Jobs plan warns of external shocks and threats to Irish economy

The Government is warning in its latest jobs plan that Ireland faces external shocks and threats to its economy this year.

Minister for Jobs Mary Mitchell O’Connor will launch her department’s Action Plan for Jobs this week, reaffirming the Government’s commitment to create 200,000 jobs by 2020. The plan, which was presented to Cabinet last week, will warn of the “highly uncertain external environment” and the challenges that poses for Ireland.

It will outline a series of risks, most notably the threat of Brexit and the uncertainty about what Ireland’s trading relationship with the UK will be.

It also sees developments in international tax policy as a direct threat to Ireland's ability to attract investment. US president Donald Trump has indicated he will reduce corporation tax to 15 per cent to prevent companies leaving the US.

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The plan will stress that Ireland is a small open economy and is exposed to fluctuations in the global economy which it has little or no direct control over.

Economic resilience

It will outline the need to build “economic resilience so as to strengthen our ability to absorb, adjust and respond to severe shocks”.

The plan will commit to more support for companies exporting to the UK, and to take a number of actions on diversification of markets.

Ms O’Connor will promise to create 45,000 jobs this year alone, and stress the Government will achieve its target of reaching 200,000 jobs by 2020, with 135,000 of these outside Dublin.

It will also promise to fund courses for women wishing to return to the labour market and to poverty-proof the plan.

The plan is accompanied by the Pathways to Work strategy which assists people from welfare to work.

Target

Minister for Social Protection

Leo Varadkar

on Sunday claimed the Government exceeded its 2016 target to help 20,000 people back into employment by an additional 6,000 people. He said he would make a similar target for 2017.

“My goal is to bring long-term unemployment to below 2.5 per cent over the lifetime of this Government. That’s why we intend to help at least another 20,000 people on welfare to find work in 2017.

“I am determined to make more changes for the better this year to ensure that the benefits of economic recovery are felt by every individual, household and region in the country through reduced unemployment, higher living standards and enhanced social protection.”