Dáil Éireann Debate, Tuesday - 20 June 2017
190. Deputy Niall Collins asked the Tánaiste and Minister for Jobs, Enterprise and Innovation her views on a report drawn by InterTrade Ireland (details supplied) that the imposition of World Trade Organisation tariffs on trade between the Republic and Northern Ireland after Brexit would result in an economic hit of almost €500 million; and the steps she will take to mitigate this. [28403/17]
Amharc ar fhreagraI welcome the publication of this InterTrade Ireland study - which was funded by my Department - as a key contribution to our wider understanding of the potential commercial and economic implications of Brexit for Ireland.
It should be emphasised that this research analyses a 'worst-case scenario' whereby WTO tariffs would be imposed in the absence of a comprehensive trade agreement being agreed between the EU and the UK following Brexit. While the Government will be prepared for all eventualities, this is not necessarily the outcome we expect will be reached at the conclusion of negotiations. The InterTrade Ireland study is nevertheless a valuable contribution to the Government’s ongoing work to address the different challenges that Brexit could present for our country. Its findings also reinforce the need to maintain the closest possible trading relationship between the UK and the EU, including Ireland.
I want to make clear that the Government is already working hard to assist businesses in addressing the commercial challenges associated with Brexit. My Department's enterprise agencies are working daily with companies, large and small, to both mitigate the impacts and maximise the opportunities that the UK’s departure from the EU might present.
