There is nation-wide confusion regarding the new revised Brexit deal which has been agreed by the UK and EU.
A collective wish has been acknowledged across all sides as to avoid the return of a “hard border” between the Republic of Ireland and Northern Ireland after the Brexit deal is concluded. A border such as this one would have checking systems and an infrastructure that could potentially be targeted by paramilitary groups.
There has been an active yet challenging effort to find a solution for this issue, which has been accepted by all sides. This protocol would switch places with Theresa May’s controversial Irish backstop plan.
The entirety of the UK would leave the EU customs union, implying that the UK would be able to strike trade deals with countries abroad in the future.
A legal customs border will stand between Northern Ireland and the Republic of Ireland, which will be staying within the EU. The custom check for goods will take place in the points of entry between the border in Great Britain and Ireland.
A further solution was made, declaring that duty tax will not automatically have to be paid on goods coming into Northern Ireland from Great Britain. Although, where something must be transported into the Republic of Ireland (which is part of the EU customs union) due to being at “risk”, duty must be paid.
The recent wave of political uncertainty has brought concern to construction sites across Ireland, with fears that the UK will crash out of the EU.
The Ulster Bank Construction Purchasing Managers’ Index made hints that Brexit issues are taking a toll on demand, due to receding contractions within commercial activity; which is the building of offices, industrial facilities, and shops. There were even further contractions seen within civil engineering.
Any status of output below 50 is considered as contraction. An overall output measured throughout this September stood at 48.3. This distracts from an improved performance in housing output which showed a slightly limited growth in output during August, though construction workers remain in demand.
The chief economist of the bank, Simon Barry, said that “anecdotes from the survey highlighted that concerns about Brexit impacts were the key factor weighing on sentiment regarding the sector’s prospects for the incoming year.”
This Brexit related hit to the construction industry has wobbled the certainty in developers and builders across Ireland. However, with new conversations and a continuously changing prospect, there is still great hope for UK construction, as these slight decreases in rates are far from drastic.