The impact on Ireland/UK business
KPMG operates on an all-Ireland basis and is uniquely positioned to offer comment on the potential impact of Brexit on business on both sides of the border.
Following the decision by the United Kingdom to vote to leave the EU, the quotes below can be attributed to Shaun Murphy, Managing Partner of KPMG in Ireland.
“Ireland and the UK are significant markets for each other’s goods and services and this will not change but there is a concern about potential unwelcome alterations to trade rules – this can be avoided if negotiators on both sides stay focussed on minimising trade disruption.
“The Irish/ UK economic relationship is unique in that we share a land border. It’s in everyone’s interests that the trading relationship between the EU and the UK remains business friendly.”
“Cross border trade is vital to both Northern Ireland and the Republic of Ireland. Given the potential impact on employment and exports, businesses on both sides of the border will want to see quick, effective negotiations that result in minimum cost and disruption to trade. ”
“A clear signal worldwide of Ireland’s commitment to the EU is essential as is the need to impress upon our EU neighbours the need for a fast, business friendly trade deal between the EU and the UK.”
“The time frame for concluding trade negotiations is set out in the Lisbon Treaty and it could be protracted. Irish business will want a swift agreement to avoid as much uncertainty as possible.”
“There are many great reasons for choosing Ireland as an EU gateway and there may be some benefit to Ireland as a result of the UK decision. However businesses decide where to locate based on multiple factors not limited to EU membership – the good news is that Ireland already has strong appeal but we’ll need to focus on staying attractive.”
About KPMG in Ireland
KPMG in Ireland employs 2,400 people across its audit, tax and advisory services from offices in Dublin, Belfast, Cork and Galway. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services.