Delayed UK vote could slow Irish exports drive

A delay in the UK referendum on staying or exiting the EU would likely take the sparkle off a key factor driving Irish exports because it would extend the period of uncertainty for sterling, leading economists have warned.

Trade figures for 2015 published yesterday showed something of a ‘golden era’ for exporters and in particular for labour-intensive Irish indigenous firms which had tapped the high level of sterling against the euro to sell lots of goods into Britain.

However, doubts about whether British prime minister David Cameron will be confident enough of winning his Brexit referendum to allow him to call a vote by June have eroded the competitive advantage of the strong sterling exchange rate.