Denis O’Brien Urges Radical Action to Prevent Disaster as Hubris Threatens Irish Economy
Denis O’Brien has called for urgent political change to safeguard the Irish economy as it faces critical challenges. Speaking at the Business Post’s Economic Outlook Forum in Dublin, he emphasized that Ireland is at a significant crossroads, urging policymakers to act decisively.
Call for Radical Actions to Prevent Economic Disaster
O’Brien voiced deep concerns about the current state of the Irish economy, predicting an impending downturn. He criticized the public sector for its lack of urgency compared to the private sector, stating, “We live in a two-speed Ireland.” He emphasized the need for political leadership, accountability, and a radical sense of urgency in addressing economic issues.
Challenges in Planning and Infrastructure
The businessman highlighted that Ireland’s planning laws are a significant barrier to progress. O’Brien lamented lengthy delays and judicial reviews, which are commonplace, suggesting that reforms could be passed swiftly if efforts were made.
- Planning laws causing delays in economic development.
- Housing identified as a major impediment to future growth.
- Calls for reforms to pass efficiently by the end of the year.
He recalled how quickly the Examinership legislation was enacted in 1989 to save the beef processing industry and called for similar urgency in addressing current issues. “The Taoiseach and the Tánaiste need to drive this agenda forcefully,” he insisted.
Private Sector Solutions
O’Brien proposed leveraging the private sector’s capabilities to facilitate change. He mentioned how the late Tony Ryan, founder of Ryanair, could have contributed to resolving governmental blockages. Today, he believes that Ryanair’s current CEO, Michael O’Leary, could take on such a role.
Additionally, he suggested reintroducing a scheme from the 1990s that allowed exchange of senior management between public and private sectors, citing its success.
Critique of EU Bureaucracy
O’Brien criticized the European Union’s bureaucratic inertia and expressed skepticism about real change under the current leadership of Ursula von der Leyen. He believes Europe’s future would be more secure under Mario Draghi’s leadership and advocated for the implementation of his competitiveness report.
Taxation and Economic Inequality
He also addressed the role of Ireland in facilitating global tax systems that favor large corporations while disadvantaging countries like Kenya and Burundi. O’Brien described these tax arrangements as “modern-day digital colonialism” and urged for a serious debate on Ireland’s involvement in such practices.
“These arrangements contribute to gross inequality, creating desperate situations that lead African immigrants to risk their lives to reach Europe,” he noted. He emphasized the need for Ireland to consider how it can meaningfully assist African nations if it continues to enable these tax strategies.
