No-Deal Brexit must be prepared for, but capital projects must be delivered


Following the Cabinet level agreement that Budget 2020 is to be prepared under a ‘no-deal’ Brexit scenario, Chambers Ireland Chief Executive Ian Talbot has welcomed this decision, specifically the regional and sectoral approach, and calls on Government to ensure that spending for capital projects is delivered.

“Decisions on Budget 2020 must be based on what we know. Currently there is no Withdrawal Agreement, so the departure of the UK from the EU without a deal at the end of October must be the working assumption.

While we support this prudent approach by Government, Budget 2020 must back the National Development Plan and the Climate Action Plan while also engaging with the immediate challenge of Brexit.

In the short-to-medium term, all businesses across the country will require supports during the uncertainty of a ‘no-deal’ scenario.

Should a ‘no-deal’ Brexit occur, we call on the Government to collect VAT, PAYE and PRSI from all entities on the last possible working day of each month, instead of the 25th day of each month; businesses across the country will benefit from the extra working capital.

This proactive approach should not affect the monthly exchequer taxation returns. Though the Government may incur a nominal interest charge, this will have no impact on State finances while providing a welcome boost for small businesses.”

This website uses cookies and thereby collects information about your visit to help improve the website, show you relevant social media content and/or show you relevant advertisements. Please see the policy page for further details and fine-tuning of cookies settings or agree to ALL cookies now by clicking the 'Accept' button. You can of course revoke your consent at any time in the future via the same policy page.

Cookie settings

Below you can choose which kind of cookies you allow on this website. Click on the "Save cookie settings" button to apply your choice.

FunctionalThis website uses functional cookies. These cookies are necessary to let our website work and cannot be disabled.

AnalyticalThis website may use analytical cookies to make it possible to inspect visitor traffic and optimise usability based on this data.

Social MediaThis website may places social media cookies to show you 3rd party content like YouTube and FaceBook. These cookies may track your personal data.

AdvertisingThis website may place advertising cookies to show you 3rd party advertisements based on your interests. These cookies may also track your personal data.

OtherThis website may place 3rd party cookies from other 3rd party services which aren't necessarily for Analytical, Social Media or Advertising purposes.