Government urged to bring ‘clarity of Brexit terms’

Sterling has slumped from 70p to the euro a year ago to 89p now.

The Government needs to deliver a clear message to business of what it wants to secure before Britain starts formal divorce proceedings with the EU, the British-Irish Chamber has said.

The business group, which has highlighted that €60bn in annual trade of imports and exports between Ireland and Britain secures around 200,000 jobs across Ireland, has urged the Government to provide firms what it describes as “clarity of Brexit terms” and “unbiased information”.

“While providing clarity around the Brexit terms rests very much in the hands of the UK government, the Irish government can play its part by providing businesses with the information they need in order to prepare themselves for the UK’s departure from the EU,” said chamber director general John McGrane.

“When asked what they wanted to see from the Irish government ahead of the negotiations, businesses were clear that they want to see a strategy from the Government in relation to Brexit.

I therefore think it is up to us leaders of the business community to work together in support of the Government to help develop the strategy that the business community needs.”

Following the slump in the value of sterling, its survey found that many food and agriculture, information, manufacturing, and pharmaceutical firms were reviewing their currency strategies.

Sterling has slumped from around 70p against the euro in late November a year ago to 89p.