Mr. Máirtín Ó Muilleoir:

I would like to put on record my thanks to the Department of Foreign Affairs and Trade. Recently, I visited Brussels and had a great opportunity to address 27 Ministers for Europe who hailed from the other 27 member states. The British were absent from the round table talks for the reasons one expects. It was a great opportunity for me to address the remaining 27 states. That was in part due to the help, support and encouragement provided by the Minister of State at the Department of Foreign Affairs and Trade, Deputy Dara Murphy, who has responsibility for European affairs, and the Irish Ambassador to the EU, Mr. Declan Kelleher. That common purpose that I have witnessed, across my Department and the Government in the South, will be vitally important in the time ahead. I hope this co-operation continues. We know that Brexit is not just a British and Northern Ireland problem, but affects all of us whether it is fisheries, the agrifood sector, manufacturing or the small business community - every aspect of life.

The North-South Ministerial Council recently held a meeting in Armagh. The Taoiseach made it clear at the event that he is determined to ensure that the North is not cut off from the bounty of Europe and continues to enjoy the benefits granted by EU membership. In my view, a Brexit contravenes the spirit of the Good Friday Agreement. It will be tested in court whether Brexit contravenes the letter, but it certainly seems to be a denial of the promise and hope that was inherent in the Good Friday Agreement of a fresh start to relations.

Every day brings a new report on the economic impact of Brexit but none of them has pointed to its benefits for the North. Chancellor Hammond has produced official figures and claimed that Brexit will cost the British Exchequer £60 billion. He has also said that the UK's economic growth will lose 2.4 percentage points between now and 2020. All of those negative impacts will be magnified north of the Border in Ireland. The recession and downturn predicted for Britain will be felt worse in Northern Ireland and will last longer. It is incumbent upon us to create joint strategies to mitigate against the harmful effects of Brexit and, hopefully, find a better way forward.

I have lauded the European community but the greatest partner in the Good Friday Agreement has been the people of this State. There has been cross-Border co-operation and an all-island vote for the Good Friday Agreement.

It is through partnership with the people of this State, Deputies and elected representatives that we will find a way through this. There is a strategy and a solution to this which will make sure we do not fall into that black hole.