Drinks Industry Welcomes New Brexit Loan Scheme
The Brexit Loan Scheme launched by the Government today (28 March) will be an important resource for Ireland’s drinks industry, which faces unique risks associated with Brexit, according to Alcohol Beverage Federation of Ireland (ABFI).
'The new scheme reportedly aims to provide affordable financing to Irish businesses impacted by Brexit. At least 40% per cent of the fund is being put aside for food and drinks businesses,' said the group that represents the drinks industry in a statement.
“We welcome the commitment by the Government to support funding being made available for businesses in the drinks industry that will be impacted by Brexit,' said Patricia Callan, Director of ABFI.
Trade Border Controls
“In the context of Brexit, we also have particular concerns about the potential negative impact of regulatory divergence and trade border controls.” Callan added.
“Currently the drinks industry operates on an integrated all-island basis. For example, often malted barley might be produced in one jurisdiction and transported to another or beer might be produced in one jurisdiction and transported to another for bottling and canning. These supply chains apply to both agricultural raw materials and packaging but also to the transport of finished alcohol product in duty suspension. As such, it’s vital that seamless cross-border supply chains can be maintained.
Callan highlighted that is it also important that Ireland’s all-island spirits GI’s are protected. Irish Whiskey, Irish Cream Liqueur and Poitín are protected at an EU level in a similar manner to Champagne in France or Parma hams in Italy.
© 2018 - Checkout Magazine by Donna Ahern