Fianna Fáil Spokesperson on Jobs, Enterprise & Innovation Niall Collins T.D. has said that many domestic Irish businesses will be highly concerned by the British Prime Minister’s confirmation that the UK will leave the European Single Market.
“The comments today by Prime Minister Theresa May indicate that we are heading for a hard Brexit trajectory with the very real possibility that the UK will also leave the Customs Union.
“At the end of the day, the hard Brexit strategy being pursued by the British Government is very bad news for Irish jobs and all businesses who export to Britain.
“At Government level, Minister Mitchell O’Connor, as the senior minister responsible for jobs and enterprise must immediately look at introducing transitional aid measures for enterprises impacted by the fallout from Brexit and currency fluctuations between the Euro and Sterling.
“Only last week, Bord Bia outlined how the continuing weakening and volatility of sterling impaired the competitiveness in Irish food and drinks exports in 2016, which reduced the value of trade by a potential €570 million.
“This maybe the tip of the iceberg and Irish business must now brace themselves for a hard Brexit in the months and years ahead.
“Minister Mitchell O’Connor must immediately get government approval for transitional aid measures to safeguard Irish export jobs and businesses.
“The time for talking is over. Immediate enterprise stabilisation measures must be introduced and the Minister should commit to leading on this,” concluded Collins.