Report on how Brexit will affect Ireland due later today

The special Seanad committee will deliver its report to the Government today on the issue of how Brexit will affect Ireland.

The cross party group has heard from all sectors, in over 50 hours of hearings on their concerns and recommendations.

Chairperson Senator, Neale Richmond, has said Ireland needs to be at the centre of the new European Union.

"Ireland staying within the EU gives us far greater access to the world markets, it allows us to be part of the largest economic trading block within the world.

"The EU is our biggest trading partner, what we have to try and get is a close of an agreement as we can possibly with the UK, to allow that relationship to continue as normal as possible but ultimately it's never going to be as good as we have now," he said.

Meanwhile, one in ten Irish SME's have not made any preparations for Brexit.

According to a new survey from AIB, entrepreneurs are not as concerned about the impact of the UK leaving the EU as had been anticipated.

Over 1300 were surveyed and 54% have said they expect to suffer no impact whatsoever.

AIB's head of Customer Treasury Services, Tom Hall has said the results are surprising.

"The survey gave us some surprising results actually, there is many SME's, 54% of them don't expect an impact from Brexit at all.

"At a high level, that was a very surprising outcome because I think we're all tuned in that this is going to be a rather nasty process," he said.


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