Dáil Éireann Debate, Thursday - 23 November 2017
13. Deputy Thomas P. Broughan asked the Tánaiste and Minister for Business, Enterprise and Innovation if studies (details supplied) are on target to be completed before the end of 2017; the timeframe for the findings to be made available; and if she will make a statement on the matter. [49461/17]
View answerIn advance of the UK Referendum, my Department conducted a contingency risk assessment of the potential impacts of Brexit across policy areas of the Department. We have refined our analysis post-referendum and have been working with Agencies to put in place actions to mitigate risks and maximize opportunities.
In this regard, my Department is conducting a number of research projects to build an understanding of the possible implications of Brexit on Ireland for enterprise, consumers and trading relations.
These studies examine a range of scenarios and 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 and will further assist with the continued development of mitigation measures to respond to Brexit.
The Department is also engaged in extensive consultation with stakeholders across all sectors of the economy. Such consultation provides direct input to the more formal research studies but also represents a strand of research in itself, facilitating direct engagement between policymakers with those most significantly impacted by Brexit.
Many of the challenges facing our economy and our enterprise base reflect longer term global trends.
Brexit, however, is acting as a catalyst, bringing these challenges into sharper focus, expediting the need for firms to respond and adapt. This in turn behoves my Department, and indeed the entire Government system, to continue to develop effective policy responses to support enterprise.
It is important to acknowledge, however, that the majority of policies and interventions that are already in place to support enterprises and to help them grow and diversify remain relevant. In this context, the ongoing review of Enterprise 2025, offers a value opportunity to take stock and ensure that these policies are Brexit proofed.
The challenge now, is to identify the additional specific policies that are required to address Brexit and emerging global challenges and opportunities. Whilst identifying new actions to support our companies, we must also ensure we fully utilise all of the existing supports that are in place.
The various studies currently underway will provide a valuable resource as my Department’s policy response continues to evolve. The outputs from such studies will contribute to the development of targeted, sector specific messages and mitigation measures. These are outlined in the recent Brexit Sectoral Report 'building Stronger Business' which I published last month.
The details of the research studies which are currently being undertaken by my Department, as referred to in this question, are as follows:
- The study into the “Sectoral implications arising from Brexit: Most exposed sectors” and the study into “Strategic Implications arising from EU-UK Trading Patterns” are on target for completion at the end of 2017. These studies will form part of the deliberative process to inform the development of our policy positions as part of the negotiations on the UK future relationship with the EU and key findings will be made available in due course.
- Phase 2 of the InterTrade Ireland study on “The Potential Impact of WTO Tariffs and other key relevant issues on Cross-Border Trade” is expected to be completed by the end of November 2017. It is intended that this report will be published within the coming weeks
- The study by the CCPC and the ESRI on the “Financial impact of Brexit on consumers in Ireland” is expected to be completed by the end of 2017. The issue of publication will be considered once the Project has been completed.
