• Current students
      • Student centre
        Enrol on a course/exam
        My enrolments
        Exam results
        Mock exams
        Learning Hub data privacy policy
      • Course information
        Students FAQs
        Student induction
        Course enrolment information
        Key dates
        Book distribution
        Timetables
        FAE Elective Information
      • Exams
        Exam Info: CAP1
        E-assessment information
        Exam info: CAP2
        Exam info: FAE
        Reasonable accommodation and extenuating circumstances
        Timetables for exams & interim assessments
        Interim assessments past papers & E-Assessment mock solutions
        Main examination past papers
        Information and appeals scheme
        JIEB: NI Insolvency Qualification
      • CA Diary resources
        Mentors: Getting started on the CA Diary
        CA Diary for Flexible Route FAQs
      • Admission to membership
        Joining as a reciprocal member
        Conferring dates
        Admissions FAQs
      • Support & services
        Recruitment to and transferring of training contracts
        CASSI
        Student supports and wellbeing
        Audit qualification
        Diversity and Inclusion Committee
    • Students

      View all the services available for students of the Institute

      Read More
  • Becoming a student
      • About Chartered Accountancy
        The Chartered difference
        What do Chartered Accountants do?
        5 Reasons to become a Chartered Accountant
        Student benefits
        School Bootcamp
        Third Level Hub
        Study in Northern Ireland
        Events
        Blogs
        Member testimonials 2022
        Become a Chartered Accountant podcast series
      • Entry routes
        College
        Working
        Accounting Technicians
        School leavers
        Member of another body
        International student
        Flexible Route
        Training Contract
      • Course description
        CAP1
        CAP2
        FAE
        Our education offering
      • Apply
        How to apply
        Exemptions guide
        Fees & payment options
        External students
      • Training vacancies
        Training vacancies search
        Training firms list
        Large training firms
        Milkround
        Training firms update details
        Recruitment to and transferring of training contract
        Interview preparation and advice
        The rewards on qualification
        Tailoring your CV for each application
        Securing a trainee Chartered Accountant role
      • Support & services
        Becoming a student FAQs
        Who to contact for employers
        Register for a school visit
    • Becoming a
      student

      Study with us

      Read More
  • Members
      • Members Hub
        My account
        Member subscriptions
        Annual returns
        Application forms
        CPD/events
        Member services A-Z
        District societies
        Professional Standards
        Young Professionals
        Careers development
        Diversity and Inclusion Committee
        Overseas members new test
      • Members in practice
        Going into practice
        Managing your practice FAQs
        Practice compliance FAQs
        Toolkits and resources
        Audit FAQs
        Other client services
        Practice Consulting services
        What's new
      • Overseas members
        Working abroad
        Working in Australia
        Overseas members news
        Tax for returning Irish members
      • In business
        Networking and special interest groups
        Articles
      • Public sector
        Public sector news
        Public sector presentations
      • Support & services
        Letters of good standing form
        Member FAQs
        AML confidential disclosure form
        CHARIOT/Institute Technical content
        TaxSource Total
        The Educational Requirements for the Audit Qualification
        Pocket diaries
        Thrive Hub
    • Members

      View member services

      Read More
  • Employers
      • Training organisations
        Authorise to train
        Training in business
        Manage my students
        Incentive Scheme
        Recruitment to and transferring of training contracts
        Securing and retaining the best talent
        Tips on writing a job specification
      • Training
        In-house training
        Training tickets
      • Recruitment services
        Hire a qualified Chartered Accountant
        Hire a trainee student
      • Non executive directors recruitment service
      • Support & services
        Hire members: log a job vacancy
        Firm/employers FAQs
        Training ticket FAQs
        Authorisations
        Hire a room
        Who to contact for employers
    • Employers

      Services to support your business

      Read More
☰
  • Find a firm
  • Jobs
  • Login
☰
  • Home
  • Knowledge centre
  • Professional development
  • About us
  • Shop
  • News
Search
View Cart 0 Item

News

  • Home/
  • News
☰
  • News
  • News archive
    • 2020
    • 2019
  • Press releases
    • 2022
    • 2021
    • 2020
  • Newsletters
  • Press contacts
  • Media downloads
  • Podcasts Chartered Accountants Ireland
  • Budget day news

Public Policy Bulletin, 27 November 2020

Nov 27, 2020

In this week’s Public Policy news, read about the launch of the Ireland for Finance 2020 Action plan; the stark warnings from the Environmental Protection Agency on Ireland’s progress towards its climate targets; and the forecast for the biggest decline in the UK economy in 300 years. 

Launch of ‘Ireland for Finance 2020’ Action Plan

The Ireland for Finance 2020 Action Plan was launched this week, the first to be published since the formation of the new Government in June of this year. The new Programme for Government, committed to complete the ‘Ireland for Finance Strategy’ for the development of Ireland’s international financial services sector to 2025.

The plan has been updated since its initial development in December 2019 to take account of the passage of time and the unprecedented challenge of COVID-19 and the continued requirement for Brexit-readiness. The vision of the plan is to ensure that Ireland continues to be a top-tier location of choice for financial services companies, to enhance our competitiveness, and for Ireland to  be at the forefront of positive industry developments in products, services and operational models.

Launching the plan, Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Sean Fleming TD said that the progress made on important measures for International Financial Services during the year is reflected in “the resilience the sector has shown in the face of the pandemic,” and that attention must now be focused on the future and how the potential of the industry can be maximised as the economic recovers.

Stark warnings from the Environmental Protection Agency

The publication this week of the Environmental Protection Agency (EPA) Ireland's Environment 2020 - An Assessment provides an update on the environmental challenges that Ireland faces both nationally and globally. The report, which publishes every four years, found that Ireland is still heavily reliant on fossil fuels and is falling seriously behind in protection of natural habitats. It also found that raw sewage is being dumped into water from 35 towns and villages, leaving only 20 of Ireland’s more than 3,000 rivers, streams and tributaries unpolluted.

The report noted that Ireland cut only  4.5 percent of its greenhouse gas emissions in 2019. This signals a significant challenge to the Government as it seeks to make Ireland carbon neutral by 2050, which it plans to do by, among other measures, cutting overall greenhouse gas emissions by 7 per cent annually for the next decade. The report called for the implementation of solutions across all sectors of society through an overarching environmental policy position, and predicted that a decade of action is needed to put things right.

UK economy forecasted for biggest decline in 300 years

Describing the impact of COVID-19 as an “economic emergency” UK chancellor Rishi Sunak reportedly warned that the pandemic will damage both growth and jobs, with official forecasts  predicting the biggest economic decline in 300 years.

The outlook is for a contraction of the UK economy by 11.3 percent this year, with no return to pre-crisis levels until the end of 2022. It also expects a rise in Government borrowing to reach levels that are record for peacetime, to deal with the economic impact.

According to the Office for Budget Responsibility (OBR), the UK government’s independent forecaster, the number of unemployed people will rise to 2.6 million by mid-2021, with the unemployment rate reaching 7.5 percent, its highest level since the 2009 financial crisis.

Read all our updates on our Public Policy web centre.

 

The latest news to your inbox

Useful links

  • Current students
  • Becoming a student
  • Knowledge centre
  • Shop
  • District societies

Get in touch

Dublin HQ

Chartered Accountants
House, 47-49 Pearse St,
Dublin 2, D02 YN40, Ireland

TEL: +353 1 637 7200
Belfast HQ

The Linenhall
32-38 Linenhall Street, Belfast,
Antrim, BT2 8BG, United Kingdom

TEL: +44 28 9043 5840

Connect with us

Something wrong?

Is the website not looking right/working right for you?
Browser support
CAW Footer Logo-min
GAA Footer Logo-min
CCAB-I Footer Logo-min
ABN_Logo-min

© Copyright Chartered Accountants Ireland 2020. All Rights Reserved.

☰
  • Terms & conditions
  • Privacy statement
  • Event privacy notice
  • Sitemap
LOADING...

Please wait while the page loads.