Corporate tax rates remained low, the administrative/red-tape burden on business continued to be limited by comparison with international standards, and various State agencies facilitated business development and adaptation. Increased resources devoted to education from the late 1960s began to bear fruit in an increasingly well-educated population that was seen as a major asset to businesses, particularly in the more high-skilled sectors.
Ireland’s labour market, particularly in the private sector, became increasingly flexible and this helped businesses to cope with changing market conditions. I should also say that Ireland’s membership of the EU contributed to this better economic performance. In a direct sense, EU Structural Funds contributed to the capability of the productive sectors, to the provision of public infrastructure and to education and training.