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Ireland's no deal plan released:
While prep at all levels will help, no deal Brexit will be "highly disruptive" + have "profound political, economic and legal implications, first and foremost for the UK, including most significantly NI + having sig impacts on Ireland and EU.
While prep at all levels will help, no deal Brexit will be "highly disruptive" + have "profound political, economic and legal implications, first and foremost for the UK, including most significantly NI + having sig impacts on Ireland and EU.
NEW THREAD ON IRL NO DEAL REPORT: Ireland says:" a no deal Brexit will have severe negative effects in a number of sectors and among smaller and medium-sized businesses, and it will be widely felt on a regional basis."
JOB LOSSES OF between 50k and 55k in Ireland caused by no deal Brexit.
"There are likely to be significant job losses in the most exposed sectors in a no deal scenario, with an estimated increase in unemployment of 50-55,000 after the UK leaves the EU."
"There are likely to be significant job losses in the most exposed sectors in a no deal scenario, with an estimated increase in unemployment of 50-55,000 after the UK leaves the EU."
No deal Brexit could have a £6bn impact on Irish economy.
"no deal scenario could involve a headline deficit in the region of 0.5-1.5 per cent GDP for next year, depending on magnitude of economic shock - a deterioration in the General Govt Balance (GGB) of up to €6.5bn
"no deal scenario could involve a headline deficit in the region of 0.5-1.5 per cent GDP for next year, depending on magnitude of economic shock - a deterioration in the General Govt Balance (GGB) of up to €6.5bn
"preventing the emergence of a hard border on the island of Ireland remains of the highest priority but without the withdrawal agreement and the backstop there are no easy answers"
As expected report does not say how mandatory EU SPS checks on border would be accommodated. Irish govt says it continues to "work closely with the Commission with a view to minimising these negative consequences of no deal, but any arrangement will clearly be sub-optimal."
On the Irish economy, the report says huge risk to agrifood exports. "Exposure to the UK market, which accounts for 40% of export value overall, with a higher exposure for key products such as beef, cheddar cheese and mushrooms";
NEW: Goods exported from the UK to Ireland will be subject "to a minimum 24 hour notification period" hitting business reliance on roll-on-roll off ferry trade
