CHAMBERS IRELAND 2015 FOREWORD
if we do not invest more. Having the infrastructure in place to support increased economic output and activities is critical to our future. Furthermore, an increase in capital expenditure will support employment in a number of sectors. At local level, a positive change which will lead to increased efficiencies was the enactment of the Local Government Reform Bill during the 2014 local elections. Town councils have been subsumed into their city and county councils while Limerick and Tipperary Councils are both now fully merged. We will continue to support the mergers of further councils, particularly of Cork City and County which is currently under review. We will also continue to work very closely with the newly established Local Enterprise Offices to ensure they deliver a compatible range of services with our Chambers around the country. At European level, quantitative easing has the potential to support those countries coming out of recession, promote growth and build a stronger Eurozone. It will also have benefits for Ireland in raising inflation modestly towards the ECB target of close to 2 per cent which will in turn assist in improving our critical debt/GDP ratio. If quantitative easing helps to revive the eurozone, it will also have knock on benefits for Irish exporters. The almost inevitable likelihood of a more competitive euro exchange rate will help those looking to export to non-euro markets such as the UK and the US. And our tourism market should also receive a boost from those same markets. While all of this is good news for Irish business, our position can only be strengthened by the advancement of the EU/ US Trade Agreement negotiations which, if delivered, is expected to add up to â‚Ź187 billion to the European economy and at least 1 per cent growth in GDP in Ireland. This is just a trade deal, not a new EU Treaty and we need to get it done with minimum fuss. You can read more about the importance of this later on in the yearbook. On a global level, Chambers Ireland has joined our colleagues in the International Chamber of Commerce (ICC) to take part in the B20 engagements under the chairmanship of Turkey this year. The B20 is the business arm of the G20, providing a channel for
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Ian Talbot, Chief Executive, Chambers Ireland
businesses worldwide to support the G20 agenda. Chambers Ireland remains at the forefront of promoting the best for business at local, national and international level. Attending the launch in Istanbul in December, what struck me most was that the range of global issues being discussed such as competitiveness, debt, and free trade are identical to our own issues. The Irish situation is not unique and it is important to look at and work with our global counterparts for the best options to move on from these problems. In fact our flexibility and the nature of our small, open economy is what is helping to facilitate our current progress. By this time next year, it’s inevitable that a general election will be a hot topic, although whether it will already have taken place or will be looming on the horizon is impossible to predict. Chambers Ireland will be launching our own manifesto ensuring that what is best for business does not get lost among the issues. It is important that the difficult steps we have made towards our recovery are built upon rather than wasted in the horse trading and pork barrel politics that can manifest themselves in the run up to a general election. It is vitally important that Budget 2016, to be delivered in October 2015, reflects economic realities, not election politics. Ultimately, what we need from Government is stability. Government needs to capitalise on our recovery and have the authority and mandate to keep driving forward the reform agenda. I confidently expect this foreword next year to be dedicated to the great strides that Ireland has made in 2015.
InBUSINESS | YEARBOOK 2015
25/02/2015 15:19