40,000 jobs here at risk if Britain leaves with no deal

AT least 40,000 jobs in Northern Ireland could be at risk in the event of a no-deal Brexit, a report has said.

It also warned exports to the Republic of Ireland could fall by between 11% and 19%.

Findings by the Department for the Economy warned crashing out without a deal would have a “profound and long-lasting impact on NI’S economy and society”.

It states: “The impact of EU tariffs and non-tariff barriers will mean that whatever the Irish Government and/or the EU may do or not do, many businesses will no longer be able to export to the Irish market, leading to a major reduction in exports to Ireland.

“The impact of EU tariffs could reduce NI’S exports to Ireland by 11% and the inclusion of non-tariff barriers could see a decline of 19%.

“This equates to a decline of between £100million to £180million in NI’S exports to Ireland.

“Analysis of import volumes and commodity prices shows that NI businesses would have increased vulnerability to low-cost non-eu imports in the GB or NI market.

“This risk is particularly acute for the agri-food sector where certain prices for larger agri-food exporting non-eu countries are much lower than local prices – especially beef.”

SDLP MLA Daniel Mccrossan described the report as “stark”.

He added: “The imposition of tariff and non-tariff barriers, which is all but assured under a no-deal exit, will force significant numbers of businesses out of the export market.

“Sales to Britain will come under pressure from increased competition from foreign business under WTO rules. It is a disaster.”

Northern Ireland Retail Consortium director Aodhan Connolly said the findings should come as no surprise.

He added: “It is the biggest threat to our economy since the Troubles. With at least 40,000 jobs at risk or 5% of the employees in NI, it is clearer than ever that we need a deal.”

NI RETAIL CONSORTIUM YESTERDAY