Last month, Minister for Finance and Public Expenditure & Reform, Paschal Donohoe discussed the economic and fiscal impacts of a disorderly exit of the UK from the EU stating that all forms of UK exit will have a detrimental impact on the Irish economy. The Minister said that:

• Under a disorderly exit of the UK from the EU, the Irish economy could be 4¼ percent smaller than the current projections over the medium-term;
• Employment would increase more slowly and the unemployment rate could rise by 2 percentage points;
• The public finances would deteriorate – the modest surplus projected for 2020 would turn to deficit, and
• The most adverse impacts likely to be felt in agri-food and indigenous manufacturing sectors.

The Minister said that no matter what form the UK will take to exit the EU, it will have a “detrimental” impact on the Irish economy. The most adverse effects will be felt in agri-food and indigenous manufacturing sectors.