Policy to outsource finance jobs from Dublin is welcomed
A Kerry TD has welcomed the launch of a new Ireland for Finance strategy aimed at creating thousands of additional jobs in Ireland’s international financial services sector, with a particular emphasis on increasing employment outside Dublin.
The strategy sets a target of 70,000 jobs in the sector by 2030, with 25 per cent of those roles based in regional locations.
Ireland’s international financial services industry currently employs around 61,000 people across more than 600 firms, compared with 35,000 in 2015.
Fianna Fáil Deputy Michael Cahill said Ireland has also become the fourth-largest exporter of financial services in the EU, highlighting the sector’s growing importance to the Irish economy.
The Government strategy sets out 31 actions designed to build on this growth and strengthen Ireland’s position as a leading international financial centre.
These include reducing red tape and simplifying regulation, supporting fintech companies and start-ups, encouraging the use of new technologies, and modernising legislation to attract investment and support emerging areas such as digital assets.
It also places a strong emphasis on climate and sustainable finance, aiming to create new opportunities in this growing area. Overall, the strategy is intended to support continued growth in the financial services sector while ensuring that more of the resulting jobs and investment are spread across the regions.
“In an increasingly uncertain world, we need to build on what works, support Irish businesses and ensure Ireland remains an attractive place for financial services firms to invest and create jobs,” said Deputy Cahill.
“The work carried out by my colleague Minister Troy through this strategy will help drive the next phase of growth in the sector by cutting unnecessary red tape, simplifying regulation, supporting innovation and developing the skills needed for the future.
“The strong focus on regional employment is particularly important. These are high quality jobs that can provide people with an opportunity to build their careers while continuing to live in the communities they grew up in.”
Deputy Cahill said it is important that people have access to ‘exciting and meaningful career opportunities’ regardless of where they live.
“Growing the financial services sector in our regions will help reduce the reliance on Dublin for these opportunities and support more balanced regional development,” he said.