Noonan slams party critics over Brexit performance

FINANCE minister Michael Noonan has dismissed claims by critics in Fine Gael and in Fianna Fáil that the country’s plan to attract jobs in financial services after Brexit was not working and that he is the problem.

The State’s performance was raised by Fianna Fáil Brexit spokesman Stephen Donnelly, who claimed that when it comes to securing UK firms ‘Ireland has fallen from first to third or fourth’.

Mr Donnelly warned a key factor was the absence of a political heavy-hitter to drive the campaign, noting ‘Fianna Fáil has consistently said Brexit warrants a full cabinet post’. Currently, our Brexit campaign in the UK is being led by the Junior Finance Minister Eoghan Murphy.

Concern is growing within Fine Gael that his ‘junior’ status is a drag on Ireland’s attempt to attract serious players into the IFSC.

Senior figures within Fine Gael warned: ‘Our Brexit strategy is like Dad’s Army with Eoghan playing the role of Private Pike. Noonan should be driving this but he is serving out his time. He is in a distracted state.’

They added: ‘Eoghan is good but he hasn’t the stripes. The big firms want the top guy; he’s not it’.

But the Finance Minister sharply dismissed claims the strategy to attract business from the UK is not working.

Mr Noonan said: ‘There is absolutely no basis to that. We have currently 120 inquiries in the financial, insurance and banking areas and the Governor of the Central Bank is quite optimistic about our success rate.’

Mr Murphy, meanwhile, called for realism, warning: ‘There is not going to be a gold-rush to any jurisdiction; this idea a thousand bankers will sail down the Liffey is not a runner’.