Top Strategic Risks Facing Ireland Revealed

The Government has today published the annual National Risk Assessment detailing the most significant issues facing the country this year.

A range of economic, geopolitical, environmental, social, and technological risks were identified with Brexit, Climate Change & Biodiversity, and International Trade Tensions featuring strongly.

Notably, this year's report includes a stronger focus on the potential risk of a no-deal Brexit and the impact that could have on the Irish economy and on stability in Northern Ireland. It also gives particular attention to risks from emerging spending pressures which must be closely monitored and controlled, to ensure that our public finances remain sustainable and stable.

In addition, risks arising from perceived rural and regional imbalances, the capacity of the Higher and Further Education system, and skilled labour shortages in the economy are also discussed under the Social Risks category.

For some of the risks which were present in previous years, greater public awareness and an increased sense of urgency and responsiveness can be felt this year, as for example in the case of 'Climate Change & Biodiversity', 'Cyber-Security', and the 'Impact of Social Media on Public Debate'.

A short thematic piece is also included, which takes a deeper look at one of the risks, 'An Ageing Population including pensions and health system challenges' and details the impacts that Ireland's ageing population will have across a range of sectors, including pensions, healthcare, education, and housing, as well as potential impacts for the public finances and productivity levels.

The first National Risk Assessment was published in 2014, and since then it has highlighted a number of important issues, including the earliest official acknowledgments of the risks arising from a potential Brexit, and risks in the housing sector.