'Significant opportunities' for Irish businesses post-Brexit, Minister insists

'Significant opportunities' for Irish businesses post-Brexit, Minister insists
Finance Minister Paschal Donohoe

Finance Minister Paschal Donohoe has told business leaders that there are "significant opportunities" for Ireland with Brexit, with firms moving here when Britain leaves the EU.

Mr Donohoe made the comments at a private event held at the British-Irish Chamber of Commerce this afternoon, in which he discussed Brexit as well as Budget 2020.

He emphasised the strength of Britain and Ireland's relationship, stressing the the two nations were bound together by geography, a shared history, culture and trade.

Attendees at the chamber event were told that Budget 2020 will be the right one for “the economic circumstances we now find ourselves in”.

The minister outlined how the government was supporting companies to prepare for Brexit and to diversify their markets and supply chains while employees could develop new skills.

However, despite the government admitting it may need to borrow in the event of a disorderly Brexit and that extra funds may need to be there for unemployment or sectors, the minister also told the group at the chamber event of advantages with Britain leaving the EU.

The Government will continue to work to strengthen the resilience of the economy, to maximise opportunities and to prepare our economy for the challenges of Brexit, including through the future jobs Ireland strategy, the Ireland connected trade and investment strategy and the 10-year national development plan.

“This is why it is important that we recognise the fact that Brexit brings significant opportunities as well as risks. The Government will work to maximise these opportunities where possible,” notes from his speech stated.

His spokeswoman said afterwards that the minister was referring to new business relocating to Ireland as well as others expanding their operations here.

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