John Walsh: With a downturn on the way, the government must focus on the things it can control

There’s not much Ireland can do about the growing list of threats to the corporate tax that we rely so heavily upon, but the government can try to avoid the mistakes of the past and keep a tight rein on spending

There is very little the government can do about external threats to the economy, but it can keep a tight rein on spending and prioritise investment in areas that will improve competitiveness

Ireland is heading for an economic downturn, but whether it turns into a recession, or something even worse, depends on events that the government has absolutely no control over and policy decisions where it does.

The slump among technology firms was always going to affect Ireland disproportionately, as it is one of the most open, globalised economies in the world with a huge dependence on foreign direct investment (FDI).

But there is a big difference ...