IBEC sets out its Brexit stall

The Irish Business and Employers’ Confederation (IBEC) has  pulled all its policy positions on Brexit together in a snappy set of 12 information cards called “Brexit: Challenges with Solutions“.

Speaking at the introduction in Brussels last week, IBEC CEO Danny McCoy said that the UK was heading for an economically calamitous divorce.

The cards cover the full range of policy issues but at the core is IBEC’s repeated call for alleviation action by the Irish government. IBEC asserts strongly that Brexit constitutes a ‘market failure’that is covered by exceptions to the EU rules banning state aid to private companies.

“EU and national government funding should be provided over a three year period to help companies trade through any period of disruption, adapt and succeed into the future. Funds should be targeted at supporting innovation, market diversification, upskilling and capital expenditure in equipment and machinery. The resources required will be in the region of 5% of the value of current annual export sales to the UK.”

In 2009 in response to the recession, a temporary framework for state aid was agreed.