British exit from the EU ‘could raise cost of Irish exports 30%’

Britain’s potential exit from the EU would likely spell disaster for Irish exporters by sending the cost of their goods soaring 30% higher than they were in January.

UK voters go to the polls on June 23 in a decision to quit or to remain in the EU with the fallout of a Brexit likely to be significant on this side of the Irish Sea.

Business group Ibec has warned of the “immediate risk” of the sterling/euro exchange rate moving to parity and “heaping pressure” on Irish businesses should the UK leave.