Michael Creed (Cork North West, Fine Gael) | Oireachtas source

It is important to remember that outside of a Brexit context we have been in this scenario with the euro relative to sterling for six of the past ten years. This is something the industry has managed previously. I appreciate that it is painful for some as well as threatening in terms of feasibility for others. While we have to watch this space in terms of the range of policy instruments that we may have to invoke, at the moment I am satisfied in terms of my Department's reach to its client companies, through BIM and Bord Bia. We are monitoring the situation and keeping in contact not only with those companies but with substantial purchasers of Irish exports in the UK to try to ensure that we navigate successfully the immediate impact of the Brexit decision in currency fluctuation. On the other hand, we are preparing a range of contingency measures in respect of negotiating strategies etc. I am liaising with my counterpart in Northern Ireland in respect of cross-Border issues that will arise in the context of negotiations as well.

I am satisfied that the dedicated unit in my Department and the reach the agencies have with their customers as well as the contingency planning under way in consultation with the Department of the Taoiseach are helping us to position ourselves in the best possible way to deal with the immediate and medium term issues that will arise in the context of the Brexit negotiations.

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