Dáil Éireann Debate, Thursday - 6 April 2017
363. Deputy Stephen S. Donnelly asked the Minister for Jobs, Enterprise and Innovation if she has conducted or commissioned studies into attitude or preparedness for Brexit; if these studies have been completed, if completed, she will release this study; and if she will make a statement on the matter. [17266/17]
Amharc ar fhreagraMy Department has commissioned research to provide a deeper understanding of the implications of the UK decision to exit the EU on Irish SMEs. Working together with stakeholder groups, the Department of Finance and the Strategic Banking Corporation of Ireland, this involved a structured engagement with a diverse range of companies across all sectors and regions including a survey of over 1000 SMEs directly involved in this area. The aim of this engagement was, based on company views including their preparations for Brexit, to construct an evidence base on which appropriate, tailored and targeted responses can be delivered to meet real identified business needs. Work on analysing the data from this research is well advanced, and I am considering what options, in addition to those already provided by our Agencies, might be necessary.
My Department is also currently piloting 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. Firm-level insights on attitudes and preparedness for Brexit are an important aspect of this study. The research will also examine the associated implications for Foreign Direct Investment (FDI) in terms of the freedom to invest in, own, and/or manage enterprises, and to undertake certain financial transactions. The project will run in two stages: a pilot/verification stage, and a completion stage. The pilot phase began in January, will be substantially completed shortly, and will inform the next stage which is due to be completed by the end of this year.
It is not intended to publish these studies as they will be 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.
