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Food industry is Ireland's future

There are now acute economic problems to be faced in Ireland, north and south, and there is the popular belief abroad that the economic future of Northern Ireland can be enhanced by reducing Corporation Tax.

The theory is that in this way international capital can be induced to invest here as it has done in the Republic. The drawback with international capital is that it is foot-loose and fancy free and will migrate to any spot on planet earth where profit can be maximised.

An economy that rests too much on international capital has an uncertain future.

Ireland has a relative advantage in the production and marketing of food so the food industry should become the bedrock of a stable indigenous Irish Economy.

Michael Gillespie

Derry

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