Budget 2017 was completely devoid of Brexit management.
Our biggest risk and greatest opportunity is Brexit. Tuesday’s Budget was an opportunity to get ahead of Brexit, now we are further behind than ever. What does Brexit mean to the people on the ground and for the food industry in Co Kildare and Ireland?
Look at the mushroom industry, for example where three suppliers closed in as many weeks because mushroom growers can now supply the Irish market 12% cheaper. Jobs are already lost, and these are the type of jobs where people will find it difficult to seek employment.
In the food industry, English companies such as Breaks and Lynas have already cut their prices by 10% cutting Irish companies out of the market, especially in the area of food, wholesalers etc. Ireland and notably, Co Kildare has a growing food processing industry, – half our total exports last year went to the UK.
We are a small island nation with a small population – we need to be able to act nimbly and change direction.
Where are the substantial measures, risk aversions, and enticement for business in this context – this budget was an opportunity for Ireland to get first mover advantage to receive the banks/financial institutions looking to relocate out of London. A totally missed opportunity!
The Govt announced a ‘buffer’ for future crises but what about today’s crisis which is staring us in the face? When there was a similar sterling problem years ago, the then Govt moved immediately to introduce a temporary measure, by halving PRSI, but I don’t see any of that recognition in this Budget.
We need to protect our food processinc companies here in Co Kildare, so Brexit management urgently required, Minister Noonan!