The report, entitled "An Economic Evaluation of Foot and Mouth Disease", which was produced in March 2002, relates to a study undertaken of the economic evaluation of the effects of the 2001 FMD outbreak, with particular reference to
the economic impacts of FMD and the control measures introduced on the main sectors affected and on the Exchequer; and
an estimate of the likely economic impacts on these sectors if the control measures had not been taken.
The report sets out in detail the costs and benefits across the various sectors of the economy in respect of the single outbreak which was contained. The overall conclusion was that had a widespread outbreak occurred, overall GDP would have been reduced by between 0.96% (€1 billion) and 5.4% (€5.6 billion) through the impact on the agriculture sector. A widespread outbreak would also have had significant negative implications for the tourism sector and for non-tourist-related elements of the domestic economy such as sporting events.
My Department updates its contingency plans on an ongoing basis to ensure that measures are in place to contain potential outbreaks of exotic diseases so as to keep disruption of all trade to the minimum.