Food Drink Ireland says €600m Brexit fund vital

Food Drink Ireland at Ibec wants the Government to invest €600m in the next three years to help agri- food firms navigate Brexit challenges. 

The association says Ireland and the EU should co-fund aids to help Irish companies invest in enabling technology, management training, plant renewal and expansion, refinancing, market research and innovation to regain competitiveness following single market fracture.

The €600m is about 5% of the value of annual export sales to the UK by Irish agri-food companies. The funds would help the sector maintain its edge in the face of currency challenges, and to help avoid Irish goods being displaced by cheaper UK imports in their home market.