Ibec has launched a set of proposals aimed at progressing EU-UK negotiations and limiting the negative impact of Brexit on businesses and the wider economy.
In advance of the launch of Brexit: Challenges With Solutions, Ibec CEO Danny McCoy said the surprise UK election result ‘offered a fresh opportunity for the UK to shift its divisive hard-Brexit trajectory’.
"With the Brexit clock ticking, the UK must quickly reassess and redefine its Brexit approach," he commented.
"The concerns of business in the UK, Ireland and across Europe must inform the UK approach and the EU response. The Irish economy is powering ahead and is well positioned to respond to any Brexit upheaval, but the risks are very real. Brexit is a threat to our living standards and our economic ambition. There can be no complacency."
Ibec’s report sets out five principles, which the group says should inform the approach to negotiations. These are:
- A smooth exit
- Comprehensive transitional arrangements
- The closest possible future trading relationship
- Unique Irish challenges addressed
- A prosperous and competitive future EU
McCoy explained, "The Ibec report aims to help shift the debate from political posturing to pragmatic solutions, but the way forward remains unclear. If the UK crashes out of Europe, Ireland will need all the policy levers available to respond. State aid will be needed to support companies through any period of adjustment, and tax and labour market policy must ensure Ireland remains internationally competitive.
“A post-Brexit EU must take full advantage of Europe's collective strength and influence, but not limit the capacity of member states to respond quickly to external shocks.”
The full report is available at Ibec’s website.
© 2017 - Checkout Magazine by Jenny Whelan