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No deal Brexit could see some people lose their jobs within weeks, Taoiseach warns

The Taoiseach has warned people could lose their jobs in a matter of weeks if there's a no deal B...
Newstalk
Newstalk

17.23 29 Jan 2019


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No deal Brexit could see some...

No deal Brexit could see some people lose their jobs within weeks, Taoiseach warns

Newstalk
Newstalk

17.23 29 Jan 2019


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The Taoiseach has warned people could lose their jobs in a matter of weeks if there's a no deal Brexit.

Leo Varadkar was speaking after Cabinet considered figures looking at the damage Brexit could do.

The Taoiseach spoke to British Prime Minister Theresa May earlier ahead of key votes in the House of Commons tonight.

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The amendments being put before MPs include one calling for the Irish backstop to be replaced with unspecified "alternative arrangements".

Leo Varadkar has warned that economic growth could slow significantly if the UK crashes out of the EU without a deal in March.

"The Department of Finance projections indicate that, in the event of no deal in Brexit, unemployment in Ireland will rise," he explained.

"The Central Bank said the same last week... this isn't something made up, and it's not about blaming anyone. It's about being honest people - we could be in a situation in a few weeks' time where some people may be losing their jobs."

Finance Minister Paschal Donohoe, meanwhile, today outlined some of the possible economic impacts of a hard Brexit.

Figures prepared by his department show the economy could reduce by around 4.25% before 2023.

"This aggregate figure hides an even larger hit to economic activity in labour-intensive sectors such as agri-food and indigenous small and medium-sized enterprises," Minister Donohoe added.

The unemployment rate, meanwhile, could rise by up to 2% in the case of a 'disorderly' Brexit.


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