Dáil Éireann Debate, Tuesday - 16 May 2017
584. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation if her Department or State agencies under her aegis have completed an analysis on business trade since the Brexit vote in June 2016; if so, the details of such documents and publication dates; and if she will make a statement on the matter. [22738/17]
View answerThe UK’s decision to leave the European Union will have a significant impact on our economy and I have tasked my Department with making Brexit our number one priority. Central to this is understanding those impacts - positive and negative - across all policy areas of my Department and at a sectoral level, particularly in terms of the trade impacts.
In this context, a range of work has been done or is under way.
There have been a number of useful studies published which set out the potential impacts of Brexit, including sectoral assessments (e.g. tourism, agri-food), and many of these are listed on merrionstreet.ie website.
A significant consideration in drawing up the recently published Action Plan for 2017 was Brexit and the changing global trading environment. This year’s plan is at the core of the government’s response to the huge challenge these pose for businesses - to make sure our enterprise base is resilient in the face of changes to come.
In addition, I have recently published the findings of a survey of 1,045 SME business owners which was conducted in January. Analysis of the survey findings along with extensive engagement with stakeholders including the Local Enterprise Offices, Enterprise Ireland, individual businesses and business representative bodies has helped inform policy responses which my Department is now working on. There include the development of a Brexit Working Capital Guarantee Scheme and scoping out the need for a longer term Business Development Loan Scheme which would assist firms in investing for a post-Brexit environment.
Further analysis on Brexit trade impacts by my Department includes:
- funding a research project being undertaken in close cooperation with InterTradeIreland by the ESRI to improve our understanding of the impact on cross border trade of different trade and tariff regimes which might be imposed following Brexit. This will provide useful data on the extent and concentration of cross border trade, including information on this trade by product and firm types and barriers to trade. Work is nearing completion I expect will be published shortly.
- undertaking qualitative research to examine the implications for the most exposed enterprise sectors - in terms of trading and economic relationships - of the UK being outside of the European Single Market and Customs Union. This research is at the firm level and will inform an assessment of the way in which Brexit will affect individual sectors of the economy, and will be completed by the end of this year.
- currently in the market seeking consultants to undertake a piece of work profiling the composition of trade and investment flows for Ireland and a range of EU Member States with the UK. This will provide an evidence base to inform Ireland’s policy positions as part of the wider negotiation on the UK’s future relationship with the EU. I expect this work also to be completed by the end of this year.
- reviewing our enterprise policy, Enterprise 2025, which will be completed this year.
