Budget 17 and Financial Services

Budget 17 provides the opportunity for Government to strengthen Ireland’s financial services offering at a time of significant political and economic change, both nationally and internationally.

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We are living in an era of unprecedented political and economic change which has the potential to shape the financial services sector in Ireland long into the future. In this environment, Budget 17 is a real opportunity for the Irish government to reaffirm its commitment to the sector and embrace the potential for growth and new opportunities.

   

   

Financial services in Ireland could benefit significantly from Brexit, and Budget 17 is the perfect opportunity for Government to clear the path to a new phase of growth for the sector.

Many UK-based FS operations are developing contingency plans to deal with the possibility that the UK does not maintain full passporting rights.  Those plans include the option of setting up a new entity elsewhere in the EU, and Dublin is competing with other European cities for this business. We feel that Government could help the FS sector by addressing the perceived blocks to attracting businesses which may be looking to move out of the UK.

Positive measures would include revision of the high rates of personal tax and thresholds for paying income tax at the marginal rate, which continue to be significant issues in attracting talent to Ireland; the allocation of additional budgetary resources to ensure the CBI has the capacity to deal with a significant influx of new entrants to the Irish FS sector; and the promotion of investment to deal with the lack of capacity in the residential and commercial infrastructure.

Join us as we take a closer look at these issues.

   

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In an era of continuing political and economic change, Budget 17 is a real opportunity for the Irish government to reaffirm its commitment to the financial services sector in Ireland. What actions can Minister Noonan take to ensure that Ireland's financial services offering is strengthened?

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