IBEC calls on Government too safeguard competitiveness due to Brexit

IBEC calls on Government too safeguard competitiveness due to Brexit

Irish businesses exporting to the UK are already 15% less competitive than before the Brexit vote.

That is according to IBEC, who is calling on the Government to take measures to safeguard competitiveness.

The organisation has said a survey of Irish businesses shows that they can't compete with the rapid currency fluctuations and competition from UK based companies.

It is also now cheaper for UK companies to export into Ireland.

Fergal O'Brien, Director of Policy with IBEC, has said there are still many unknowns: “We can only focus on those issues on which we have control over, and the key to that has to be the cost of doing business.

“We may well see the UK government provide supports to industry, we may well see the UK government cut its own taxes and our Government needs to stand ready to react to that.

“The UK could actually become quite aggressive in supporting business post-brexit and Ireland must make sure we are in a place to respond.”

More in this Section

Serious Fraud Office closes Libor rigging investigationSerious Fraud Office closes Libor rigging investigation

Johnson insists EU free trade agreement can be struck amid no-deal Brexit fearsJohnson insists EU free trade agreement can be struck amid no-deal Brexit fears

IDA Ireland: Era of optimism with growth evident in all sectorsIDA Ireland: Era of optimism with growth evident in all sectors

Renault warning of slowing sales haunts rest of European car industryRenault warning of slowing sales haunts rest of European car industry


Lifestyle

These are the nail hues to choose this season, says Katie Wright.Perfectly polished: 5 autumn/winter nail trends you’ll actually want to wear

This early 19th-century table is one of a number of Irish lots at Sotheby’s Style, Furniture and Ceramics sale in New York on Thursday (October 24).Irish lots poised to add bite to Big Apple sale

Something for all at Hegarty’s auction in Bandon, says Des O’SullivanSomething for all at Hegarty’s auction in Bandon

Des O’Sullivan gives a preview of the Irish selection on offer at two sales in DublinPreview of the Irish selection on offer at two sales in Dublin

More From The Irish Examiner