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Irish and UK retailers join forces to highlight Brexit challenges

Written by Robert McHugh, on 26th Jun 2017. Posted in Ireland

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Retail Ireland has joined forces with the British Retail Consortium and the Northern Ireland Retail Consortium to explore the implications for the sector arising from Brexit. 

They will meet in Dublin with a number of Government Departments, consumer advocates and individual retailers to seek solutions to mitigate the negative impacts on retailers and consumers alike.  
 
It is estimated that more than 280,000 jobs in the Republic of Ireland and approximately 80,000 jobs in Northern Ireland are dependent on the retail sector. 
 
The Irish and UK retail representative bodies have jointly called on the Irish and UK Governments to protect consumers and ensure that Brexit negotiations yield results for the industry that safeguard employment and retail growth, minimise cost pressures and regulatory burdens while also maintaining fair consumer prices and cost competitiveness.
 
Speaking ahead of the meeting, Director of Retail Ireland, Thomas Burke said, "The retail sector in Ireland faces significant challenges arising from the decision of the UK to leave the European Union, due to the close supply chains between the two economies and the numerous high street retail brands operating across both markets." 

He added, "While the recent UK general election opens the door for fresh debate on what Brexit may look like, one thing is clear; Brexit uncertainty is already negatively impacting consumer spend and business competitiveness, and is increasing exchange rate volatility. It will continue to be a major risk factor for Irish retailers in the coming years." 
 
Source: www.businessworld.ie 

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