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Irish infrastructure and financial services industry to get boost in light of Brexit

  • Ireland
  • General

06-02-2017

Minister for Public Expenditure, Paschal Donohoe and Minister for Finance, Michael Noonan have announced a revision of the Government’s capital investment programme up to 2021, with €2.6 billion in unallocated money being allocated to projects designed to improve Ireland’s economic competitiveness.

Mr Donohoe commented “What we now have to address is, in the light of Brexit, how we can better link up pieces of infrastructure so that they are operating in a more integrated manner and supporting the competitive advantages Ireland will have to deliver in a more competitive world.”

Separately, Ireland is expected to be one of the biggest winners following Brexit as banks prepare to relocate to new hubs within the European Union. Minister of State for Financial Services, Eoghan Murphy said the “Republic has had more than 100 enquiries in relation to setting up bases post-Brexit, and said positivity toward Dublin is increasing among banks considering Brexit-related moves”. Ireland’s status as an English-speaking location with similar laws and regulations to Britain will make the State an attractive option in ensuring continued access to the European Union. TheCityUK lobby group reckons as many as 35,000 jobs could be relocated to Ireland post-Brexit.

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