Ms Patricia Callan:

The Department has a stakeholder group which does not meet all that often. We have brought in companies one by one, meaning that we have seen officials in the Department regularly in the past while. We felt that was a better approach because businesses cannot share confidential information with each other. To deal with the nitty-gritty and get practical insights, one has to have one to one meetings. The Department was willing to do this, which was helpful.

On currencies, most of our companies deal in 140 markets. Even our smaller companies are much better prepared to deal with such matters than the food sector in which there are much narrower margins. We have sophisticated modelling, as well as hedging instruments and such like. Obviously, if it is a free-for-all chaotic Brexit, no one can plan for it and one will certainly see a hit. Again, however, we are in relatively good stead.

On the differences between our organisations, we have some members in common, but all of our smaller companies are not in IBEC; they are in the Small Firms Association which is also part of IBEC. Our Northern members are only with our association. Accordingly, we are bringing that broader perspective.

We have seen significant investment in the drinks sector in Ireland purely because people believe in the product and our capacity to have the fastest growing spirits sector in the world. Building a distillery can cost between €15 million and €25 million. It was €50 million in the case of one of the more recent announcements. Another €5 million is needed to mature the stock and as much again for marketing and sales. There are geographic indications, as well as the belief we have top-notch product which is making traction in global markets. That is why we are continuing to see money invested in the sector.

From our perspective, the threat greater than Brexit is something like the Public Health (Alcohol) Act. There is also the US trade war. In the space of two and a half weeks we went from having steel tariffs to tariffs on bourbon and whiskey. There is still a 25% tariff on an imported product here, with the threat that the United States will retaliate against us at any time. Up to 50% of Irish cream and whiskey goes to the United States. If it hits us with a 25% tariff, the impact will be much more dramatic for us than Brexit.

We are clear on the issues. We need people to work with us at that granular level. High politics is all well and good, but we now need to get into the detail.