IFA WELCOMES €5BN EU BREXIT CONTINGENCY FUND PROPOSAL

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IFA WELCOMES €5BN EU BREXIT CONTINGENCY FUND PROPOSAL
10 Jul 2020

IFA WELCOMES €5BN EU BREXIT CONTINGENCY FUND PROPOSAL

Brexit

IFA President Tim Cullinan has welcomed the proposed Brexit reserve fund of €5bn for countries worst affected by the UK departure from the EU.

EU Council President Charles Michel has included the €5bn Brexit fund in his latest Covid Recovery Fund proposals.

Tim Cullinan said “IFA has always said there would have to be a dedicated EU Brexit contingency fund to deal with all scenarios, up to a No-deal outcome, as it would devastate our sector”.

“By virtue of our location, Ireland is the most affected by the impact of Brexit. Our farming and food sector is particularly exposed given our export profile to the UK. The extent of the support required by Irish farmers depends on the outcome of the current negotiations with the UK and the damage to our position on the UK market,” he said.

“We held a meeting with the Minister for Foreign Affairs Simon Coveney in May, when we again emphasised the severe difficulties that the farming sector would face, particularly our beef sector,” he said.

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