A new government-commissioned study has warned that Brexit will hit the Irish economy no matter what type of deal is signed between London and Brussels. The agri-food industry has been identified as one of five sectors that will feel most of the economic impact.

 

The study, by Copenhagen Economics, estimates the cost to the Irish economy of a ‘hard Brexit’ will be around €18 billion, much greater than the expected economic impact on any other EU country.

 

The Irish Government said the findings of the report would help the state prepare policy adjustments to mitigate the exposure of the Irish economy to the effects of Brexit.

 

The study is the second major report commissioned by the government on the potential effects of Brexit since 2015.

 

The report analyses 24 sectors of the economy, including agri-food, pharma, electrical machinery, wholesale and retail, and air transport. It says these five sectors account for approximately 90% of the total economic impact.

 

 

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