FAVOURED BREXIT CHOICE – Firms identify Ireland as the best moving location following Brexit – as country is ‘gateway’ to the rest of Europe
IRELAND is the leading option for businesses considering moving on account of Brexit.
Minister of State Eoghan Murphy has already had “many meetings” with firms from the UK as well as further afield which are considering setting up right here who view Ireland as an ideal “gateway” for the rest of Europe.
He is in Asia this week to connect with additional firms looking into establishing bases in Ireland as a result of doubt a result of Britain’s decision to exit the EU.
The Fine Gael TD has briefed the Cabinet about the “financial services action plan” to tempt international companies to Ireland.
He’s marketing primarily for businesses to move their fintech operations – the computer programmes utilized to support economical solutions – here.
And Murphy believes we are now perfectly placed to enjoy the rewards with regards to job opportunities. The Financial Services Minister explained to the Irish Sun on Sunday: “What we’re wishing to complete in our five-year strategy is position ourselves as the global area of choice in regards to specialisation and development in economical solutions.
“So when I am in Asia – I am in Hong Kong next week and after that on to Beijing – we are telling businesses: ‘If you want a portal to the European single market, and you can no longer make use of the UK due to doubt, Ireland is the genuine area choice to visit.’
“I have been doing that ever since the Brexit referendum, going to many jurisdictions to discuss the probabilities here for those who are interested by fiscal services.”
He voiced: “I am going to be doing that in Asia and with the European economical forum planned in Dublin Castle. We are hoping to have around 600 attendees from all around the planet coming to discuss the way forward for economical services within Europe.
“And the key reason they’re traveling to go over it in Dublin is mainly because we see ourselves as the gateway.
“We have gotten plenty of awareness and I have had huge number of meetings with firms in the UK but additionally New York, Tokyo, Shanghai plus here in Dublin whenever they arrive.”
Ireland can make the most of its links to the EU and London post-Brexit, he believes.
The minister said: “London will almost always be a global fiscal hub that is certainly beneficial to us. We enhance London in several ways – and contend in lots of ways as well.
“When we consult organisations we are there or thereabouts regarding what they may do.
“Now this will depend on what takes place with Brexit. Should they keep the passporting privileges into the Single Market we aren’t likely to view the sort of massive relocations which were being speculated about.
“But if they don’t get passporting privileges there are going to be businesses and banking institutions, funds and everything else, who wish and require to have access to the Single Market.
“We will be here to offer that. They’ll need to make a conclusion to move somewhere.
“So we have decided to take an approach that understands the power of London to the European continent, regardless of if the UK is in or outside the EU, as a economic services centre.”
Mr Murphy a week ago introduced his plans to deal with the rip-off expense of motor insurance.
Endorsing our Give Us a Brake plan, he was adamant Ireland won’t be an “outlier” for high settlement payouts for accidental injuries for example whiplash.
He was quoted saying: “Where premiums increase by 30 or 40 percent or more – and where driver behaviour hasn’t changed and there isn’t any new penalty points – is preposterous.
“As these actions work through the system we are not going to see that volatility again.”