State will scrap plan in bid to future-proof financial sector

The minister said that many of the companies in the IFS sector that had planned to locate in Ireland, or expand their operations here as a result of Brexit, had already done so.

Mr D’Arcy added that a new strategy was required to ensure Ireland was best-placed to facilitate FDI and investment from financial services companies in North America and further afield which need a foothold in Ireland to access the European Union.

The financial services sector received a boost last week when the Irish-international fintech company, Fexco, announced a significant expansion of its Killorglin, Co Kerry, headquarters, creating 175 new jobs over three years.