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JAN

BREXIT Breakfast Briefing

BREXIT Breakfast Briefing 

An immediate effect from Brexit has been in relation to exchange rate fluctuations, we must now focus on making cautious decisions with regard to capital spending as we prepare to enter a period of uncertainty.

To best prepare our members and the local business community, Wexford Chamber will hold a Brexit Breakfast Briefing on Wednesday 13th July in The Ferrycarrig Hotel at 7.30am.

We must understand what we need to do to limit our exposure, work together to identify new opportunities post Brexit for businesses here in Wexford and identify alternative markets to export to.

Our Guest Speakers will include:

  1. Mary Morrissey, Senior Manager with Bord Bia – Food & Beverage Division
    Mary will share information on the implications of Brexit from a food and beverage perspective.
  2.  Billy Sweetman, ‎PwC Partner and Council Member at Chartered Accountants Ireland
    The decision of the UK referendum to leave the European Union is having significant implications for Irish business. We are committed to supporting organisations manage the uncertainties and will present our insights and expert opinions on Wednesday, 13th July.
  3.  Kilian Duignan, Director at Business Boost International
    Business Boost International is a Wexford based business formed to help Irish businesses to export for the first time or develop new export markets in a methodical and structured fashion. Attendees will also learn about the Wexford LEO Export Marketing Grant, which is a funding programme recently announced to assist eligible businesses with exporting to new markets.
  4. Emma Kennedy, Money Editor at the Sunday Business Post
    Emma Kennedy is Money Editor at The Sunday Business Post. A qualified financial adviser, she manages the newspaper’s Money Plus section, and reports on personal finance. She has a degree in economics & finance from UCD, and a masters in journalism from DCU. Her first book, Megan and the Money Tree, which is designed to teach children about money, was published in 2011.
    Emma has written extensively about Brexit and will share her thoughts on the subject!
  5. Vincent Crimmins, Head of FX Strategy & Trading, Bank of Ireland
    A massive trade-off between politics and economics – let Bank of Ireland explain the latest on BREXIT.

This breakfast briefing will be a ‘must attend’ for all of our Members and the wider business community.

A Continental or Full Irish Breakfast will be served on arrival.

Please contact Traceymorgan@wexfordchamber.ie  or telephone Tracey on 053 91 22226 to book your place.  Members €25 (plus VAT) and non-members €30 (plus VAT).  Places are limited.

 

Chambers Ireland yesterday (27th June 2016) participated as one of the key National stakeholders in the National Economic Dialogue taking place at Dublin Castle.

Speaking from Dublin Castle, Ian Talbot Chief Executive Chambers Ireland said, “In the aftermath of the UK’s Brexit referendum and decision to leave the European Union we are entering a period of uncertainty. Making the right investment and budget decisions is crucial to protect Ireland’s economic growth. Addressing the need for significant increases in infrastructure investment to meet demographic changes and to facilitate economic growth must be an immediate priority for the Government in Budget 2017.”

“In tandem with increasing the amount we allocate to capital expenditure, we must also prioritise delivering investment to areas of strategic national importance if we are to sustain our economic growth. One such area of importance for the Irish Chamber Network is education and skills. It is imperative that we ensure our education system can develop and adapt to the skills needs of a modern economy. Skills mismatches and skills gaps are a real threat to economic growth and to Ireland’s competitiveness. If we invest sensibly and strategically in our economy now, we can ensure that Ireland remains a competitive place to do business and attract FDI.”

BREXIT – What Happens Next
  • In the immediate term, we can expect some degree of currency fluctuation in BREXITSterling and possibly other currencies, so businesses with exposure to Sterling should consider how they will manage this.
  • There may also be some market volatility with knock-on consequences for investments and pensions and it is unclear how long this period of uncertainty will last.
  • It is important to highlight that there will be no immediate impact as negotiations for a UK exit from the European Union are likely to take a considerable amount of time. For example, pending the outcome of any negotiations there will be no introduction of tariffs and there will be no immediate introduction of a hard border between the Republic of Ireland and Northern Ireland. Free movement of people should also not be impacted in the immediate aftermath.
  • The UK is Ireland’s largest single trading partner in Europe and ranks second to the USA in terms of global export markets. However, the share of Irish exports (goods and services) to the UK has fallen from 55% to 17% over the last 40 years. Similarly, the dependence on the UK as a source of goods imports has fallen dramatically, with the share decreasing from 50% to 26% since 1975. The EU bloc (excluding the UK) is the largest trading partner of the Ireland, and accounts for more than twice the volume of Irish merchandise exports to the USA. Irish exporters should look to building on already strong links with US and EU markets in the months and years to come to account for any disruption to trade links with the United Kingdom……READ MORE