Taoiseach: Recovery can survive Brexit

Dismissing the fears from opposition parties and some Fine Gael back-benchers, he told US TV station CNBC he has a plan in place and there is no question about the safety of Ireland’s economic recovery:

“I’m very confident and very optimistic that Ireland continues to be a very attractive location, both for investment from abroad, and for the possibilities for expansion of indigenous Irish industries.

“Yes, of course, in terms of currency fluctuations there are challenges, that’s an undoubted fact, but we’re continuing to be competitive, looking at new markets, at new opportunities. I’m very optimistic about the future.”

Speaking to reporters at the same event as Mr Kenny gave what Irish officials said was an “off the cuff” address to world business leaders, Mr Noonan said more than 100 London-based companies have made inquiries about potentially moving to or expanding their presence in Ireland due to Brexit.

“A lot of City of London companies have been making inquires about Ireland, and are involved in effectively contingency planning in the event that the Brexit arrangements don’t work to their satisfaction.

“The Central Bank has hired extra regulatory staff, and they have had in excess of 100 separate inquiries from firms based in the City of London,” he said.

Mr Noonan said Ireland is not acting in a “predatory” way but stressed “we’ll get our share” of companies that move due to Brexit.

While citing Amsterdam as the main rival to Dublin when it comes to attracting investment, he said a number of firms are “committed to coming to Dublin”.

Both Mr Kenny and Mr Noonan repeatedly stressed that there will be no return to a hard border with the North, and argued Ms May’s “no return to the borders of the past” comment in Tuesday’s Brexit speech shows she holds the same view.

However, in Ireland, opposition parties continued to level severe criticism at the lack of a clear, public plan for coping with the crisis.

“The Taoiseach needs to step up his engagements with other member states, particularly smaller states,” Fianna Fáil European affairs spokesperson Sean Haughey said.

Meanwhile, former Central Bank governor Patrick Honohan said if Ireland wants to secure its economy recovery, tax deals must not be central to the State’s foreign direct investment strategy.

Puttnam protest

Oscar-winning film producer David Puttnam has accused the British government of treating EU nationals living in the UK like “prisoners” in an exchange programme.

The Labour peer, who lives in Skibbereen, Co Cork, urged ministers to take the moral high ground by guaranteeing their right to live in the UK instead of using them as “bargaining chips” in Brexit negotiations.

In a debate on the impact of the EU referendum on the creative industries, including film and television, Puttnam warned thousands of jobs were at stake. He said there was a “huge moral issue”. Britain had caused the “rift” and Europe was the “injured party” after the referendum.

“Surely we should seek to retain a little of the moral high ground by clearly and unequivocally guaranteeing the right to stay for those hundreds of thousands of hard-working, tax-paying, economically active people who add so much to the vibrancy of London in particular and the nation in general.

“At present we appear to be subjecting them to some form of prisoner exchange programme, treating them as high stakes bargaining chips.

“These are people, not chips — people who last June’s unfortunate vote suddenly made vulnerable.

“Surely as a nation we are better than that. Surely we should immediately and generously embrace them in the hope that Europe will see the good sense of doing likewise.”