20231214-IMF-Ireland_Selected_Issues_46页_1mb

报告摘要

IRELAND

SAFEGUARDING FISCAL SUSTAINABILITY AND MODERNIZING JUDICIAL REVIEW OF INVESTMENT PLANNING

Key Findings

Fiscal Policy: Ireland’s fiscal position has ensured resilience through corporate income tax (CIT), but CIT revenues are concentrated and vulnerable to volatility. Proposed savings and counter-cyclical funds aim to address fiscal sustainability while supporting public investment.
SWF Design: Ireland should integrate its new funds into a strong fiscal framework, referencing international best practices like the Santiago Principles. Flexibility in operational rules is needed but must align with fiscal policy.
Judicial Review: Reforms in the Planning and Development Bill 2023 aim to streamline the judicial review process, including tighter timelines and governance improvements to reduce delays in planning approvals.

Judicial Review of Investment and Planning Decisions

Ireland’s judicial review system has been a bottleneck for public investment, with delays in planning permissions and frequent appeals undermining efficiency.
Proposed reforms include mandatory timelines, specialized courts, and measures to reduce bureaucratic hurdles, aligning with international practices to enhance efficiency.

Boom Without Disease? Impact of MNEs in Ireland

MNEs have driven high-paying jobs and tax revenues but with limited productivity spillovers and minimal linkage to domestic firms.
Empirical analysis suggests limited evidence of Dutch disease symptoms but weaker linkages with indigenous economy, raising concerns for sustainable growth.

Housing Affordability in Ireland

Housing affordability remains a pressing issue due to supply constraints, high construction costs, and regulatory barriers.
Recommendations include increasing housing supply through zoning reforms, digitalizing construction, and phasing out rent controls in favor of targeted subsidies.

Conclusion

Ireland’s fiscal and investment reforms hold potential for enhancing long-term stability, but structural constraints in housing and limited MNE linkages require comprehensive policy responses.

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