Update on Brexit from EY

57 working days remain until the official Brexit withdrawal date of 31 October leaving very little room for manoeuvre.

£2.1 billion in additional Brexit supports has been announced with just 5.1% allocated to businesses in the UK. Business leaders in NI have come together to issue a joint statement warning of the dangers of a no-deal Brexit. The Confederation of British Industry have criticised business planning by the UK Government, outlining that it only mitigates issues in the short term leaving the long term open to uncertainty. Businesses have weathered much uncertainty over the past three years and going forward are likely to face more.

Reports indicate that Boris Johnson and his team have no plan to re-open negotiations and are operating under the assumption that the UK will leave the EU without a deal come 31 October. The Taoiseach remains more optimistic than both his EU and UK counterparts and continues to outline that avoiding a no-deal outcome is possible but is inconsistent with the EU position that the Withdrawal Agreement is not open for re-negotiation.

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