Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I would like it if Deputy McDonald was a little clearer on what it was that she was saying. I accept my responsibilities as Taoiseach in terms of the negotiating mandate and requirement that we have here, and that is why I have kept the Opposition party leaders fully briefed on the preparations for Brexit in that regard.

It is true, and I agree with the Deputy, that we have never been down this road before. Nobody has moved Article 50. Nobody has left the European Union. This is going to have an impact, not just nationally or internationally, but also globally, and it will have an impact on the economies of the island of Ireland. That is why it is very important that the Deputy's own party would work with the other parties in the North and put together the Executive, which will speak for the economic aspects and the businesses and the trade unions and the workers in Northern Ireland.

Yes, I think it is probably true that, over the last number of years, there have been Irish firms that set up subsidiaries or relocated some of their enterprises in Britain long before Brexit ever came. It is also true that, in respect of the interest being expressed in Ireland from financial houses, banks or sectors of them, they are very interested in relocating to Ireland. Many have multiple units at the moment. They will want to continue to be part of the Single Market. They have the second highest busiest route in the world, with connectivity, English language speakers and access to a churn of young talent, which is very important in terms of the products and services that are going to be provided in the future. Clearly, we have lost €500 million in value terms, because of currency fluctuations, in the drinks and food industry, and Enterprise Ireland has been very conscious of this.

Fish stocks will probably be one of the most complicated arguments of all. The Common Fisheries Policy is not something that can be unravelled in individual segments because it has been a traded business over very many years when some countries had no real interest in their fisheries potential, including ourselves, I have to say. While it might be very much in Britain's interests that Brexit would suit it, in that a majority of the quota is caught in British waters, clearly there will be some very complicated negotiations to be held about the fisheries industry and fishery stocks in the time ahead.

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