Oireachtas Joint and Select Committees

Wednesday, 10 April 2019

Committee on Budgetary Oversight

ESRI Report on Ireland and Brexit: Discussion

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

How granular is the analysis of the various impacts, primarily negative, as the witnesses have described, but also the potential positives in terms of different sectors? Deputy Chambers asked about different regions. How would different sectors be impacted, negatively or positively?

Without in any way underestimating the difficulties all of this poses, and I imagine that the sectors that have been mentioned, agrifood and tourism, are likely to take a particular hit, if sterling falls, obviously that makes our exports to Britain more expensive and is likely to hit such exports. To what extent may that be mitigated by cheaper imports of certain things and potential boosts in terms of the costs of production for certain industries that rely heavily on British imports? Has that been factored in, or the balance of certain things becoming more expensive but other things becoming cheaper, even household goods? I believe we import around the same amount of food and drink as we export to Britain. The delegation can probably tell me more about that. Is that factored in when trying to work out what the impact might be of the costs of things and how that might impact on households, employment and the costs of production for industry?

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