Lisa Chambers (Mayo, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

138. To ask the Minister for Foreign Affairs and Trade if his Department has a contingency plan drawn up and ready to be put into operation in the event of a hard Brexit or no-deal Brexit; and if he will make a statement on the matter. [31323/18]

Simon Coveney (Cork South Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Co-ordination of the whole-of-Government response to Brexit is being taken forward through the cross-Departmental coordination structures chaired by my Department. Contingency planning for a no-deal or worst-case outcome, bringing together the detailed work being undertaken by individual Ministers and their Departments on issues within their policy remit, is now well advanced. Its focus is on the immediate economic, regulatory and operational challenges which would result from such an outcome. It assumes a trading relationship based on the default WTO rules, but also examines the possible effects on many other areas of concern.This work is therefore providing baseline scenarios for the impact of Brexit across all sectors, which can then be adapted as appropriate in light of developments in the EU-UK negotiations, including in regard to transition arrangements and the future relationship. This approach is also enabling the modelling of potential responses under different scenarios, such as one where a withdrawal agreement is concluded and where a Free Trade Agreement is the basis for the future relationship between the EU and the UK.

It also takes account of the planning being undertaken at EU level by the Commission Preparedness Unit, which is issuing information notes aimed at different business sectors and examining legislative actions which may be needed at EU level.

However, the Government is already acting in order to get Ireland Brexit ready. Dedicated measures were announced in Budget 2018, including a new €300m Brexit Loan Scheme for Business and a €25m Brexit Response Loan Scheme for the agri-food sector. Capital expenditure of €116bn over the coming decade under Project Ireland 2040 will also allow the State and its agencies to properly plan major infrastructure projects while ensuring that communities and businesses can plan ahead. There was also increased funding provided to my Department in Budget 2018 for the opening of six new diplomatic missions. A further seven new Missions will be opened as part of the next phase of expanding Ireland’s global footprint. These thirteen new Missions will be located in Europe, Asia, Africa, South America, North America, and Oceania and will contribute to helping our exporters find new markets.

Our Government’s enterprise agencies continue to work with companies, helping them to deal with Brexit – making them more competitive, diversifying market exposure, and up-skilling teams. In total 34 reports analysing the effects of Brexit across a broad range of sectors and in some cases setting out responses have been published to date by Government Departments. All these reports are available on a dedicated Brexit webpage on my Department’s website at this .

Longer-term economic strategies will also be critically important in addressing the challenges of Brexit, including Ireland 2040 –the National Development Plan. The Enterprise Strategy 2025 Renewed was recently launched and we are in active discussions with the European Investment Bank on a potential increase in investment in the country.