10 March 2019

News

Northern Ireland businesses voice fears of 'no deal' Brexit

More than 50 businesses have written an open letter to MPs expressing concern over the prospect of a 'no deal' Brexit.

Northern Ireland businesses voice fears of 'no deal' Brexit

With less than a month to prevent the UK leaving the EU with no deal, Northern Irish businesses have written an open letter to MPs warning them of the dangers of failing to unite behind a way forward that avoids a hard border and protects peace and economic progress in Northern Ireland.

Open Letter to MPs

The Northern Ireland business community wish to express its deep concern that local firms are hugely exposed to the economic fallout from leaving the EU with no-deal.  

The private sector across Northern Ireland is currently responsible for 560,000 jobs and has ambitions to create many more.  However, a no-deal Brexit will result in significant damage to our export markets, supply chains, consumer spending power and the region’s competitiveness. 

Although Brexit has not yet happened, the negative economic impact is already starting to bite in terms of the private sector’s ability to invest.  Northern Ireland industry also notes with much regret, uncertainty around future funding for local infrastructure given the immediate loss of approximately £450 million from the European Regional Development Fund which was once earmarked for significant infrastructure projects. The uncertainty linked with Brexit has additionally contributed to significant skill and labour shortages.

Local businesses believe that the failure to approve a deal with Europe on the UK’s withdrawal from the EU will have significant repercussions for the local economy.  Such a scenario will both hinder indigenous and foreign direct investment, it would result in significant job losses and will stifle opportunities for the next generation across Northern Ireland.

The private sector has consistently stated that peace and prosperity are mutually dependent.  A no deal Brexit will undoubtedly result in creating regulatory and tariff differences across the island of Ireland and will therefore have direct consequences for border checks and crossings.  We therefore urge MPs across the UK to consider the damaging impact on Northern Ireland’s economy and political stability in the event of a no-deal Brexit.

The peace and economic progress that flowed from the Belfast/ Good Friday Agreement cannot be overlooked at this critical time in the UK’s history. All Members of Parliament must consider the burden of responsibility that they now carry for this region’s future.

Local companies in Northern Ireland urge politicians to compromise, make progress and ensure ‘no deal’ is taken off the table.

Signed:

AES UK and Ireland

Airporter

Allianz

Andras House Ltd

Aurora Prime Real Estate Ltd

Avondale Foods Ltd

Beyond Business Travel

Bombardier Aerospace

Canyon Europe Ltd

CBI NI

CBRE

CDEnviro

Chartered Accountants Ulster Society

Coca-Cola Hellenic Northern Ireland Ltd

Construction Employers Federation

Creagh Concrete Products

Danske Bank

Deli Lites

Denroy Plastics

Denman International Ltd

Devenish Nutrition Ltd

Duncrue Food Processors

Eakin Healthcare Group

Etain Software

Evermore Energy

Fane Valley

Felix O'Hare & Co Ltd

First Trust Bank

Forde May Consulting Ltd

Graham Group

Greiner Packaging Ltd

Hilton Meat Products Ltd

Interfrigo Ltd

Lanyon Communications

Linden Foods

Mash Direct

Maxol Oil

McCloskey International Ltd

Mineral Products Association NI

Mount Charles Group Ltd

Moy Park Ltd

Mutual Energy

Norbrook Laboratories Ltd

Northern Ireland Electricity Networks Ltd

O’Hare and McGovern Ltd

PKF-FPM

Queen’s University Belfast

Quinn Building Group

Rainbow Communications

SDC Trailers Ltd

SHS Group

Smurfit Kappa Packaging Solutions

SSE Airtricity Energy Supply (NI)

T G Eakin Ltd

Thales

Thompsons

Ulster University

Viridian Group

Walter Watson

W & R Barnett Ltd

Westland Horticulture Ltd

White’s Speedicook Ltd

Wilsons Country Ltd

Yardmaster International