Oireachtas Joint and Select Committees

Wednesday, 3 July 2019

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Yes, they are deliverable. We will ensure that we can put the strongest possible support in place for sectors that would be affected by a disorderly Brexit. However, this support would need to be capable of being phased out over time because we would have to ensure the parts of our economy we support turn to other sectors or other countries, or that those companies or sectors make changes so that they become sustainable again. I want to be clear that even with the kind of support we would want to put in place, a disorderly Brexit would pose very considerable difficulties for our economy, as we have outlined in the summer economic statement. While we will do what can be done to help our economy respond it will still mean very considerable change in our country's ability to trade, the key reason being the nature of the change in our trading relationship with the UK.

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