Brexit: Priority to avoid 'no deal' cliff edge
Brexit uncertainty has now forced many companies to trigger expensive contingency plans. The issue remains a top priority.
Ibec and our sector associations are working closely with Government, state agencies, regulators and the European institutions, to best prepare for and manage all eventualities. We are also in ongoing contact with Europe’s main business federations to ensure Irish business concerns are understood in national capitals and reflected in the pan-EU approach.
Taking a ‘no deal’ cliff edge off the table is the priority, but business also needs clarity on how a ‘no deal’ outcome would be managed on the ground, from day one. Even in worst case scenarios, we will need a phased transition to a new trading relationship and a compliance trajectory that minimises disruption. Adjusting to a radically new trading relationship with the UK at the end of March is neither possible or realistic.
Certain sectors and business are particularly exposed. Ibec has set out a series of specific and far-reaching legislative and policy measures to government that will be needed to manage any ‘no deal’ UK exit. This includes a major new VAT deferral scheme to avoid acute cash flow issues for those importing from the UK, and a comprehensive state aid package to support businesses at risk.
These are unprecedented times and Ibec is working to support you as you plan and mange Brexit risks. Please find below a list of resources to help. As always, our policy and sector teams are here to assist. Get in touch if we can help in any way.
Danny McCoy, Ibec CEO