Opinion: Brexit hasn’t even happened, yet Ireland is already seeing signs of the economic toll
Outside the Houses of Parliament in London. By Megan McArdle Megan McArdle Columnist Bio Follow Columnist April 5 at 4:48 PM DUBLIN – One doesn’t necessarily expect to find an advanced manufacturing operation in the Donegal Gaeltacht, one of the last rural redoubts where the Irish language can be heard in everyday life. Yet there Irish Pressings is, producing tooling and parts for the auto industry.
Much of the speculation about Brexit over the past few years has focused on how it would affect the British and Irish economies. Remainers have occasionally exaggerated just how bad it would be — even if Britain crashes out of the E.U. with no agreement to organize its trade with other countries, Britons are not going to be boiling up their shoes for dinner.
And as Irish Pressings’ experience suggests, you don’t actually have to wait for Brexit to see economic ripple effects across both sides of the Irish Sea. With Brexit, says Ward, “The damage is already done. There’s been a dramatic decline in car buying.” But the changes taking place in the British economy aren’t necessarily visible in the headline gross domestic product figures, and that may actually be making things worse. If the uncertainty had crashed Britain into a recession, politicians might have been forced to come to some orderly, timely arrangement. But GDP grew at a rate of 1.4 percent in 2018 — not stellar, but not catastrophic either.
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