Trade

Ireland to spend more than €1B on no-deal Brexit planning

LONDON — The Irish government will spend more than €1 billion preparing the country for “the worst” effects of a no-deal Brexit.

Finance Minister Paschal Donohoe made the announcement as he unveiled his 2020 budget this afternoon in Dublin.

“This is a budget that has been developed in the shadow of Brexit,” he told parliament. “And the context for Brexit has now shifted to no-deal as our central assumption.”

The biggest chunk of the funds — €650 million — will go toward supporting the agriculture, enterprise and tourism sectors. The money will be released in waves and targeted at the regions that will be hardest hit by a no-deal U.K. departure from the EU.

Another €355 million will be budgeted for general preparations for Brexit, including investment in ports and airports to ensure they are prepared for any cliff-edge disruption.

Ireland is also seeking extra cash from Brussels to support its agriculture sector, among other concerns.

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