Dairygold sees ‘appalling’ outcome in any hard Brexit

Failure of the EU to reach a deal with the UK will be “appalling” for Ireland and especially for the economy outside Dublin, the boss of Dairygold has warned.

Chief executive of the country’s largest farmer-owned dairy co-operative, Jim Woulfe told the monthly breakfast of Cork Chamber that no deal was the “worst case scenario” for Irish industry including agri-business, following Prime Minister Theresa May’s declaration pre-election that “no deal is better than a bad deal”.

Mr Woulfe said: “That would mean World Trade Organisation (WTO) tariffs on milk which would effectively be 50%. That is completely and utterly unsustainable. Ireland will be a loser after Brexit. Yes, Dublin will see some fintech (financial technology) jobs but outside the M50, we will be the big economic losers.”