Many high-ranking Irish businessmen welcomed the underwhelming electoral performance of Sinn Féin in the recent local elections, as it was an unexpected development after four years of promising poll numbers indicating a possible Sinn Féin-led government. A top boss communicated to Cantillon his approval of the continued stability this week.
On the other hand, the elections are perhaps up to nine months away, giving Sinn Féin the chance to rebound from this election setback, having managed to secure only a tad less than 12% of the local votes. However, Fine Gael and Fianna Fáil could see this as an opportunity to move quickly, taking advantage of their strong showings last week. The Green Party may not share their enthusiasm, having lost half of its council seats and all of its placements in Europe.
Sinn Féin has been conducting a campaign to charm US multinational corporations that have invested in Ireland as well as local enterprises (which included a briefing with Davy last month) to reassure its dedication to our corporate tax rate and to implement pragmatic strategies to preserve the Irish economic growth trajectory. This is crucial considering a thriving Irish economy is imperative in financing a united Ireland, the prime agenda for Sinn Féin.
Independent candidates also had a victory in the local elections, managing to garner 28% of the total votes. Should these voting trends persist into the general elections, the Opposition could certainly look quite varied.
Such a scenario doesn’t appeal to Danny McCoy, CEO of the employers’ group Ibec. When enquired about his thoughts on the election, he underscored the necessity of a “unified opposition for substantial involvement in the legislative process.” He further explained, “political segmentation presents increasing difficulties for committee processes in Oireachtas and for active stakeholder input as well as examination of new laws.”