Brexit deal a must

IT is practically impossible to overstate how important it is for the Government to secure a good outcome regarding Brexit.

Our business relationship with Britain is key to our economic wellbeing. Not only is the two-way trade between here and there worth in excess of €1billion per week, there are also 200,000 employed in this country because of goods and services being sent across the water.

Meanwhile, about 40% of exports by Irish-owned firms go to the UK. It doesn’t take a genius to work out there would be disastrous consequences for the State and its citizens in the absence of some deal.

The current situation can only be described as chaotic. Britain says it wants a free-trade arrangement with all countries in Europe, but this seems impossible as its departure from the EU is a clear rejection of free travel and the common market. Meanwhile, the EU wants the North to effectively be part of an all-Ireland entity for trading purposes. This also looks unrealistic and highly unlikely.

Granted, the negotiations are in an early stage and all sides are setting out their respective positions. It is crucial from our perspective, however, that consensus is reached at some point. When there is dispute and disagreement, the worst it usually means for the general population is inconvenience and the annoyance that comes with it. But in this instance, we are potentially facing the threat of economic ruin. Accordingly, it is imperative that everyone negotiating on our side has a clear understanding of what is at stake here.

The bottom line is we simply cannot afford to walk away from the table without a deal. And it is the Government’s responsibility to make sure this doesn’t happen.