29 March – Brexit day no more

Mar 29, 2019

29 March – Brexit day no more

The UK was due to leave the European Union today, but instead MPs are to vote on the EU Withdrawal Agreement for a third time. If today’s vote passes, then the UK will be granted an automatic Brexit delay to 22 May. Also this week the ESRI warned that a disorderly Brexit could cost Irish jobs and it forecasts that the economic shock of Brexit will impact Irish households, businesses, jobs and government finances.

MPs are to vote on the Withdrawal Agreement today. If passed, the UK will be allowed delay Brexit day until to 22 May. If the vote does not pass, Brexit day is set for 12 April. This is the final day on which the UK can set out its next steps to the European Council. If it does not do so, the UK is in danger of crashing out of the EU without a deal.

Today’s Withdrawal Agreement motion will not count as a third attempt to pass a "meaningful vote" on Theresa May's deal because it does not cover the future relationship with Europe. In an attempt to sway Tory MPs, the Prime Minister promised to step down if her deal is passed. However, at the time of writing, the DUP said it had not changed its position and would still vote against the deal.

Earlier this week the Economic and Social Research Institute (ESRI) published a report on the impact of Brexit on the Irish economy under a range of scenarios. The report says that the economic impact of Brexit on Ireland will be considerable in either a deal or no-deal scenario with the level of Irish GDP in the long run being 2.6 percent,  4.8 percent or 5.0 percent below where it otherwise would be if Brexit had not happened. It also says the economic shock of Brexit will negatively impact Irish households, businesses, jobs and government finances.