IEA Submission: Budget 2022 Supporting an Export led Recovery
Supporting an export led recovery is paramount to Budget 2022. Irish exporters and importers based in Ireland, continue to demonstrate resilience despite supply chain disruption brought about by Covid-19, Brexit and global trade tensions, and indeed the production disruption which Covid-19 has had on businesses across the globe. The pandemic has exposed the intricacies of supply chains and how disruption in one part of the chain, and in one part of the world, will have a knock-on effect on other parts of the chain and countries and as a result, businesses based in Ireland.
Most recent figures published by the Central Statistics Office (CSO) confirm the resilience of exporters and their ability to adapt to changes in trading arrangements, in particular changes to trading arrangements with Great Britain where our exports in June 2021 were €1,420 million, an increase of €575 million (+68%) compared with June 2020. This increase confirms that exporters are determined that Britain remains a key market and that they can successfully, and swiftly, adapt to fluctuations in the trading arena. We expect that exporters will adopt the same approach to the climate crisis and reinstating global connectivity in the wake of Covid-19, however the right supports and measures must be put in place and Budget 2022 is an opportunity to do just that.
Our submission to the Minister for Finance and the Minister for Public Expenditure and Reform addresses the four following themes:
- Emerging stronger from the pandemic
- Adapting to Brexit and supporting market diversification
- Addressing the climate crisis
- Reinstating a global and connected Ireland.
Read our pre Budget 2022 submission here