Welcome to Trading Up Unpacked, the business podcast from the Irish News and EY. Hosts Jim Fitzpatrick and Richard Ramsey dig deep into the pressing issues of the day. They scrutinise the Northern Ireland economy, which recorded its 10th monthly decline in activity, noting that the low 2.4% unemployment rate is offset by the UK's highest levels of economically inactive workers. The conversation pivots to UK fiscal chaos, detailing the U-turning Chancellor and the failure to address welfare reform, leading to market-damaging instability. Jim and Richard analyze the proposed "smorgasbord" of stealth taxes, like freezing income tax thresholds and potential changes to salary sacrifice schemes. Internationally, they discuss Donald Trump’s tariff reversals driven by US inflation. They conclude by examining global trade interconnectedness, highlighted by China’s tomato paste surplus following forced labor allegations, and the growing pressure on Ireland’s defense spending and geopolitical stance.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

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Dive into the massive challenges facing the UK economy with Rupert Soames, Chair of the CBI. Known for running difficult and massive companies like Serco and Aggreko, he describes his "horrible habit of walking towards gunfire" when it comes to choosing which jobs to take. He recounts his bold turnaround strategy: telling employees to “bring out your dead” to fix underlying issues and win back trust. His plucky attitude to such challenges may be reflective of his family background, as a grandson of Winston Churchill. But even this distinguished heritage comes without its own issues to navigate.

With the discussion examining the big economic picture, he's mindful that the UK’s GDP per capita has effectively flatlined since 2010, lagging far behind the US. He addresses the staggering national debt accrued since COVID, noting that interest payments on government debt have dramatically soared. He suggests that the growing maturity of AI could be the key to unlocking improved quality and reduced costs in public services. He also weighs in on tax burdens on businesses and celebrates the resilience of ambitious small and medium-sized enterprises in Northern Ireland. He emphasises that the UK needs "a bit of bloody ambition" to secure the kind of growth that would transform the economy, public services and the general mood.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

In this episode of Trading Up Unpacked, Jim and Richard dig deep into the economy and global politics. Northern Ireland is enjoying record pay increases, with annual earnings up 8.1%. We analyse whether this rise translates to real-term gains after years of wage stagnation (which averaged -0.1% over a decade) and how this impacts public and private sector workers.

Locally, we examine Stormont's continued paralysis as the proposed $20 billion gold mine in County Tyrone remains stalled, sending a poor message to international investors about barriers to development. Globally, we discuss China's strategic leveraging of rare earth metals in trade negotiations. Finally, a V-Dem Institute report reveals the alarming decline of democracy worldwide—now back to 1985 levels—and we connect this political disillusionment directly to decades of economic stagnation and the rise of autocracy.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

Join Sandra Corkin and her son Scott of Oasis Travel, an independent family business that has defied the odds in the travel industry. They share how they survived intense competition, the rise of the internet, and the devastating impact of the COVID-19 pandemic, maintaining a substantial turnover now touching £40 million. Celebrating 40 years of growth, Oasis Travel shifted its focus from low-margin bookings to high-end travel (cruise and luxury packages) where staff expertise adds maximum value. Learn how the new generation is blending personalised, one-to-one service with the right tech, including a new customer app, to ensure the business's bright future.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

In this Unpacked episode Jim Fitzpatrick and Richard Ramsey examine how small business can survive in today's big, bad world. The global order has "changed utterly" to one of disorder, making geopolitics a mainstream boardroom issue for businesses of all sizes. This uncertainty, fuelled by rising protectionism and US policies like the Inflation Reduction Act (IRA), is directly impacting the bottom line: 47% of UK listed companies recently blamed geopolitical shifts for issuing profit warnings. While the EU struggles to define a unified strategy between the US and China, the UK-EU relationship reset remains slow. Critical agreements, such as the SPS deal impacting the Windsor Framework, may not be in place until 2027. Locally, Northern Ireland faces severe skill shortages exacerbated by high economic inactivity, including 117,000 long-term sick. Furthermore, the latest business activity Growth Tracker (PMI) indicates a more contraction.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

This week it's Trading Up Unpacked with Jim Fitzpatrick and Professor Richard Ramsey digging deep into the nature of north south business and economics in Ireland. From waves of desperate weight-loss drug hunters flooding into Newry; to the growing number of companies in Northern Ireland that are owned in the Republic; to the increasing trade and tourism figures; Jim and Richard explain and explore the underlying forces at work. They also examine revived plans for Northern Ireland to harmonise its business tax rate with the Republic. Wishful thinking or a good idea? Jim and Richard argue it out.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

Running a restaurant business is definitely not for the faint of heart. Jim meets celebrated Belfast chef Niall McKenna and Normandy native Marion Lancial who has made Northern Ireland her home, to explore the highs and lows of running a restaurant. From choosing the financial crisis or the eve of the Covid lockdowns to expand; to managing the accumulated costs of each broken glass (that’s the equivalent of throwing a steak in the bin); to the joys of celebrating the best local produce and making people happy. 

Niall and Marion offer a unique insight into the trade and offer up some business tips that will make sense to anyone dealing with the kinetic environment we all face today.

Brought to you in association with EY.

The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Join journalist Jim Fitzpatrick and economist Professor Richard Ramsey of Queen’s University Business School as they unpack the big economic and business issues of the day. What’s going on with government finances across the world? From the US, to France to the UK the dreaded deficits are growing and the cost of servicing the debt is ballooning. In some cases it’s leading to political crises - France has just lost another Prime Minister. In the US, denial is the order of the day. In the UK, the Chancellor is putting budget day off as long as possible in the hope, perhaps, that something will turn up to make her difficult job a little bit easier..

Meanwhile, Jim and Richard ask the question - what’s the most dangerous job to have in government? The answer might surprise you.

And they've the very latest insight into how all of this could be shaping the economy closer to home.

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Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

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