Ibec, the group that represents Irish business, today called on Government and the EU to escalate Brexit ‘no deal’ contingency planning, following the decision of UK Prime Minister Theresa May to defer a parliamentary vote to endorse the Brexit Withdrawal Agreement.
Ibec CEO Danny McCoy said: “The risk of ‘no deal’ is rising. If the UK crashes out of the EU, there will be immediate and far-reaching economic consequences. An extended transition period is vital in all circumstances, including ‘no deal’. Businesses and jobs are on the line. The Irish government and the EU institutions must now set out in detail their plans for a possible disorderly UK exit.
“Ireland’s unique economic exposure to Brexit will demand very specific treatment. Emergency laws will be needed to put certain economic activity on a firm legal basis. Keeping transport links and supply chains moving must be a priority. The majority of Ibec members have contingency plans in place, but companies urgently need more information.”