DUBLIN (Reuters) - There is nothing catastrophic on the horizon for Irish fiscal policy as a result of Britain’s vote to leave the European Union, but the hit to economic growth could limit budgets beyond next year, Finance Minister Michael Noonan said on Friday.
“What I’m confident about is that we can plan the next budget and the one after with minimal effect and then there are a lot of circumstances that could change from then on out. There is nothing catastrophic for Irish fiscal policy on the horizon,” Noonan told national broadcaster RTE.
Noonan said there may be some upsides for Ireland if companies keen to stay in the EU moved to Dublin from London and a contingency plan published by the government stated that it would intensify marketing efforts in key sectors, including financial services, for firms wishing to be based in the EU.
Reporting by Padraic Halpin; Editing by Alison Williams