Dublin will struggle to adjust to Brexit

McAuliffe, who chairs the City Council’s Enterprise and Economic Development Committee, said that in all too many respects, Dublin City is neither ready to weather the economic storm that could potential ensure nor gain from the opportunities that may arise.

The report warns that pre-existing capacity and infrastructure deficits will act as a limiting factor on the city’s ability to gain from the move.

Speaking ahead of the report’s publication, Cllr McAuliffe said: “Simply put, if positive economic winds blow in the right direction, Dublin City’s sails are at half mast, and we aren’t ready to capitalise on the opportunities that may arise.

“The city is creaking at the first sign of economic growth. Anyone living in Dublin knows that there are major issues affecting the city; over the last six years central government has failed to invest in transport infrastructure, education, and social amenities.

“How can we attract major financial services companies to relocate from the UK to Dublin when we don’t have enough homes for them, and the ones that we do are seeing massive rent hikes.

“While many contributors to the summit last year underlined the City Council’s role as a planner and regulator, it still requires central government to invest.

“Dublin’s ability to take advantage of opportunities was the most common theme from all speakers.

“There was considerable scepticism of the capacity of the existing infrastructure in the city to bear that extra weight that might arise from relocations to the capital.”

He added: “Standing still isn’t good enough. We require increased investment with regard to housing, transport, and hotel and office space.

“The Summit was the first public initiative of its kind in Ireland, and it has laid the groundwork for all of us who care deeply about the economic and social future of our capital city.

“There can, and will, be opportunities for Dublin City to seize when the UK leaves the European Union. However, there can be no doubting the sheer number of challenges the city faces in attracting investment from those who are leaving the UK, or from those looking for a new European headquarters.”

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