CEO Update: Turning to the next challenge

Dear member,

The Government’s publication today for a plan to live with Covid under the title of “Resilience and Recovery” outlines a codified approach and sensible process for balancing the economic with public health dimension. The time for business to take a coordinated and leadership position to assert that, while working from home is possible in many instances, it is essential for many organisations to have the flexibility to operate out of the office environment too. Indeed, it is this essentiality that needs a unity of communication from our membership base and one we will be advancing in the coming weeks. It is positive to note the intention to coordinate international air travel among EU member states, given the importance of connectivity to Irish business.

The devastation COVID-19 has dealt the world will test Ireland’s economy and society in ways in which we have never experienced before. Now is therefore the time for big ideas, brave thinking and a bold approach – all of which Ibec has brought to bear in our submission for Budget 2021. These proposals will enable the economy to resurge stronger, more sustainable, allowing Irish business and society to thrive.  

Ibec is calling on Government to ensure that emergency supports, which are due to be withdrawn from the economy in the first half of 2021, are followed by a new stage of policy measures to support the economic recovery throughout the duration of the public health crisis. Ibec’s view is that the continued package of supports into 2021 will need to be in the region of €6 billion. Ibec’s Budget 2021 submission also includes for a range of other policy priorities including:   

•  Preparing for a no-deal Brexit 

•  Getting people back to work and business investing 

•  Ensuring our inward and outward FDI model remains competitive 

•  Investing in quality of life and the low carbon transition 

The National Economic Plan (NEP), which is set to be published later in the year must be based upon a number of high level benchmarks for recovery in consultation with stakeholders, rather than a single economic forecast. Ibec is also calling for the establishment of new institutional arrangements to help get the country back up and running, based on regular and intensive consultation with stakeholders. 

The Ibec board and I will reiterate these points in a meeting with Ministers Paschal Donohoe and Michael McGrath, which takes place later this week. We will also engage with key stakeholders across society and politics in this short window leading to Budget day. As always, we ask individual businesses to support these priorities and to use every opportunity to voice them, to build consensus within our communities and to fly in sequence. 

Please find attached below Ibec’s Budget 2021 Submission, along with a slide deck with key messages to support you in what I hope to be a collective endeavour in the run up to October 13.

Best wishes, 

Danny McCoy

Ibec CEO