Ibec calls for business subsidies amid Brexit

As talks on Brexit formally begin in Brussels later today, it has been claimed that Irish companies may need to be subsidised to the tune of €300m to €400m per year in order to help them trade through the disruption.

Ibec, which made the call, suggested the funding should come from the EU and the Government.

It said the resources required will be in the region of 5% of the value of current indigenous annual export sales to the UK and that up to €400m may be needed annually in a worst-case scenario.