Fianna Fáil Spokesperson on Brexit Lisa Chambers TD has said that Fianna Fáil is continuing to provide stability amid the ongoing Brexit uncertainty and political instability in Westminster
Chambers made her comments on foot of Budget 2020 in which a number of Brexit related measures were announced in the event of a no deal Brexit.
Commenting Deputy Chambers said, “Today’s Budget is rightly based on a disorderly Brexit but a key take from today’s budget is that if a no deal materialises a significant proportion of money will have to be borrowed to fund the measures announced”.
“The reality is that €650m of Brexit supports will have to be borrowed with a smaller than expected level of support coming from the European Union. Had Fine Gael been judicious and ran surpluses in the last 3 years when they had the money available, as per Irish Fiscal Advisory Council advice, they wouldn’t be in a position of having to borrow such a large sum of money in the event of a no deal Brexit”.
“It is essential that the Government ensures that money is readily available when and if required and that businesses, SME’s and affected industries are not left waiting an inordinate amount of time to access what will essentially be emergency funding”.
“In addition, we cannot lose sight of the fact that there remains a number of gaps in the Government preparations, including poor-take up of supports and a considerable number of companies still without EORI numbers or a Brexit plan in place. Coupled with this the Government has still not provided any clarity on the plan for checks in the event of a no deal Brexit. The lack of information is creating uncertainty and it is high time that the Government levelled with public about their plans in this regard”.
“From the outset Fianna Fáil recognised the threat that Brexit posed and whilst others stood on the side-lines in 2016 we stood up to the challenge and took the unprecedented step of agreeing to a confidence and supply arrangement. It has not been an easy road for my Party, but it has proven to be the right course of action, particularly in the context of the ongoing political instability in Westminster and the imminent threat of a no deal Brexit”.
“Whilst we all hope that a deal can be reached between the EU and the UK the mood music does not appear to be good and therefore prudent steps must be taken to prepare our country for the worst. Today’s budget is at least an attempt, although late in the day, by the Government to do just that,” concluded Deputy Chambers.