Thursday 14 December 2017

Donohoe is right - we must consider tax cuts to mitigate effects of Brexit

Public Expenditure Minister Paschal Donohoe wants future income tax cuts as a way to keep current jobs in Ireland and attract new talent. Photo: Tom Burke
Public Expenditure Minister Paschal Donohoe wants future income tax cuts as a way to keep current jobs in Ireland and attract new talent. Photo: Tom Burke
John Downing

John Downing

To paraphrase Winston Churchill, we may this week reach "the end of the beginning" on this Brexit marathon, which we have already lived with since the shock referendum result on June 23 last year.

If British Prime Minister Theresa May gets the right result in parliament today, then EU-UK divorce proceedings, the so-called Article 50 exit negotiations, could finally be triggered as early as tomorrow.

Thereafter, you are talking about two years to formalise some kind of big-picture British departure deal by spring 2019. Many important, detailed arrangements will probably take several more years to complete. Hence the parallel with Churchill's war-time speech in 1942 after a rare big British victory at El Alamein in Egypt against the Germans.

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