Ireland has been allocated €1.065 billion in constant (2018) prices, equivalent to €1.165 billion in current prices. This represents 21% of the total value of the Reserve, the largest allocation for any Member State. The reference period for expenditure under the Reserve runs from 1 January 2020 to 31 December 2023.
The objective of the Reserve is to provide support to counter the adverse economic, social, territorial and, where appropriate, environmental consequences of the withdrawal of the UK from the EU. Importantly, the Reserve may only support measures specifically taken by Member States to contribute to this objective.
In Ireland’s case, the allocation of resources from the Reserve will be aligned with the annual Estimates process. Ireland has already spent a considerable amount on preparing for Brexit, with successive Budgets since the UK referendum providing significant supports for business and the agri-food sectors, as well as the infrastructure required at the port and airport to maintain the flow of east west trade.
Possible areas for support under Reserve include enterprise supports; supports for the agri-food sector; fisheries; reskilling and retraining; and infrastructure for the ports and airport.