Murphy welcomes report on €35bn economic potential of Irish Unity
Sinn Féin MLA Conor Murphy said a new report, which estimates the economic benefits of Irish unity could total €35.6 billion in GDP within eight years of reunification pointed up the need for an informed debate on the future of the island.
The ‘Modelling Irish Unification’ was written by economic experts at the Canadian University of British Columbia was launched in Belfast this morning.
Conor Murphy said:
“This important economic research merits serious debate by all of those who claim to have the welfare of every person on the island of Ireland – North and South – at heart.
“The report estimates that the economic benefits of the reunification of Ireland could total €35.6 billion in GDP for the island in the first eight years of economic unification. That’s an increase in GDP of €5,500 per person north and south over 8 years.
“According to the report this economic boost would derive from a series of steps including the removal of barriers to trade, the elimination of duplication of government services as well as the exchange rate benefits from the adoption of a single currency.
“It is predicted that over the long term, GDP per capital in the North would increase by 4 to 7.5 percent, while the Republic of Ireland would see a boost of 0.7 to 1.2 percent.
“It is remarkable that this is the first report of its kind since the Partition of Ireland.
“There was great hope after the Good Friday Agreement that the all-Ireland economy would be developed to its full potential.
“Unfortunately preconceived political ideology has reigned supreme over the economic opportunities that would have accrued for the whole island.
“It’s imperative that politicians of all perspective take note of the analysis in this report and put the future economic well-being of those they represent above political ideology.”