Budget 2017: A most reassuring budget for the big multinationals

In his Budget 2017 speech Michael Noonan was attempting to balance the support he could give for foreign-owned multinationals, large Irish corporations and small business, all of whom depend on a competitive trading base for selling internationally.

The big issue on what supports he would offer to exporters reliant on the UK market, who are facing upwards of 18% erosion in their profit margin due to the fall in the value of sterling since the Brexit, was effectively dodged.

Fianna Fáil finance spokesperson Michael McGrath — speaking after the budget — summed it up succinctly with his comment the “package was pathetic”. And many exporters will agree with his comment that without strong government support they “will simply not survive”.