Dr. Kieran McQuinn:

There is a danger that people will become fatigued with Brexit. It is an ongoing process about which we are listening to reports every day. We must keep in mind that the outcomes could be adverse for the economy and maintain a focus on it. We did some work earlier in the summer on the commentary, for example, we examined the impact of Brexit on the fiscal space. This issue may not have been fully teased out or clearly understood. We showed that Brexit could impact on the fiscal space because it impacts on the potential output of the economy, which is the key metric that determines the fiscal space. By impacting on potential output, Brexit will impact on the fiscal space in terms of the amount of money available to the Government when and if Brexit comes into play. This is just one example of a way in which Brexit could impact the economy that we may not yet fully realise.