funding would be allocated to the YEF from either current government expenditure or the current budget of the Department of Jobs, Enterprise & Innovation.
    No idea, no matter how small could make a difference. Even the announcement of such an initiative may encourage confidence and engender hope among the Irish public that everything that is being done to resolve the unemployment crisis is being done.
    There are so many talented individuals out there in Ireland, passionate and energetic who could generate employment and make a contribution to economic growth if provided the right supports. Again, even if the idea or concept of such a fund was considered, no matter how small, it could really make a world of difference to many enthusiastic young people.

    Let us take this opportunity to address three key criticisms of this initiative and let us address each concern specifically.


    The Youth Entrepreneurship Fund – Criticisms

    1) State supports already exists
    Yes, it is true that there are many state supports for either growing SME's or for entrepreneurs with a view to establishing their own businesses such as the new €90m Microenterprise Fund. However, in terms of seed capital and direct financial state aid, if the business model or the business idea does not involve manufacturing for export Enterprise Ireland and the local county and enterprise boards in reality are extremely limited in what they can do. Although they can assist with training supports and marketing, no direct capital will be provided for most business ideas outside of the export led model. This stems from Ireland's export-led strategy but to the detriment of encouraging the development of indigenous companies. While the Microenterprise fund does guarantee the first €25,000 of loans it doesn’t provide direct state grand aid. The YEF is much more likely to encourage and sustain business viability as it encourages investment from experienced private sources who can lend advice, experience and ideas as potential business partners.
    2) Why should Young people be treated any different?
    If young people are good enough, surely their ideas will be supported and they will get funding? Wrong, many young people and their business ideas are categorised as high risk by financial institutions because of their lack of experience and limited initial capital/savings. Young entrepreneurs can be discriminated against and face unique barriers and challenges to funding. That is where we believe the establishment of a YEF would come in, it would directly address the credit issues faced by young entrepreneurs and it would provide a state fund for business ventures which do not necessarily have to be export driven businesses. Although the microenterprise fund has been established, a specific youth entrepreneurship fund would provide direct state aid to young entrepreneurs who do not necessarily have to have business models that are export and manufacturing driven. Crucially, a specific youth entrepreneurship fund would encourage a culture of innovation and excellence among the youth of Ireland acting as the nation’s primary enterprise hub for youth entrepreneurship and enterprise among the youth of Ireland. Establishing such a fund, sends out a clear message that the government takes the issue of youth unemployment seriously and it would send out a message of hope in such dark and difficult economic times.

    3) Funding - Ireland is in a fiscal straitjacket with little room for manoeuvre.
    Yes, it is true that funding in Ireland at the moment is particularly tight with the country engaged in a bailout programme that will us attempt to reduce the deficit to 3% of GDP by 2015. Ireland faces many more tough budgets for years to come and no one denies the difficult and austere budgetary climate we will face for years to come. However, there are multiple options for funding as outlined above.
    The primary source of funding for the fund in the long-run would be from potential investors and private sources. No fund, no idea how small should be underestimated in terms of its ability to generate hope and belief among a generation. Even if the Government is reluctant to get involved in such a fund, the YEF initiative could be the centre point for young enterprise and innovation in Ireland, connecting potential future entrepreneurs to current and experienced ones. It would send a clear message that this Government is serious about addressing youth unemployment and offer hope in a time of crisis. Simply pointing to current supports is not good enough, this idea deserves a few moments of consideration by the Government. The YEF concept also deserves consideration for integration into the Government’s current Action Plan for Jobs.

    Conclusion

    The Youth Entrepreneurship Fund (YEF) fund has the potential to be more than just a fund that administers state grants to potential entrepreneurs. It could be more.

     It could be an initiative that provides support, guidance and advise to young entrepreneurs.

     It could connect new and inexperienced entrepreneurs with experienced business people.

     A voluntary register of young enterprises could be established and an innovative, Ireland presented to the world.

     The YEF could also organise an annual “Excellence in Youth Enterprise, Innovation & Excellence” fair where young entrepreneurs could market their businesses, where they could make contacts and develop new relations and of course gain potential investors and business partners.

     There is a wealth of untapped potential in Ireland that needs to be stimulated for the benefit of a society that encourages its young people to contribute their ideas, passion and energy into rebuilding our economy and society. The employment benefits of this concept should not be underestimated, neither should the message of hope it could bring to a nation.

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