Impact on retail sector will be felt far beyond Dundalk, chamber believes

The impact of Brexit on the retail sector will extend far beyond Dundalk and other border towns, the chamber of commerce believes.

Local shopkeepers are bracing themselves for the knock-on effect of the Euro strengthening against Sterling, which gives Republic of Ireland residents more bang for their buck in the north.

‘ The referendum result will hit every shop as far south as Blanchardstown,’ said Dundalk chamber PRO, Paddy Malone.

‘Sterling fell by 10% overnight, and will keep falling. People in Dundalk, working in Newry, will be affected more than during the recession,’ he continued.

While expressing its disappointment that Britain is leaving the EU, the chamber stresses that in the short-term business will continue as before.

‘ There are no immediate changes, other than the significant one of currency fluctuation. Our concern is for our retail members and their employees as sterling falls,’ said a joint-statement issued by Mr Malone and president, Michael Gaynor.

‘ The border with Newry will not change in the short-term, and we would hope that the Irish Government will do all in their power to minimise disruption for manufacturers, transport, retail, tourist and employees, who live and work in different jurisdictions.’

Regarding the border itself, and what restrictions may arise, from policing and customs perspectives, Mr Malone remarked ‘God only knows what will happen.’

‘Looking at the border, we built a motorway. There is no change in road signage from one side to the other. How it is going to be structured, I have no idea.

’ We would encourage our members to plan and anticipate change.

‘ The funding of the Peace Process should continue, not just with the existing commitments, but also a strong longterm engagement with the area.’