Post-Brexit UK Food Industry Is £2bn Worse Off…

spaghetti, tomatoes, basil

You may have noticed that there have been massive issues lately with supply chains. There was a certain amount of schadenfreude on social media about Wetherspoons running out of beer. Wetherspoons, whose founder Tim Martin strongly backed the UK leaving the EU, has been hit by beer shortages caused by Brexit https://t.co/gVoprpOOYF — LBC (@LBC) September 1, 2021 How much of this is due to Brexit and how much is due to the pandemic is hard to tell. What we …

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Northern Ireland is about to learn the cost of lies

“What is the cost of lies?” This is the question posed by Valery Legasov in the HBO mini-series Chernobyl, about the lies of the Soviet authorities in the lead up and aftermath of the 1986 disaster in what was then the Ukrainian SSR. The British government has stated that it will not be seeking an extension to the transition period with the EU following the UK’s exit from the union in January. It therefore appears likely that Northern Ireland will …

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…And Teslas for All – the latest plan to break the Brexit deadlock could lead to some interesting opportunities for Northern Ireland residents

Following the meeting between Boris Johnson and Leo Varadkar in England this week, hopes have risen for a deal between the EU and the UK over the vexed issue of post-Brexit customs arrangements for Northern Ireland. The previous proposals made by the British government to replace the Irish backstop were that Northern Ireland would align with single market regulations on agri-food, but that Northern Ireland would leave the EU’s customs union, meaning that there would be checks on goods both …

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Over the cliff edge – what would happen if exports to the EU were subject to tariffs

The continuing deterioration of relations between the British Government and the European Union has led to a renewed focus on the possibility of a hard Brexit, where all trade between the UK and the European Union would be subject to tariffs in line with WTO rules. Previously, I had written about how Northern Ireland would bear a disproportionate cost of a hard Brexit, due to cross-border exports of dairy playing a substantial segment of the local economy. Under WTO rules, …

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Trading Partners Wanted: looking at Vietnam

As it stands, Ireland’s largest trading partner is the United Kingdom. This has been the case since Independence although the balance has shifted greatly since Ireland entered the EEC in 1973 with the UK no longer wholly dominate although our reliance on the UK in certain sectors such as beef, timber, pork and much more. As Ireland’s reliance on the UK as a trading partner has diminished, it has been able to look to a wider market largely thanks to …

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Trading Partners Wanted: Looking at Georgia…

As it stands, Ireland’s largest trading partner is the United Kingdom. This has been the case since Independence although the balance has shifted greatly since Ireland entered the EEC in 1973 with the UK no longer wholly dominate although our reliance on the UK in certain sectors such as beef, timber, pork and much more. As Ireland’s reliance on the UK as a trading partner has diminished, it has been able to look to a wider market largely thanks to …

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Dublin Airport – Northern Ireland’s gateway to the world

Yesterday’s announcement that Brussels Airlines are withdrawing their route from Belfast City Airport to Brussels is the latest in a series of setbacks for Northern Ireland’s aviation sector, following the controversy surrounding the termination of United Airlines’ route from Belfast International to Newark. The habit of throwing government funds at airlines to coax them into flying to Northern Ireland, only for them to pack their bags and leave when the subsidies run out, has become routine. Serious questions must be …

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“Now, it’s probably going to be a difficult argument with the Treasury at the minute…”

Interesting, short, snippet from the BBC on that perennial favourite, and long promised, corporation tax cut.  From the BBC’s news in brief. Northern Ireland’s corporation tax rate is due to drop to 12.5% from April 2018 – but the RHI crisis calls this into question. “That legislation can only happen if the Treasury gives the green light,” said BBC News NI Economics Editor John Campbell. “What’s called a commencement’s clause. “Basically, the Treasury has to say, “we’ve looked at Northern …

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UK exports have boomed since the Brexit referendum, but mostly to the EU

In the immediate aftermath of the referendum on the UK’s membership of the European Union on the 23rd of June 2016, the pound fell sharply against other major currencies. At the time of writing, £1 will buy €1.19 or 1.25 US dollars, down 8.5% and 14.7% respectively $1.47 and €1.30 on the eve of the referendum. It has been claimed by various sources that a fall in the pound, whilst obviously bad news for importers and holidaymakers, will prove a …

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Hard Brexit, trade, and the border

Today’s announcement by the Prime Minister Theresa May that Article 50 of the Treaty of Lisbon will be triggered in March 2017 has brought into sharp focus the potential impact that a hard Brexit could have on the Northern Ireland economy. Should the UK leave the European Union without any form of free trade deal with the EU, then trade across the Irish border could be subject to tariffs in line with World Trade Organization rules. A hard border between …

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Narrow Water Bridge: “Yet when confronted with a real initiative that would help boost trade, we say no…”

By David McCann Just under a month ago, politicians in Stormont and the Dáil dealt a hammer blow to the Narrow Water bridge scheme. Citing escalating costs the former Finance Minister, Sammy Wilson, refused to pledge more funds to make up the £10 million shortfall that would be needed to build the bridge. This decision by politicians on both sides of the border to halt this vitally important project is a prime example of short sighted policy making. Let’s take …

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