Oireachtas Joint and Select Committees

Thursday, 25 May 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Brexit - Recent Developments and Future Negotiations: Discussion (Resumed)

10:00 am

Ms Carol Lynch:

It was a cross-sector survey. As mentioned by Mr. Keegan, it is important, when examining the implications of Brexit, that we look at the sectors involved. For example, for electronics companies, particularly the large international electronics companies, adding the United Kingdom to the model of international trading will be painful, but it is only a matter of moving them from one box to another.

They are already doing much work in that area in any event. However, this could be completely new for agrifood companies, particularly companies that trade with the UK or Northern Ireland. They would need much more training than someone who is already familiar with the business. One needs to drill down on a sector-specific basis. In addition, many supports are available, including the Enterprise Ireland Brexit readiness programme, the local enterprise offices, the chambers of commence, the Irish Exporters Association, Chartered Accountants Ireland and Revenue. A huge amount of support is available. The real message that it is important to get across is that businesses need to start preparing now. We know a lot already, and this is the critical point. Businesses should not leave preparation until later. They should take advantage of all the information and support available.

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