A&O and Herbies share £3m of public funding for Belfast launches

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  • Wake up - just about every government around the world will offer investment incentives to entice decent employers and viable businesses to invest in their patch rather than someone elses. If a one-off £3m keeps all these jobs in the UK rather than India then it's a fair deal. And if that in turn entices more businesses to invest there rather than heading east then it starts to look like an astute investment.

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  • Governments incentivise business to help economies grow.
    How do they do that? They spend taxpayers' money because that is how everything is paid for.
    It's an investment and, possibly, a very good one for e city that will benefit from having an extra couple of hundred jobs created.
    Yes, A&O probably don't need the money, but then businesses that get tax breaks for coming to the UK probably don't need those either.
    It's pretty basic free-market capitalism, something which I'd have thought most readers of The Lawyer would understand.

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  • Having originally applied for one of the Belfast roles at Herbert Smith, I was shocked at the salary they were offering. With these subsidies they are going to have hardly any salary outlay for the first year.

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  • @Thomas Hobbes
    First, don't be such a patronising tw*t, yes readers of the Lawyer do understand how capitalism works.
    Second, you are forgetting the reason why people are getting angry here - this is about a firm sacking dozens of loyal staff not because they have failed, not because the firm is under threat, but because the partners want to boost PEP just a tiny bit more, while giving clients the spin about having made an effort to reduce costs - even though overall fees to clients will stay the same - or rise.
    The whole process of gettting Government money just makes it worse. And as to creating jobs - that is bonkers - they are sacking people in London to hire the same number of people in NI. What good does that do the national economy? All it does it mess up a lot of people's lives.

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  • £3 million is just recompense if seen in the light of 40 years of spectacular underinvestment in the region (Derry for example is the only city (technically) in the UK with no motorway connections) and the associated oppression of almost 50% of the indigenous population by the British state.

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  • Rousseau - I agree completely that people should be angry about staff losing their jobs while partners count their millions.
    I think the way plenty of firms run their businesses is despicable in many ways and this is another example of it.
    My only point was that it's missing the issue by a long way if you are going to get your knickers in a twist about tax money going to A&O - it's classic Daily Mail knee-jerkism.
    And apologies for the patronising tone. Not intentioned

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  • @ Rousseau | 4-Feb-2011 3:16 pm - hear! hear!
    these are not high-end jobs that are being created, they are non-strategic support roles with a handful of commoditised legal roles to boot. They are not going to be super well-paid and hence making major contributions into the consumer economy. I'm all for government incentives to economic development, but why on earth does it have to go to a £1bn City business that has plenty of spare cash? What about investment in local SMEs or indeed social enterprises instead of the bloody fat cats?

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  • @Terry Silver - please keep your antiquated provincial political views out of a serious debate about an issue that clearly affects many peoples lives

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  • To Belfast exile | 4-Feb-2011 2:49 pm
    "Sorry but I don't like my taxes being used to prop up regions which don't manage to generate business on their own. "
    Erm, excuse me but doesn't the City of London prop up most of the country? Wasn't that the reason we have enjoyed a boom bust?
    lawyers like you are looking after their own, which is what everyone here is complaining about A&O doing.

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  • With revenues of £1 billion a year - I wonder how much A&O pays in tax a year? Probably a shed load more than the £2.5m they've been offered.
    Guess that means you don't have to worry about it being your tax money then...

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