UK won't drag Ireland into a recession – Varadkar – Messenger Newspapers

The UK won’t drag Ireland into a recession, the Irish deputy premier has said.
Chancellor Jeremy Hunt confirmed the UK is in recession as he outlined his autumn statement on Thursday.
Tanaiste Leo Varadkar said it was “very bad news”, describing the UK as one of Ireland’s biggest trading partners as well as nearest neighbour.
“Anything that happens in their economy will affect ours,” he said.
Mr Varadkar who is set to return as Irish premier (Taoiseach) next month, blamed not just the war in Ukraine, but also Brexit and some recent policy decisions by the UK government.
“Those are the factors … but I don’t believe they’re dragging us into recession,” he said.
“Our economy decoupled from theirs a long time ago … it’s still our expectation that next year our economy will grow slightly and employment will continue to grow as well.”
Current Taoiseach Micheal Martin said analysis and forecasts suggest Ireland will not go into recession next year.
“That said, we’re very much aware of storm clouds gathering across Europe, and across the United Kingdom,” he said.
“Britain is a very important market to us, we export a lot to Britain, we import a lot as well and therefore, we want UK to do well. If the UK does well, many of our companies will do well.”
Mr Martin said Ireland managed the economy well during the coronavirus pandemic which gave it resources and allows it to put money aside to deal with issues that arise.
“But it is a very, very uncertain world because of the war, the war has cast a shadow over all of Europe – it’s fair to say, I think, that Europe is probably more disadvantaged by the war than any other region.”
“We wish the UK well, we want them to get through this particular period.”
We want our comments to be a lively and valuable part of our community – a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Last Updated:
Are you sure you want to delete this comment?
This website and associated newspapers adhere to the Independent Press Standards Organisation’s Editors’ Code of Practice. If you have a complaint about the editorial content which relates to inaccuracy or intrusion, then please contact the editor here. If you are dissatisfied with the response provided you can contact IPSO here
© 2001-2022. This site is part of Newsquest’s audited local newspaper network. A Gannett Company. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. HP10 9TY. Registered in England & Wales | 01676637 |
Data returned from the Piano ‘meterActive/meterExpired’ callback event.
As a subscriber, you are shown 80% less display advertising when reading our articles.
Those ads you do see are predominantly from local businesses promoting local services.
These adverts enable local businesses to get in front of their target audience – the local community.
It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times.


Leave a Comment