Press release
Minister McGrath welcomes agreement on EU’s Brexit Fund - €1 billion in funding for Ireland
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
Michael McGrath TD, Minister for Public Expenditure & Reform, has welcomed the agreement reached between the Council of the European Union and the European Parliament on the Brexit Adjustment Reserve (BAR).
The agreement will see Ireland receive just over €1 billion of Brexit funding, the biggest single allocation for any Member State, representing just over 20% of the total fund.
On Christmas Day, following agreement between the EU and the UK on the Trade and Cooperation Agreement (TCA), the Commission presented its proposal for the Brexit Adjustment Reserve to help counter the adverse economic and social consequences of Brexit in the Member States and sectors most affected. Since then the proposal has been the subject of intensive negotiations between Member States and with the European Parliament which have now concluded.
Speaking today Minister McGrath said:
"The Brexit Adjustment Reserve represents an important response by the European Union to the challenges posed by the UK’s departure from the EU.
"It is further evidence of the support and solidarity that Ireland has received from the EU, not just since 2016 but over five decades of EU membership.
"It is widely understood that Ireland is the Member State most impacted by Brexit. It is appropriate therefore that we are the largest beneficiary."
Today’s agreement paves the way for the Brexit Adjustment Reserve to support employment, businesses and local communities negatively affected by Brexit, including those in the fishing industry. In addition, it can be used to support checks and controls at ports and airport, as well as measures for communications and awareness-raising for citizens and businesses post-Brexit.
Minister McGrath added:
"We are still understanding the impact of Brexit, as its effects continue to unfold, but funding under the BAR will ensure we can support business, the agri-food sector, our fishing communities and our wider Brexit response."
The Minister noted that Ireland has already spent a considerable amount on preparing for Brexit, with successive budgets since the UK referendum providing significant supports for business and the agri-food sectors, as well as the infrastructure required at the ports and airport to maintain the flow of east west trade.
Minister McGrath concluded:
“The BAR can be seen alongside the EU funding for the National Recovery and Resilience Plan that I announced on June 1st as representing a key element of the EU’s response to the challenges of COVID-19 and Brexit.
“Working collaboratively with other Government Departments, my Department will be responsible for the roll out of these two important funding streams."