Michael Noonan will not encourage firms to set up ‘brass plate’ operations here
His comments came as the Government came under fire for only holding three meetings of a special Cabinet committee on Brexit since the British vote to leave the EU five months ago.
Taoiseach Enda Kenny will now also hold special talks with Scotland’s first minister Nicola Sturgeon on a joint-approach to dealing with Brexit at a special summit tomorrow in Cardiff, Wales.
Responding to reports yesterday that British big banks have been steered away from relocating to Ireland, Mr Noonan explained that only job-creating firms were wanted here.
“We don’t want brass plate operations that simply come here and screw a brass plate on to a door for tax advantages and don’t have the strong economic activity here that creates jobs, we don’t want that,” he told reporters at a conference in Dublin.
International reports had suggested the Central Bank here was advising big firms they would find it difficult getting regulatory approval to move here.
“There are no restrictions, but obviously we don’t have to take everything that comes,” Mr Noonan added.
Ireland has been tipped as a contender to take thousands of finance jobs from London with Brexit. Countries such as Germany ad France are competing and have wooed banks to move there.
Tomorrow’s British Irish Council summit in Wales will see leaders from eight regions and countries discuss the impact of Brexit.
Elsewhere, Fianna Fáil Foreign Affairs spokesman Darragh O’Brien criticised the fact a Cabinet sub-committee on Brexit had only met three times since the June referendum in Britain.
Their first meeting — led by the Taoiseach — only took place three months after the vote, the Dáil also heard.
It was “outrageous” only three committee meetings had taken place, argued Mr O’Brien. A further meeting of the special committee will be held today.
Mr O’Brien also reiterated a call for a Brexit minister to be appointed.
But Foreign Affairs Minister Charlie Flanagan rejected these calls, saying: “Not only would a separate minister for Brexit be completely unnecessary, the creation of such a post would, as we see from the UK experience, cause significant administrative disruption at a time when we need to be focused on substance.”
Department of Taoiseach top officials were in Brussels yesterday to meet European Commissioner Brexit negotiator Michael Barnier, in what sources said was about “what to expect” when Britain triggers its exit next year.
