‘Impossible to mitigate no deal crash’ – O’Neill
The Department of Economy has confirmed that Brexit is already damaging the local economy and it is impossible to fully mitigate the impact of a no deal crash, Sinn Féin Deputy Leader Michelle O’Neill has said
Michelle O’Neill was speaking after leading a Sinn Féin delegation including Chris Hazzard MP, Conor Murphy MLA and Máirtín Ó Muilleoir MLA to meet with the Permanent Secretary and senior officials at the Department for the Economy today to discuss Brexit and economic development issues.
The Sinn Féin Vice President said: “The department was clear that despite deploying all resources to prepare for Brexit, the fact is that it is impossible to fully mitigate against the impact of a no-deal crash.
“They were also clear that any form of Brexit will be damaging to the economy and to citizens rights.
“Brexit will bring only economic chaos to the North. In particular, a no deal Brexit would be the equivalent of taking a wrecking ball to the economy. It would cause havoc to the agri-foods sector in particular, given its dependence on an integrated all-Ireland economy.
“This week’s report from the department also showed that foreign direct investment would fall under every Brexit scenario — giving the lie to those who boast that Brexit will bring economic opportunity.
“Our meeting also explored the impact on the Single Electricity Market, our services sector which faces massive disruption and the obvious need for increased North-South co-operation.”