Economic policy is rooted in the belief that government should be involved in some, if not all, financial decisions regarding local, state, and national economies. Economic policy may refer to interest rates, tax policy, government spending, as well as economic development and trade policies.

Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth. To its east is the larger island of Great Britain, from which the Irish Sea separates it.