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Brexit deal out of reach this year, chief executives believe

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UK Brexit adviser David Frost. Photo: Reuters

UK Brexit adviser David Frost. Photo: Reuters

REUTERS

UK Brexit adviser David Frost. Photo: Reuters

Talks between the EU and Britain over the terms of a Brexit deal resume this week after taking a break due to the coronavirus outbreak and the prospects for agreement by the end of this year look grim, according to Irish CEOs.

A survey by the Institute of Directors in Ireland showed that 74pc of business leaders do not believe the EU and UK can achieve a trade deal by the December deadline.

The survey covered 3,000 member companies and also showed that 87pc of business leaders believe that Brexit's impact on the Irish economy will be negative in the short term.

The British government said recently that it would not accept any offer from the EU to extend the talks beyond the end of the year due to the delays caused by the pandemic.

David Frost, who leads the United Kingdom side in the talks, tweeted that "extending would simply prolong negotiations, create even more uncertainty".

If there is not a deal, trade could be hit with hefty tariffs.

Irish Independent