Domestic threats to the economy can’t be ignored

Ireland’s economic performance has been excellent over recent years and prospects are good for 2018 despite problems such as the Brexit-related decline in the value of sterling. Confidence of consumers and businesses remains high, writes Tony Foley.

However, there are substantial medium-term risks on the international front and much will depend on the details of the Brexit deal, EU corporate tax changes, and US policy on tax and trade.

The memory and impact of our economic collapse is still so strong that we are inclined to think in terms of recently coming out of recession. In fact, 2017 is the fourth consecutive year of substantial economic growth — even allowing for the GDP measurement problems and the huge artificial growth in 2015 of 25.6%.