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"Brand Ireland was centre stage for Budget" - Professor Damien McLoughlin

Date: 12 Apr 2009

Publication:  Sunday Independent, Short View
Author:  Professor Damien McLoughlin, UCD Michael Smurfit Graduate Business School

Brand Ireland was centre stage for Tuesday’s Budget as the minister set about restoring Ireland’s lustre in the eyes of our international partners.

Negative stories in the international news media can have a profound impact on our financial standing.
Responding to these requires action at two levels.  First is to communicate actions to decision makers and influencers.  Second is to add weight to those communications.

The international road show announced in Tuesday’s Budget will allow Brian Lenihan to communicate directly with current and potential investors and political partners.  While doing this he will have some useful messages to talk about from the Budget.  Among these was the establishment of the National Asset Management Agency.  This scored highly as a reminder of Ireland’s capacity to lead in policy innovation.

Three mechanisms can be used to add weight to these communications.  The first is to implement the Budget measures with as little compromise as possible.  Secondly, our partners should be reminded of Ireland’s demonstrated ability to use innovation in policy and social partnership to drive economic growth.

Finally Ireland must rely upon credible spokespeople to challenge inaccurate financial stories and to ensure the positive aspects of our economic story are emphasised.  In this regard Peter Sutherland’s comments in midweek are the template for others to follow.