Oireachtas Joint and Select Committees
Tuesday, 6 December 2016
Committee on Budgetary Oversight
EU Directorate-General Economic and Financial Affairs: Discussion
5:00 pm
Dara Calleary (Mayo, Fianna Fail) | Oireachtas source
Brexit is happening for us now. We cannot wait for Article 50 because we export €13.6 billion worth of products to the UK. In the first six months of 2017, which we are discussing here, many contracts which were negotiated in the first six months of 2016 will be renegotiated on the basis of the new relationship with sterling. That is impacting on our food and manufacturing industries. Approximately 40% of our exports are to the UK market. There are concerns about jobs, and the taxes that accrue from them are essential to our fiscal position in 2017. Many issues will directly hit us in 2017. What is the Commission's position on that? What work has it done to assist or encourage the Irish Government to prepare for that better than it has?
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