Joe O'Reilly (Fine Gael) | Oireachtas source

I thank our guests for their lucid presentations and answers to questions, all of which are very helpful and inform us a good deal. I agree with my colleague, Senator Byrne, about import substitution. If I understood the answer Dr. Lawless gave, she believes we should be working in that area and that it would have to be part of our economic strategy in future.

If I understood the witnesses correctly, many of the nuts and bolts issues have yet to be negotiated and modifications can be achieved. Can we pursue those bilaterally with the UK or must they come under the umbrella of the EU to get a more fluid system and minimum regulations at ports? It was encouraging to hear Dr. Lawless say that Revenue and various Departments had been very successful in that regard. The fact that traffic is moving from Dublin in the direction of Wexford, from where Senator Byrne comes, is helpful. What recommendations should the committee make to achieve modifications in the regulations, reduced bureaucracy and other required results?

The annual household cost of €892 cited by Dr. Lawless and the effects it could have on low income households are stark. They could be particularly stark in a post-Brexit scenario where, sadly, we may have some residual unemployment. Unfortunately, not everybody on a pandemic unemployment payment, PUP, will get back to work. The witnesses are more expert in this area than we are but I am afraid of the effect that will have on certain sectors, particularly hospitality which has been suffering for some time.

The witnesses referred to uncertainty with services. That is concerning. Our colleague, Senator Niall Ó Donnghaile, spoke last week about mutual recognition of qualifications. I ask the witnesses to elaborate on services in general. In that regard, I will raise a specific issue related to services. If I understand the position correctly, the Bank of England policy for the UK and Northern Ireland is not to charge for keeping money on deposit. Such charges may arise in some banks in the Republic. If that were to occur, could we see a flow of capital across the Border as people move their deposits to avoid paying deposit charges? Is that an issue we should be looking at and concerned about? I ask the witnesses to comment.

I thank the witnesses again for their enlightening presentations. The big issue is whether we can continue to deal with the UK on a bilateral basis because, historically, the two countries have had good relations. We should be able to work on that. In that regard, the British-Irish Parliamentary Association, BIPA, is meeting harmoniously here in Leinster House today. We should be fit to work on these issues. Will they come under an EU umbrella or how do the witnesses see that progressing? In addition to the issue with the currency, they might discuss services generally and the income reduction for lower income households. The figure cited would be scary if it were to fully materialise, although, if I understood the Dr. Lawless correctly, it was a bit of a doomsday figure, so to speak.