Public policy centre

Welcome to Chartered Accountants Ireland’s public policy centre.

We use our research to inform the public policy debate both nationally and internationally.

Read about the public policy issues making headlines this week across the world including a chance to give your opinion on the public risks facing Ireland. Give your opinion on the public risks facing Ireland The Irish Government has published the Draft National Risk Assessment for 2019 and is asking members of the public to give their views about what they regard as the most significant risks facing Ireland in 2019. Climate change, international trade tensions, Brexit and international tax changes are some of the potential risks facing Ireland. Chartered Accountants Ireland is encouraging members to express their views by completing a questionnaire.  The closing date is Tuesday 25 June 2019.  You can access the questionnaire using this link and can also read the statement accompanying the consultation. Don’t say we didn’t warn you That’s the message from China to the US this week when it threatened to cut off rare earth minerals as a countermeasure against the escalating trade war with the US. The rare earth materials are a critical component in the manufacture of iPhones and electric vehicles in the US. The People’s Daily which is the official newspaper of the Communist Party of China reportedly published “We advise the U.S. side not to underestimate the Chinese side’s ability to safeguard its development rights and interests. Don’t say we didn’t warn you!” in a piece titled “United States, don’t underestimate China’s ability to strike back.” Back to Brexit – car production falls dramatically in the UK Car factories shut down last month in the UK to cope with disruption from a 29 March Brexit and this resulted in UK car production being cut in half for the month of April.  Car factories normally incorporate a shutdown period over the summer but this was brought forward to April to cope with the supply chain disruption that Brexit might have brought and give manufacturers time to learn new customs procedures.   According to the Society of Motor Manufacturers and Traders (SMMT), despite the fact that Brexit was delayed until 31 October, the postponement came too late for factories to change plans, prompting a dramatic reduction in output. EU negotiator to lead trade unit The EU’s deputy Brexit negotiator, Sabine Weyand, will lead the EU Commission’s trade unit in Brussels from June. This means she will be front and centre in the future talks with the UK on its future relationship with the EU after Brexit.  Read more.  

May 30, 2019

Individual country results continue to be finalised across the EU in the European Parliament elections. The results so far reflect a boost for Green and far right parties with centrist groups suffering but perhaps not as much as predicted. EU results – rise of the Greens Across the EU, after voter decline in recent years, turnout for the 2019 elections is the highest in 20 years.  The results look as though the centre-right European People’s Party (EPP) and centre-left Socialists and Democrats (the S&D) parties in the Parliament have lost their combined majority as Greens, liberals and nationalists see an increase in support.  Pro-EU parties will still hold a majority of seats, despite the rise in support for populist and far-right parties. Keep up to date with the election results as they are finalised on the European Parliament’s website. The results in Ireland are as follows: Dublin South  Midlands – North - West Ciaran Cuffe – Green Party Sean Kelly – Fine Gael Mairead McGuinness – Fine Gael Frances Fitzgerald – Fine Gael Billy Kelleher – Fine Fáil Luke ‘Ming’ Flanagan – Independent Clare Daly – Independents for Change Grace O'Sullivan - Green Party Matt Carthy – Sinn Féin Barry Andrews* – Fine Fáil  Deirdre Clune* - Fine Gael Maria Walsh – Fine Gael   *will only take up seat when the UK leaves the EU. Northern Ireland Martina Anderson (Sinn Féin), Diane Dodds (DUP) and Naomi Long (Alliance Party) took the three seats in Northern Ireland. Britain In Britain, Nigel Farage’s new pro-Brexit Party was the big winner so far in the European Parliament elections taking almost a third of the vote (30.75 percent), followed by the pro-European Liberal Democrats (19.76 percent).  It was a difficult election for the Conservative and Labour parties with the Tories recording 8.85 percent of the vote; its lowest since 1832.  With both pro and anti-Brexit parties topping the polls in the UK, these results might be a reflection of just how tight a second Brexit referendum result could be. Voter turnout Turnout across the EU averaged 51 percent with Belgium recording the highest number of voters with almost 89 percent of the electorate turning out.  Ireland recorded 49.7 percent turnout, while the UK had 36.90 percent.  Slovakia had the lowest turnout in terms of voters with 22.74 percent. 

May 30, 2019
Tax

After a few weeks of relative quiet on the Brexit front, we are back this week with our Brexit Bulletin with the news that UK Prime Minister Theresa May will resign as leader of the Conservative Party on 7 June with “deep regret”.  Last week, she had made a plea to MPs to save her Brexit deal saying she has “tried everything” to get an agreement through and she deeply regrets that she could not find consensus in the Parliament.    During her embattled speech to save her Brexit deal, Theresa May made a last-minute appeal to MPs to agree to her Brexit plan, promising that she will give them a vote on whether to call another referendum to ratify the UK’s departure from the EU.  However her plea has fallen on deaf ears and that plan has now been abandoned with the announcement of her resignation on Friday morning.  The process to find a new leader (who will automatically become Prime Minister) will begin on 10 June and Mrs May will remain as Prime Minister until a new leader is found.  The new leader will then have to seek consensus from MPs to move Brexit forward. No –deal planning You can read how to prepare for a no-deal Brexit on our Brexit webcentre. Brexit webinar ICAEW are hosting a 1 hour Brexit webinar on 5 June. Sign up using this link.

May 27, 2019

Pensions in Ireland - A responsible way forward

A significant majority of Chartered Accountants are worried about Ireland's pension deficit and favour pension auto-enrolment to guard against poverty in retirement.

In its research report, Chartered Accountants Ireland examines the challenge of an ageing population in Ireland, the reasons that some private sector workers do not provide for their pensions and also looks at a number of different pension funding models used in other countries.

Chartered Accountants Ireland has over 26,000 members working in every sector on the island of Ireland, and is uniquely placed to identify the challenges that the pension deficit will bring.

Read our report on the PDF below.

CTA - Pensions in Ireland-min
NEWS BODY - Pensions in Ireland A responsible way forward-min

Seminar : Pensions under the spotlight
Chartered Accountants Ireland’s members engaged in a comprehensive discussion on the private pension crisis in Ireland at a seminar with Institute President Shauna Greely held in Dublin last Tuesday evening (6 March 2018). 

The event also saw the formal launch of the Institute’s report Pensions in Ireland: A responsible way forward which advocates auto-enrolment. View photos from the event >>>