The economy is booming, but it’s all down to foreign giants

A worried government has brought in the OECD to help Irish SMEs up productivity and wages and reduce our dependence on large American multinationals

‘We don’t have the right incentives for people to come out of employment and start their own business . . . We don’t reward risk’ Pic: Shutterstock

On the face of it, the Irish economy has been performing exceptionally well in recent years. But the government is increasingly worried that the success of the US multinationals has disguised just how poorly many of our home-grown businesses are performing.

The National Risk Assessment – an annual report which outlines dangers to the country on everything from the environment to fake news – warned that there are “prevailing and increasing gaps” between ...