Ibec costs Brexit crash-out budget at €1.3bn

The country’s lure of a competitive corporation tax rate is about to run its course and a new focus on Irish-owned businesses is called for as Brexit looms, Ibec has said.

An additional €500m a year over each of the next three years will be needed to offset any crash-out Brexit, the business group said. In a pre-budget analysis, the business group warned the Government will no longer be able to rely on the huge corporation tax bounties that helped plug spending overruns in healthcare over recent years.