Oireachtas Joint and Select Committees
Thursday, 19 January 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Statement of Strategy 2017: Department of Finance
10:00 am
Michael D'Arcy (Wexford, Fine Gael)
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Let me finish, I know as a result of the speech by the Prime Minister, Theresa May, last week people are saying the worst case scenario was modelled. There is a worse case than a bad deal which is no arrangement falling on the WTO. The witnesses did not model a trade war, which could happen and could have a really catastrophic impact on the agricultural sector in this country. The modelling is based on 50% WTO targets for agriculture but if there is a trade war that could be 75% or 100%.