The European Commission has approved a €920 million subsidy to Ireland as part of the Brexit Adjustment Reserve fund. The fund was set up to lessen the economic impact of the UK’s exit from the EU.
A billion euro bump is no small thing for the Irish economy, but it is most probably going to amount to chump change in relation to the costs of Brexit to the Irish economy in the medium term.
The Department of Public Expenditure and Reform said the fund would be used to help counter the adverse economic and social consequences of Brexit in areas such as enterprise supports, supports for fisheries and agri-food sectors, reskilling and retaining and checks and controls at Irish ports and airports.
