The Guardian reports that the Irish Business and Employers Confederation (Ibec) have asked the Irish government and the EU to support Irish businesses with as much as €1bn in state aid to offset the instability and losses that could follow Brexit.Irish businesses leaders are concerned about the disruption to trade between Ireland and Northern Ireland if the UK were to leave the customs union
Irish businesses leaders are concerned about the disruption to trade between Ireland and Northern Ireland if the UK were to leave the customs union. In particular, members of the Irish agrifood sector are concerned about the possibility of having to trade beef and dairy on WTO’s high-tariff terms.
Danny McCoy, chief executive of Ibec, said at a briefing in Brussels,
“In the case of a fraught exit, funds amounting to up to €1bn over three years may be needed from domestic and EU sources to help Irish companies innovate, diversify into new markets, train staff and invest for the future.”
This call for state aid suggests that the corporate welfare fallout from Brexit will not be limited to companies operating within the UK, like Nissan.