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Sinn Féin call for €2 billion Brexit Stabilisation Fund to protect jobs in face of No Deal Brexit – Pearse Doherty TD

28 August, 2019 - by Pearse Doherty TD


Sinn Féin Finance spokesperson Pearse Doherty TD has called for the establishment of a €2 billion Brexit Stabilisation Fund to protect jobs and exporters exposed to the damage of a No Deal Brexit.

Teachta Doherty said:

“Today’s letter from the Central Bank to the Minister for Finance warned of the scale impact felt by jobs and the economy in the event of a No Deal Brexit.

"The Central Bank highlighted the fact that agriculture, food production and manufacturing sectors across our island are most exposed to the fallout from the British Government’s policy.
 
“The letter outlines the grave threat faced by what it describes as almost all areas of economic activity, and also notes the particular exposure of the agriculture, food production and manufacturing sectors across our island.

"Given the British Government’s policy of Brexit at all costs, the Central Bank accepts that there is a need for supports for these sectors to protect jobs and the economy.
 
“The Government has done too little, too late to support jobs and at-risk sectors in the face of Brexit.
 
“We have continually called for the Government’s Rainy Day Fund for the banks to be replaced with a €2 Brexit Stabilisation Fund to support the businesses and jobs exposed to Brexit, while overhauling the Brexit loan scheme, upgrading ports, easing state aid rules to support exporters and increasing R&D tax credits for SMEs to 30%.
 
“This budget must provide the supports for those impacted by potential job losses while ramping up investment in infrastructure and public services to protect jobs.”

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