Oireachtas Joint and Select Committees

Wednesday, 23 October 2019

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Update on Brexit Engagement: Minister for Business, Enterprise and Innovation

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

We have been preparing for a hard Brexit for quite some time. We have done all of the assessment and it is not a pretty picture. That is why a €650 million fund was announced in budget 2020. It is there so that we can draw on it as we need to. There is €110 million allocated to my Department and I have outlined all of the different supports that are available in the event of no-deal Brexit. They are in place and I am satisfied that we have done everything that we can to help businesses in a worst-case scenario. Enterprise Ireland, for example, has supported businesses to the tune of €74 million in 2018 to help them prepare for Brexit. Significant work has taken place and a great number of supports are available. If there is a no-deal Brexit, which we hope will not be the case, we have the supports there and are ready for a no-deal if it arises, whether that is at the end of 2020, 2021 or 2023. I assure the Deputy that we have the supports in place.

Returning to the Northern Ireland issue, there could be an FTA, and if there is a good agreement between us and the UK, we will not have to worry about a border between us, or what the vote is in Northern Ireland because at the end of the day, if the agreement is favourable, we will be able to continue. There many issues at play.

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