Carol Nolan (Laois-Offaly, Independent) | Oireachtas source

Recent developments in the UK regarding the Internal Market Bill have exposed just how vulnerable Ireland remains in the evolving and unpredictable nature of the Brexit drama. We are aware that the EU has expressed a willingness to engage in legal action against the UK because of the position it has adopted. This approach, while understandable, will add to the delays and the sense of conflict that continues to dominate the end stage of current negotiations. This is why, unfortunately, a hard, no-deal Brexit looks like a very real possibility. We are simply running out of time. Such an eventuality will have a devastating impact on Ireland and especially on the rural economy. According to Teagasc, this version of Brexit will cause a loss of preferential market access to the UK, as well as leading to a decline in Irish-EU exports to the UK. To compensate for this and to compensate for the damage the resulting economic shock will bring about, we need to ensure - as Teagasc has noted - that Irish export options are diversified. This has to be a particular priority because it is expected that Irish agriculture output volume will decline due to lower farm prices. We must work to create alternative market options. The opening of new trade opportunities must be a top priority. Without this, rural Ireland and, by extension, the entire Irish economy will enter a period of profound difficulties that might take a generation to resolve.

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