The Institute of Directors (IoD) in Ireland, the membership body representing 3,000 directors and business leaders, has this afternoon issued the following statement with reference to the Government’s Budget 2020, as delivered by Minister Paschal Donohoe.
In its recent Director Sentiment Monitor survey, the IoD found that business confidence has been severely impacted by the political and economic uncertainty surrounding Brexit as the October 31st deadline looms large.
In particular, 89% of respondents thought ‘the Government should deliver a conservative Budget in October in expectation of a no-deal Brexit’.
Maura Quinn, CEO, IoD Ireland, said:
"Our quarterly surveys have found that business confidence has been in virtual freefall over the past twelve months, and it has intensified as we approach the Brexit deadline. Irish business leaders have been, and are still, worried, and they wanted the Irish Government to take note and deliver accordingly in this Budget. We will take stock as we read the fine print of Minister Donohoe’s Budget, but it looks like the Government has taken on board the concerns of the business community and has delivered the conservative Budget that was required.”