Business

Irish business leaders in plea for UK to remain in Brexit vote

The vast majority of Irish accountants want the UK to stay in the EU
The vast majority of Irish accountants want the UK to stay in the EU The vast majority of Irish accountants want the UK to stay in the EU

BUSINESS leaders from south of the border have pleaded the Northern Ireland electorate to back a vote for the UK to remain in the European Union.

A major survey conducted for Chartered Accountants Ireland found the overwhelming majority of its members in the Republic were opposed to a so-called Brexit.

The survey, carried out by Coyne Research, asked almost 3,000 chartered accountants across Britain and Ireland for their views on the upcoming referendum.

Of those based in the Republic, a resounding 97 per cent said they believed the UK should stay in the EU.

The poll found support for a stay vote from its members in Britain was less pronounced at 86 per cent and lesser still in the north where 82 per cent backed a vote to remain.

The main reason cited by those backing 'remain' across all regions was that "The EU is stronger with the UK as a member".

And a key consideration for accountants in the south was over the possible knock-on effects of a Brexit on the economy in the Republic.

The need for the EU to be united in an increasingly globalised market was also considered important by respondents supporting a vote to stay.

Speaking at a gathering of Professional Accountants in Europe in Barcelona, Liam Lynch, deputy president of Chartered Accountants Ireland, said: “Our research with Northern Ireland Chartered Accountants shows that a massive majority are in favour of the UK remaining in the European Union."

"Their opinion is important: we represent almost 4,000 Chartered Accountants in Northern Ireland and almost 2,000 based in Great Britain, and our Institute is proud of its status as both an Irish and UK representative body.

"Furthermore, 77 per cent of our members hold senior positions at the centre of business, industry and the public sector. Therefore this study is a broad-based and reliable insight into what senior business leaders, not just in the UK, but also in Ireland and overseas, are thinking about the upcoming EU referendum.

“While there is no shortage of conflicting reports, projections and speculation on both sides of the debate, in my view the business community have little to go on but conjecture and opinion – in effect, it is impossible to forecast either the vote or its effect. The prevailing message from our members is one of uncertainty, and this will likely have an impact on business decisions at a micro and macro level across these islands in the run-up to the referendum."

Meanwhile, the Northern Ireland-wing of the organisation campaigning for a remain vote has hit back at trade policies espoused by the Economists for Brexit group.

Professor Patrick Minford of Cardiff University from the group has said the UK should be prepared to seek a new trading arrangement with the EU if it votes to leave.

But Newry and Mourne Enterprise Agency chief executive Dr Conor Patterson of the Stronger In group said Prof Minford was "promising a double-whammy hit on Northern Ireland’s economy".

"It’ll affect the rest of the UK, damaging our economy and it’ll be a serious blow to our trade with the Republic of Ireland," he said.

“Yet again the leave campaign forgets about Northern Ireland. Their claims that small businesses in the UK will be better off out of the EU are ridiculous but in the case of Northern Ireland, they’re utterly absurd."