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

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I wish to focus on costs and I will put questions to either Ms Lynch or Mr. Keegan. We were trying to work out the transport costs to the exporting company. Earlier, when we were trying to extrapolate the figures, the estimated cost ranged from €320 million to €500 million. The cost to business will be significantly more regardless of what happens. Companies will have to budget for the significant cost of the preparation of documentation - whether in hard copy or electronic form - to export or import goods. That cost must be borne by individual companies. Costs will shoot up. Do the witnesses accept that a figure ranging from €320 million to €500 million is a guesstimate and that the cost could turn out to be significantly higher and that it will depend on whether the outcome of the political discussions is a common travel area or a more awkward arrangement?

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