Friends First chief economist Jim Power has warned that policy makers must place more emphasis on supporting the home-grown economy in order to reduce reliance on volatile corporation tax receipts. Friends First chief economist Jim Power has warned that policy makers must place more emphasis on supporting the home-grown economy in order to reduce reliance on volatile corporation tax receipts. In its latest economic assessment, the insurer said global corporation tax developments, fuelled by pressure from other EU member states, as well as US President Donald Trump's increasingly protectionist policies, present the potential to pressurise Ireland's FDI model over the coming years. However Friends First warn that uncertainty around Brexit as well as global corporate tax developments present potential challenges to the Irish economy in the coming year. The global economic background is looking increasingly better and most domestic indicators are positive.

Source: Irish Independent December 06, 2017 11:26 UTC