Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The British Prime Minister, Ms Theresa May, articulated recent developments in her speech on Friday last. While a significant amount of work remains to be done and there will be difficult negotiations later this year, the renewed focus of the British Prime Minister on a transitional period and its duration and the focus the United Kingdom is now placing on customs policy are important matters for Ireland and the economy. A longer transitional period and a customs policy that is close to current customs arrangements would mean the opportunities would remain but the risks could begin to decrease. All of this must be viewed in the context that the overall challenge Brexit poses to the economy will continue. It is significant that our largest trading partner is exiting the European Union in the manner proposed. The Government is under no illusion as regards current and potential challenges.

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