Government ‘may be underestimating impact of hard Brexit’

Fiscal watchdog warns of more negative and persistent impact on Irish economy

Council chairman Séamus Coffey said there were a number of questionable assumptions underpinning the department’s forecasts, including the assumption that the United Kingdom was an “average trading partner”. Photograph: Dara Mac Dónaill

Council chairman Séamus Coffey said there were a number of questionable assumptions underpinning the department’s forecasts, including the assumption that the United Kingdom was an “average trading partner”. Photograph: Dara Mac Dónaill

The Department of Finance may be significantly underestimating the impact of a hard Brexit on the Irish economy, the Government’s Fiscal Advisory Council has warned.

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