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Ibec issues Future of Europe report to Oireachtas Committee

Wednesday, 28 March 2018

Ibec, the group that represents Irish business, today outlined its priorities on the Future of Europe to the Joint Committee on European Union Affairs and said Ireland's economic fortunes demand an outward-looking, dynamic and successful EU. Ibec Director of EU and International Affairs Pat Ivory told the Committee that the EU remains a model of global success. It should carry on with ongoing positive reform, rather than embark on a radical change of direction.

Mr Ivory said: “We need more cooperation in areas where there is a clear collective benefit. This includes completing the single market, digitalisation and global trade. However, in areas such as taxation, labour market and social policy, individual governments should be allowed to tailor policy to domestic needs.”

In his address, Mr Ivory set out Ibec’s Future of Europe priorities:

Unleash potential of the Single Market: “While the EU has created vast new opportunities for business, there’s much more to do. By completing the digital single market, the capital markets union and banking union for example, the EU could create massive new economic opportunities, advance growth and raise the living standards of citizens across Europe.”

Lead the world in trade and investment: “The EU should continue to advance ambitious, balanced trade deals with key partners. This should include a comprehensive and ambitious future trading relationship with the UK, as well as deeper trading and investment partnerships with the US, Canada and Japan. New trade deals should facilitate cross-border data flows and unlock the potential of EU business in a digitised world.”

Embrace competitive taxation policy: “We need dynamic, competitive markets across the EU to ensure companies, economies and member states can harness innovation and attract investment. Member states must have the power to choose tax strategies that best meet their economic needs.”

Respect member state competency to design labour market and social policy: “The EU must focus on areas where it can have real added value to societies. By keeping labour and social market policy at a member state level, national governments and policy makers can best consider local labour market realities, demographics and citizen’s needs.”