Priorities for the July Stimulus and the international backdrop for business

July 17, 2020

Dear Member,

It has been another busy week, both domestically and internationally. Domestically, the delay in the final reopening phase is disappointing for the businesses and employees involved. Coupled with the drift in Government communication on how we can resume safe return to the office environment and how international travel can recommence, it underestimates the significance of the need to restart business connectivity and normalise activity. 

Internationally, this week we had the very significant Apple and Schrems rulings. These are hugely important for Ireland’s highly globalised business model. Publicly, Ibec has noted both these developments. On Apple, we stressed the importance of a transparent and equitable tax model for businesses, while engaging with the Department of Finance and supporting the challenge to the EC of retrospectively applying tax laws. On Schrems, we have encouraged collaboration to ensure a revised framework for the exchange of data between the EU and US.

In an Opinion Piece in today’s Irish Times, I set out what is required from the July Stimulus which is due to be announced by Government next week. We now have a Government in place to enact the necessary stimulus, and this cannot come quick enough. I subsequently outlined the same priorities during an RTÉ Radio One News interview today, which you can listen back to here.

I will be back following the July Stimulus announcement with an update and invitation to attend a members’ briefing on the details.

Enjoy the weekend.

Best wishes,

Danny McCoy