Ireland’s Unveils Pathetic Brexit Proof Budget

October 12, 2016 Share Print 0

Ireland’s finance minister unveiled his “Brexit-proof” budget on Tuesday, but business groups and the opposition said it failed to protect the economy from the likely impact of its main trading partner, Britain, quitting the European Union.

The 2017 draft budget cuts taxes and increases spending by 1.3 billion euros, and includes measures to help exporters already suffering from a dive in the value of sterling that is squeezing their profit margins.

“The UK’s decision to exit the European Union represents a real risk to our economy,” Finance Minister Michael Noonan told parliament as he presented a budget aimed at shielding Ireland’s strong economic recovery.

Reuters

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.