Dublin’s IFSC moves North

New laws will be put in place to extend Dublin’s Irish Financial Services Sector across the border. The announcement came following a meeting between Taoiseach-in-waiting Brian Cowen and Northern First Minister-in-wating Peter Robinson.

Under the plan, companies based in the Irish Republic, which are currently suffering skills shortages, will be able to employ undergraduates in satellite operations situated in Northern Ireland – without the risk of the Dublin’s International Financial Services Centre (IFSC) losing its present tax-exempt status. Some might see this as a further example of the development of an all-Ireland economy while others aren’t overly happy with the idea of possibly up to 5,000 Financial Services jobs leaving Dublin. Then there’s the view that such a move is only helping to make Northern Ireland viable and therefore copperfastening partition. One thing is for certain, it’s good news for Belfast. Mr Robinson says it’s win-win for Ireland, north and south.