Neale Richmond (Fine Gael) | Oireachtas source

I would like to raise a few points, and one of them builds slightly on what Senator Craughwell said. The first relates to the international context. IBEC is a member of Business Europe. We have hosted its counterparts many times when they have come here to discuss this issue. Leaving aside the Confederation of British Industry, CBI, I ask the witnesses to comment on the degree to which solidarity has been maintained. How is IBEC working with colleagues to develop knowledge of the unique situation in which Ireland will find itself post Brexit compared to continental colleagues? I refer to how heavily exposed our economy will be to the British economy both directly and indirectly. Senator Craughwell has mentioned the landbridge at length in that regard.

We saw the second extension to this process in April and we throttle towards 31 October not knowing what is going to happen in the UK. That might be clearer in the next few weeks but it might also be less clear. Mr. McDonnell made a lengthy point on inventory. I have come across that issue in a stark way. A friend of mine owns a second hand used car dealership and he brings in a great deal of stock from the UK. He stocked up last year and now he has spent the first quarter of this year trying to get rid of that stock. He has done okay. Let us put it this way, however. As a result of that stocking up, there will be no summer holiday for him or his kids this year.

The extension period is welcome because it avoids the cliff edge. We all know how bad an uncontrolled Brexit could be. How damaging though is the uncertainty? Is it the uncertainty that is dangerous or is it more that in a parallel stream people think the threat has gone away? As a result, they have stopped preparing and assume the process will keep getting pushed on. This process will end at some stage, however. It will end with the agreement of a deal, a no-deal scenario or the UK revoking Article 50. This process will, however, end at some stage. Is this a little bit like the boy who cried wolf? By the time it eventually ends will there have been so many extensions and possible endings that the uncertainties will have just added to the overall confusion? How can we get around that?

Both organisations mentioned the work they do with their members and their engagement with Government. We sit beside each other at Brexit stakeholder forums and we have all been to the road shows, as Senator Craughwell mentioned. How prepared, however, can business be? Is it the case that it will never be fully prepared and is that why only 6% of people say they are prepared? Is that because nobody knows what they are preparing for? The witnesses have stressed the importance of information and legislative matters. When we talk about State aid packages, from a Government perspective, how exactly do we prepare them? We do not know when we will need to make those changes, when this process will end or when State aid will be required. How can that be best calculated?