Enda Kenny (Mayo, Fine Gael) | Oireachtas source

No, €500 million was lost as a result of fluctuations in the value of sterling.

In respect of the European Medicines Agency and European Banking Authority, we have applied to have both agencies relocate here and we are obviously in competition with other countries. The matter will go through the normal process and will come before the European Council for final decision in the autumn. There are major implications and opportunities for whichever location is chosen. Ireland has made a case for hosting both organisations and we will compete with many other countries.

Deputy Adams referred to customs controls. The official who spoke at the joint committee last week was referring to hypothetical scenarios. We have an agreement politically that there will be no return to the Border of the past. Nobody wants the to have a situation such as that which applied at the Killeen crossing and right along the Border for years and which brought with it, as Deputy Adams is aware, sectarian violence and militarisation. As I stated previously, if, arising from the Brexit discussions, tariffs are not applied to goods moving between the Republic and Britain or Britain and the rest of Europe, we will still have two different jurisdictions and a way will have to be found to deal with that. What we agreed with the British Government and Mr. Michel Barnier, who addressed the Dáil only a short time ago while standing next to where Deputy Adams is seated, was that the solution will have to be creative and imaginative. The independent members of the Revenue Commissioners will say that they may well have a job to do here and will look at the different options. However, the committee also agreed that it is not clear what will be the outcome. What is clear is that there is a political imprimatur of no return to what we had in the past. Deputy Adams knows the importance of that as well as I do.

Designated status is an issue I have always referred to in the sense of our particular and unique circumstances, which were outlined to the House by the chief negotiator on behalf of the European Union when he referred to our citizens, economy, jobs and relations with the United Kingdom, the protection of the common travel area, our place in Europe and the fact that we do not want to return to what we had before. We unreservedly condemn the latest atrocity in Manchester. I was glad to hear the First Minister, Ms Arlene Foster, express the hope the other day that an Executive would be formed. While there are political differences, it is important that the Executive faces in the direction of the future and we will be able to have the North-South Ministerial Council, the cross-Border agencies and the development of infrastructure into the North, which are very important for the future.

I will have to revert to Deputy Howlin with some detail on the matter he raised. I do not want to lead him astray but I think the issue is related to the arrival in Ireland of a great deal of intellectual property from corporate firms, which caused a spike in the figures.

See this speech in context